The Progressive Corporation (NYSE:PGR) today reported the following results for May 2006: (millions, except per share amounts and ratios)MayMay20062005Change——– ——– ——- Net premiums written$1,100.2 $1,070.93% Net premiums earned1,097.8 1,062.53% Net income125.8126.10%Per share.16.162% Combined ratio86.785.8 .9 pts.
See the complete monthly release at http://investors.progressive.com/releases/2006/pdf/mreport_0506.pdf for further month and year-to-date information and commentary.
As previously announced, the Company will host a simultaneous webcast of its 2006 Investor Relations Meeting on Thursday, June 15, 2006, beginning at 9:00 a.m. eastern time. The meeting will last approximately three hours and will include a question and answer session following the presentations. Information that is distributed at the meeting will be made available on the Company’s Web site on the morning of the meeting. To attend the webcast, visit the Company Web site at http://investors.progressive.com/events.asp.
The Progressive Group of Insurance Companies, in business since 1937, ranks third in the nation for auto insurance based on premiums written and provides drivers with competitive rates and 24/7, in-person and online service. The products and services of the Progressive Direct Group of Insurance Companies are marketed directly to consumers by phone at 1-800-PROGRESSIVE and online at www.progressivedirect.com through the Progressive Direct(SM) brand. The Drive Group of Progressive Insurance Companies offers insurance through more than 30,000 independent insurance agencies that market their products and services through the Drive(R) Insurance from Progressive brand. For more information about Drive Insurance, go to www.driveinsurance.com. The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, are publicly traded at NYSE:PGR. More information, including a guide to interpreting the monthly reporting package, can be found at www.progressive.com.