Five-Year Financial Highlights
(billions-except per share amounts)
| Three months ended March 31, |
Years ended December 31, | |||||||||||
 2010 |
2009 | 2009 | 2008 | 2007 | 2006 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net premiums written | $ | 3.8 | $ | 3.5 | $ | 14.0 | $ | 13.6 | $ | 13.8 | $ | 14.1 |
| Growth over prior period | 7% | 1% | 3% | (1)% | (3)% | 1% | ||||||
| Net premiums earned | $ | 3.5 | $ | 3.4 | $ | 14.0 | $ | 13.6 | $ | 13.9 | $ | 14.1 |
| Growth over prior period | 3% | 0% | 3% | (2)% | (2)% | 3% | ||||||
| Total revenues | $ | 3.7 | $ | 3.5 | $ | 14.6 | $ | 12.8 | $ | 14.7 | $ | 14.8 |
| Net income (loss) | $ | .30 | $ | .23 | $ | 1.06 | $ | (.07) | $ | 1.18 | $ | 1.65 |
| Per share1 | $ | .44 | $ | .35 | $ | 1.57 | $ | (.10) | $ | 1.65 | $ | 2.10 |
| Underwriting margin | 9.1% | 10.5% | 8.4% | 5.4% | 7.4% | 13.3% | ||||||
(billions-except shares outstanding, per share amounts, and policies in force) |
||||||||||||
At Period-End |
||||||||||||
| Common shares outstanding (millions) | 670.5 | 680.7 | 672.6 | 676.5 | 680.2 | 748.0 | ||||||
| Book value per share | $ | 9.26 | $ | 6.32 | $ | 8.55 | $ | 6.23 | $ | 7.26 | $ | 9.15 |
| Consolidated shareholders’ equity | $ | 6.2 | $ | 4.3 | $ | 5.7 | $ | 4.2 | $ | 4.9 | $ | 6.8 |
| Market capitalization | $ | 12.8 | $ | 9.1 | $ | 12.1 | $ | 10.0 | $ | 13.0 | $ | 18.1 |
| Return on average shareholders’ equity | 20.8% | (1.7)% | 21.4% | (1.5)% | 19.5% | 25.3% | ||||||
| Policies in Force (thousands) | ||||||||||||
| Personal Lines | ||||||||||||
| Agency – Auto | 4,416.7 | 4,348.7 | 4,299.2 | 4,288.6 | 4,396.8 | 4,433.1 | ||||||
| Direct – Auto | 3,394.9 | 2,954.0 | 3,201.1 | 2,824.0 | 2,598.5 | 2,428.5 | ||||||
| Special Lines | 3,479.0 | 3,377.8 | 3,440.3 | 3,352.3 | 3,120.3 | 2,879.5 | ||||||
| Total Personal Lines | 11,290.6 | 10,680.5 | 10,940.6 | 10,464.9 | 10,115.6 | 9,741.1 | ||||||
| Growth over prior year | 6% | 4% | 5% | 3% | 4% | 3% | ||||||
| Commercial Auto | 510.8 | 532.6 | 512.8 | 539.4 | 539.2 | 503.2 | ||||||
| Growth over prior year | (4)% | (2)% | (5)% | 0% | 7% | 7% | ||||||
| Market Share2 | NA | NA | 7.6% | 7.3% | 7.3% | 7.4% | ||||||
| Industry net premiums written3 | NA | NA | $ | 158.7 | $ | 157.9 | $ | 159.1 | $ | 160.2 | ||
Stock Price Appreciation (Depreciation)4 |
||||||||||||
| Progressive | 7.0% | (9.3)% | 21.5% | (21.9)% | (12.6)% | (17.0)% | ||||||
| S&P 500 | 5.4% | (11.0)% | 26.4% | (36.5)% | 5.5% | 15.8% | ||||||
NA = Not Available
1) Since we reported a net loss for the year ended December 31, 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.