Five-Year Financial Highlights
(billions – except per share amounts)
 2009 |
2008 | 2007 | 2006 | 2005 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
For the Year |
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| Net premiums written | $ | 14.0 | $ | 13.6 | $ | 13.8 | $ | 14.1 | $ | 14.0 | ||
| Growth over prior year | 3% | (1)% | (3)% | 1% | 5% | |||||||
| Net premiums earned | $ | 14.0 | $ | 13.6 | $ | 13.9 | $ | 14.1 | $ | 13.8 | ||
| Growth over prior year | 3% | (2)% | (2)% | 3% | 5% | |||||||
| Total revenues | $ | 14.6 | $ | 12.8 | $ | 14.7 | $ | 14.8 | $ | 14.3 | ||
| Net income (loss) | $ | 1.06 | $ | (.07) | $ | 1.18 | $ | 1.65 | $ | 1.39 | ||
| Per share1 | $ | 1.57 | $ | (.10) | $ | 1.65 | $ | 2.10 | $ | 1.74 | ||
| Underwriting margin | 8.4% | 5.4% | 7.4% | 13.3% | 11.9% | |||||||
(billions-except shares outstanding, per share amounts, and policies in force) |
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At Year-End |
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| Common shares outstanding (millions) | 672.6 | 676.5 | 680.2 | 748.0 | 789.3 | |||||||
| Book value per share | $ | 8.55 | $ | 6.23 | $ | 7.26 | $ | 9.15 | $ | 7.74 | ||
| Consolidated shareholders’ equity | $ | 5.7 | $ | 4.2 | $ | 4.9 | $ | 6.8 | $ | 6.1 | ||
| Market capitalization | $ | 12.1 | $ | 10.0 | $ | 13.0 | $ | 18.1 | $ | 23.0 | ||
| Return on average shareholders’ equity | 21.4% | (1.5)% | 19.5% | 25.3% | 25.0% | |||||||
| Policies in Force (thousands) | ||||||||||||
| Personal Lines | ||||||||||||
| Agency – Auto | 4,299.2 | 4,288.6 | 4,396.8 | 4,433.1 | 4,491.4 | |||||||
| Direct – Auto | 3,201.1 | 2,824.0 | 2,598.5 | 2,428.5 | 2,327.7 | |||||||
| Special Lines | 3,440.3 | 3,352.3 | 3,120.3 | 2,879.5 | 2,674.9 | |||||||
| Total Personal Lines | 10,940.6 | 10,464.9 | 10,115.6 | 9,741.1 | 9,494.0 | |||||||
| Growth over prior year | 5% | 3% | 4% | 3% | 9% | |||||||
| Commercial Auto | 512.8 | 539.4 | 539.2 | 503.2 | 468.2 | |||||||
| Growth over prior year | (5)% | —% | 7% | 7% | 11% | |||||||
| Market Share2 | 7.6% | 7.3% | 7.3% | 7.4% | 7.5% | |||||||
| Industry net premiums written3 | $ | 158.7 | $ | 157.9 | $ | 159.1 | $ | 160.2 | $ | 159.6 | ||
| 1-Year | 3-Year | 5-Year | ||||||||||
Stock Price Appreciation (Depreciation)4 |
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| Progressive | 21.5% | (6.1)% | (1.1)% | |||||||||
| S&P 500 | 26.4% | (5.6)% | .4% | |||||||||
1) Since we reported a net loss for 2008, the calculated diluted earnings per share was antidilutive; therefore, basic earnings per share is disclosed. For all other periods, diluted earnings per share is disclosed.
2) Represents Progressive's private passenger auto business, which includes motorcycle insurance, as a percent of the private passenger auto insurance market; 2009 is estimated.
3) Represents private passenger auto insurance market net premiums written as reported by A.M. Best Company, Inc.; 2009 is estimated.
4) 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.