(billions — except per share amounts)
| Three Months Ended March 31, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2013 | 2013 | 2012 | 2011 | 2010 | |||||||
| Net premiums written | $ | 4.7 | $ | 4.4 | $ | 17.3 | $ | 16.4 | $ | 15.1 | $ | 14.5 |
| Growth over prior period | 5% | 7% | 6% | 8% | 5% | 3% | ||||||
| Net premiums earned | $ | 4.4 | $ | 4.2 | $ | 17.1 | $ | 16.0 | $ | 14.9 | $ | 14.3 |
| Growth over prior period | 5% | 8% | 7% | 7% | 4% | 2% | ||||||
| Total revenues | $ | 4.7 | $ | 4.4 | $ | 18.2 | $ | 17.1 | $ | 15.8 | $ | 15.2 |
| Net income | $ | .32 | $ | .31 | $ | 1.17 | $ | .90 | $ | 1.02 | $ | 1.07 |
| Per share | $ | .54 | $ | .51 | $ | 1.93 | $ | 1.48 | $ | 1.59 | $ | 1.61 |
| Underwriting margin | 6.6% | 7.6% | 6.5% | 4.4% | 7.0% | 7.6% | ||||||
(billions — except shares outstanding, per share amounts, and policies in force)
| Three Months Ended March 31, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2013 | 2013 | 2012 | 2011 | 2010 | |||||||
| At Period-End | ||||||||||||
| Common shares outstanding (millions) | 593.1 | 603.2 | 595.8 | 604.6 | 613.0 | 662.4 | ||||||
| Book value per share | $ | 10.86 | $ | 10.59 | $ | 10.39 | $ | 9.94 | $ | 9.47 | $ | 9.13 |
| Consolidated shareholders’ equity | $ | 6.4 | $ | 6.4 | $ | 6.2 | $ | 6.0 | $ | 5.8 | $ | 6.0 |
| Market capitalization | $ | 14.4 | $ | 15.2 | $ | 16.2 | $ | 12.8 | $ | 12.0 | $ | 13.2 |
| Return on average shareholders’ equity | ||||||||||||
| Net income | 17.9% | 15.2% | 17.7% | 14.5% | 16.5% | 17.1% | ||||||
| Comprehensive income | 17.6% | 16.4% | 19.0% | 17.4% | 15.0% | 22.3% | ||||||
| Policies in force (thousands) | ||||||||||||
| Personal Lines | ||||||||||||
| Agency — auto | 4,911.8 | 4,839.4 | 4,841.9 | 4,790.4 | 4,648.5 | 4,480.1 | ||||||
| Direct — auto | 4,384.1 | 4,094.7 | 4,224.2 | 4,000.1 | 3,844.5 | 3,610.4 | ||||||
| Special lines | 3,982.9 | 3,935.8 | 3,990.3 | 3,944.8 | 3,790.8 | 3,612.2 | ||||||
| Total Personal Lines | 13,278.8 | 12,869.9 | 13,056.4 | 12,735.3 | 12,283.8 | 11,702.7 | ||||||
| Growth over prior year | 3% | 2% | 3% | 4% | 5% | 7% | ||||||
| Commercial Lines | 509.4 | 519.6 | 514.6 | 519.6 | 509.1 | 510.4 | ||||||
| Growth over prior year | (2)% | 1% | (1)% | 2% | 0% | 0% | ||||||
| Industry net premiums written1 | NA | NA | NA | $ | 167.9 | $ | 163.3 | $ | 160.1 | |||
| Market share2 | NA | NA | NA | 8.5% | 8.1% | 7.9% | ||||||
| Three Months Ended March 31, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2013 | 2013 | 2012 | 2011 | 2010 | |||||||
| Stock Price Appreciation (Depreciation)3 | ||||||||||||
| Progressive | (5.5)% | 21.3% | 30.9% | 15.4% | .2% | 16.9% | ||||||
| S&P 500 | 1.8% | 10.6% | 32.4% | 15.9% | 2.1% | 15.0% | ||||||
1 Represents private passenger auto insurance market net premiums written as reported by A.M. Best Company, Inc.
2 Represents Progressive’s private passenger auto business, including motorcycle insurance, as a percent of the private passenger auto insurance market.
3 Represents average annual compounded rate of increase (decrease) and assumes dividend reinvestment.
NA = Final comparable industry data will not be available until our third quarter report.