(billions-except per share amounts)
| 2006 | 2005 | 2004 | 2003 | 2002 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
for the year |
||||||||||
| Net premiums written | $ | 14.1 | $ | 14.0 | $ | 13.4 | $ | 11.9 | $ | 9.5 |
| Growth over prior year | 1% | 5% | 12% | 26% | 30% | |||||
| Net premiums earned | $ | 14.1 | $ | 13.8 | $ | 13.2 | $ | 11.3 | $ | 8.9 |
| Growth over prior year | 3% | 5% | 16% | 28% | 24% | |||||
| Total revenues | $ | 14.8 | $ | 14.3 | $ | 13.8 | $ | 11.9 | $ | 9.3 |
| Net income | $ | 1.65 | $ | 1.39 | $ | 1.65 | $ | 1.26 | $ | .67 |
| Underwriting margin | 13.3% | 11.9% | 14.9% | 12.7% | 7.6% | |||||
| Net income per share1 | $ | 2.10 | $ | 1.74 | $ | 1.91 | $ | 1.42 | $ | .75 |
(billions-except shares outstanding, per share amounts and policies in force) |
||||||||||
| 2006 | 2005 | 2004 | 2003 | 2002 | ||||||
at year-end |
||||||||||
| Common Shares outstanding (millions) | 748.0 | 789.3 | 801.6 | 865.8 | 871.8 | |||||
| Book value per share | $ | 9.15 | $ | 7.74 | $ | 6.43 | $ | 5.81 | $ | 4.32 |
| Consolidated shareholders’ equity | $ | 6.8 | $ | 6.1 | $ | 5.2 | $ | 5.0 | $ | 3.8 |
| Market capitalization | $ | 18.1 | $ | 23.0 | $ | 17.0 | $ | 18.1 | $ | 10.8 |
| Return on average shareholders’ equity | 25.3% | 25.0% | 30.0% | 29.1% | 19.3% | |||||
| Policies in Force (thousands) | ||||||||||
| Personal Lines | ||||||||||
| Agency—Auto | 4,433.1 | 4,491.4 | 4,244.9 | 3,965.7 | 3,385.6 | |||||
| Direct—Auto | 2,428.5 | 2,327.7 | 2,084.1 | 1,852.2 | 1,541.3 | |||||
| Special Lines | 2,879.5 | 2,674.9 | 2,351.3 | 1,990.0 | 1,642.2 | |||||
| Total Personal Lines | 9,741.1 | 9,494.0 | 8,680.3 | 7,807.9 | 6,569.1 | |||||
| Growth over prior year | 3% | 9% | 11% | 19% | 22% | |||||
| Commercial Auto | 503.2 | 468.2 | 420.2 | 365.1 | 288.9 | |||||
| Growth over prior year | 7% | 11% | 15% | 26% | 38% | |||||
| Market Share2 | 7.6% | 7.6% | 7.5% | 6.9% | 6.0% | |||||
| Industry net premiums written3 | $ | 161.1 | $ | 159.5 | $ | 157.3 | $ | 151.2 | $ | 139.7 |
| |
||||||||||
| 1-Year | 3-Year | 5-Year | ||||||||
stock price appreciation4 |
||||||||||
| Progressive | (17.0)% | 5.2% | 14.4% | |||||||
| S&P 500 | 15.8% | 10.4% | 6.2% | |||||||
1) Presented on a diluted basis.
2) Represents Progressive's Personal Lines Businesses as a percent of the U.S. personal auto insurance market; 2006 is estimated.
3) Represents U.S. personal auto insurance market net premiums written as reported by A.M. Best Company, Inc.; 2006 is estimated.
4) Represents average annual compounded rate of increase and assumes dividend reinvestment.
All share and per share amounts were adjusted for the May 18, 2006, 4-for-1 stock split.
