(billions-except per share amounts)
| Six months ended June 30, |
Years ended December 31, | |||||||||||
| 2007 | 2006 | 2006 | 2005 | 2004 | 2003 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net premiums written | $ | 7.2 | $ | 7.4 | $ | 14.1 | $ | 14.0 | $ | 13.4 | $ | 11.9 |
| Growth over prior period | (2)% | 2% | 1% | 5% | 12% | 26% | ||||||
| Net premiums earned | $ | 7.0 | $ | 7.1 | $ | 14.1 | $ | 13.8 | $ | 13.2 | $ | 11.3 |
| Growth over prior period | (1)% | 4% | 3% | 5% | 16% | 28% | ||||||
| Total revenues | $ | 7.4 | $ | 7.4 | $ | 14.8 | $ | 14.3 | $ | 13.8 | $ | 11.9 |
| Net income | $ | .65 | $ | .84 | $ | 1.65 | $ | 1.39 | $ | 1.65 | $ | 1.26 |
| Underwriting margin | 9.1% | 14.1% | 13.3% | 11.9% | 14.9% | 12.7% | ||||||
| Net income per share (diluted basis) | $ | .88 | $ | 1.05 | $ | 2.10 | $ | 1.74 | $ | 1.91 | $ | 1.42 |
(billions-except shares outstanding, per share amounts and policies in force) |
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| Six months ended June 30, |
Years ended December 31, | |||||||||||
| 2007 | 2006 | 2006 | 2005 | 2004 | 2003 | |||||||
At Period-End |
||||||||||||
| Common Shares outstanding (millions) | 724.1 | 775.2 | 748.0 | 789.3 | 801.6 | 865.8 | ||||||
| Book value per share | $ | 7.60 | $ | 8.28 | $ | 9.15 | $ | 7.74 | $ | 6.43 | $ | 5.81 |
| Consolidated shareholders’ equity | $ | 5.5 | $ | 6.4 | $ | 6.8 | $ | 6.1 | $ | 5.2 | $ | 5.0 |
| Market capitalization | $ | 17.3 | $ | 19.9 | $ | 18.1 | $ | 23.0 | $ | 17.0 | $ | 18.1 |
| Return on average shareholders’ equity | 21.5% | 23.5% | 25.3% | 25.0% | 30.0% | 29.1% | ||||||
| Policies in force (thousands) | ||||||||||||
| Personal Lines | ||||||||||||
| Agency auto | 4,516.0 | 4,554.2 | 4,433.1 | 4,491.4 | 4,244.9 | 3,965.7 | ||||||
| Direct auto | 2,536.4 | 2,409.2 | 2,428.5 | 2,327.7 | 2,084.1 | 1,852.2 | ||||||
| Special lines | 3,081.7 | 2,870.7 | 2,879.5 | 2,674.9 | 2,351.3 | 1,990.0 | ||||||
| Total Personal Lines | 10,134.1 | 9,834.1 | 9,741.1 | 9,494.0 | 8,680.3 | 7,807.9 | ||||||
| Growth over prior year | 3% | 5% | 3% | 9% | 11% | 19% | ||||||
| Commercial Auto | 534.2 | 502.0 | 503.2 | 468.2 | 420.2 | 365.1 | ||||||
| Growth over prior year | 6% | 10% | 7% | 11% | 15% | 26% | ||||||
| Market share1 | NA | NA | 7.6% | 7.6% | 7.5% | 6.9% | ||||||
| Industry net premiums written2 | NA | NA | $ | 160.4 | $ | 159.5 | $ | 157.3 | $ | 151.2 | ||
Stock Price Appreciation (Depreciation)3 |
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| Progressive | (1.2)% | (11.9)% | (17.0)% | 37.9% | 1.6% | 68.7% | ||||||
| S&P 500 | 7.0% | 2.7% | 15.8% | 4.9% | 10.8% | 28.6% | ||||||
NA = Not Available
1) Represents Progressive’s Personal Lines Businesses as a percent of the U.S. personal auto insurance market; 2006 is estimated.
2) Represents U.S. personal auto insurance market net premiums written as reported by A.M. Best Company, Inc.; 2006 is estimated.
3) Represents average annual compounded rate of increase (decrease) and assumes dividend reinvestment.
All share and per share amounts were adjusted for the May 18, 2006, 4-for-1 stock split.
