Five-Year Financial Highlights
(billions-except per share amounts)
| Nine Months Ended September 30, |
Years ended December 31, | |||||||||||
 2010 |
2009 | 2009 | 2008 | 2007 | 2006 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net premiums written | $ | 11.2 | $ | 10.6 | $ | 14.0 | $ | 13.6 | $ | 13.8 | $ | 14.1 |
| Growth over prior period | 6% | 1% | 3% | (1)% | (3)% | 1% | ||||||
| Net premiums earned | $ | 10.7 | $ | 10.3 | $ | 14.0 | $ | 13.6 | $ | 13.9 | $ | 14.1 |
| Growth over prior period | 4% | 1% | 3% | (2)% | (2)% | 3% | ||||||
| Total revenues | $ | 11.1 | $ | 10.7 | $ | 14.6 | $ | 12.8 | $ | 14.7 | $ | 14.8 |
| Net income (loss) | $ | .77 | $ | .75 | $ | 1.06 | $ | (.07) | $ | 1.18 | $ | 1.65 |
| Per share1 | $ | 1.16 | $ | 1.12 | $ | 1.57 | $ | (.10) | $ | 1.65 | $ | 2.10 |
| Underwriting margin | 7.8% | 8.4% | 8.4% | 5.4% | 7.4% | 13.3% | ||||||
(billions-except shares outstanding, per share amounts, and policies in force) |
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At Period-End |
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| Common shares outstanding (millions) | 663.4 | 676.2 | 672.6 | 676.5 | 680.2 | 748.0 | ||||||
| Book value per share | $ | 10.12 | $ | 8.13 | $ | 8.55 | $ | 6.23 | $ | 7.26 | $ | 9.15 |
| Consolidated shareholders’ equity | $ | 6.7 | $ | 5.5 | $ | 5.7 | $ | 4.2 | $ | 4.9 | $ | 6.8 |
| Market capitalization | $ | 13.8 | $ | 11.2 | $ | 12.1 | $ | 10.0 | $ | 13.0 | $ | 18.1 |
| Return on average shareholders’ equity | 17.6% | 20.1% | 21.4% | (1.5)% | 19.5% | 25.3% | ||||||
| Policies in Force (thousands) | ||||||||||||
| Personal Lines | ||||||||||||
| Agency – Auto | 4,467.0 | 4,324.1 | 4,299.2 | 4,288.6 | 4,396.8 | 4,433.1 | ||||||
| Direct – Auto | 3,565.4 | 3,122.2 | 3,201.1 | 2,824.0 | 2,598.5 | 2,428.5 | ||||||
| Special Lines | 3,662.1 | 3,493.1 | 3,440.3 | 3,352.3 | 3,120.3 | 2,879.5 | ||||||
| Total Personal Lines | 11,694.5 | 10,939.4 | 10,940.6 | 10,464.9 | 10,115.6 | 9,741.1 | ||||||
| Growth over prior year | 7% | 4% | 5% | 3% | 4% | 3% | ||||||
| Commercial Auto | 518.4 | 524.9 | 512.8 | 539.4 | 539.2 | 503.2 | ||||||
| Growth over prior year | (1)% | (5)% | (5)% | 0% | 7% | 7% | ||||||
| Market Share2 | NA | NA | 7.8% | 7.3% | 7.3% | 7.4% | ||||||
| Industry net premiums written3 | NA | NA | $ | 156.5 | $ | 158.0 | $ | 159.1 | $ | 160.2 | ||
Stock Price Appreciation (Depreciation)4 |
||||||||||||
| Progressive | 17.0% | 12.0% | 21.5% | (21.9)% | (12.6)% | (17.0)% | ||||||
| S&P 500 | 3.9% | 19.2% | 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.
3) Represents private passenger auto insurance market net premiums written as reported by A.M. Best Company, Inc.
4) Represents average annual compounded rate of increase (decrease) and assumes dividend reinvestment.