| |
| (a) |
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Grow as fast as possible, constrained only by our profitability objective and our ability to provide high-quality customer service. |
|
| (b) |
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Determined separately for each insurance subsidiary. |
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| (c) |
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Allocate portfolio between two groups:
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Group I - Target 0% to 25% (common equities; nonredeemable preferred stocks; redeemable preferred stocks, except for 50% of investment-grade redeemable preferred stocks with cumulative dividends; and all other non-investment-grade fixed-maturity securities) |
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Group II - Target 75% to 100% (short-term securities and all other fixed-maturity securities) |
| Note: External data is not available to enable us to report 2009 under our current allocation strategy. For 2009, Group I included common equities, all preferred stocks, and below investment-grade fixed-maturity securities, while Group II included short-term securities and all other fixed-maturity securities. |
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|
| (d) |
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Progressive does not have a predetermined target for return on average shareholders’ equity. |
|
| na |
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not applicable |
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| 1 |
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Represents results over the respective time period; growth represents average annual compounded rate of increase (decrease). |
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| 2 |
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Represents private passenger auto insurance market data as reported by A.M. Best Company, Inc. The industry underwriting margin excludes the effect of policyholder dividends. Final comparable industry data for 2011 will not be available until our third quarter report. The 5- and 10-year growth rates are presented on a one-year lag basis for the industry. |