(billions — except per share amounts)
| Nine Months Ended September 30, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2013 | 2013 | 2012 | 2011 | 2010 | |||||||
| Net premiums written | $ | 14.0 | $ | 13.3 | $ | 17.3 | $ | 16.4 | $ | 15.1 | $ | 14.5 |
| Growth over prior period | 6% | 6% | 6% | 8% | 5% | 3% | ||||||
| Net premiums earned | $ | 13.5 | $ | 12.8 | $ | 17.1 | $ | 16.0 | $ | 14.9 | $ | 14.3 |
| Growth over prior period | 5% | 7% | 7% | 7% | 4% | 2% | ||||||
| Total revenues | $ | 14.2 | $ | 13.6 | $ | 18.2 | $ | 17.1 | $ | 15.8 | $ | 15.2 |
| Net income | $ | .91 | $ | .87 | $ | 1.17 | $ | .90 | $ | 1.02 | $ | 1.07 |
| Per share | $ | 1.53 | $ | 1.43 | $ | 1.93 | $ | 1.48 | $ | 1.59 | $ | 1.61 |
| Underwriting margin | 7.1% | 6.7% | 6.5% | 4.4% | 7.0% | 7.6% | ||||||
(billions - except shares outstanding, per share amounts, and policies in force)
| Nine Months Ended September 30, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2013 | 2013 | 2012 | 2011 | 2010 | |||||||
| At Period-End | ||||||||||||
| Common shares outstanding (millions) |
589.2 | 600.0 | 595.8 | 604.6 | 613.0 | 662.4 | ||||||
| Book value per share | $ | 11.77 | $ | 11.32 | $ | 10.39 | $ | 9.94 | $ | 9.47 | $ | 9.13 |
| Consolidated shareholders’ equity |
$ | 6.9 | $ | 6.8 | $ | 6.2 | $ | 6.0 | $ | 5.8 | $ | 6.0 |
| Market capitalization | $ | 14.9 | $ | 16.3 | $ | 16.2 | $ | 12.8 | $ | 12.0 | $ | 13.2 |
| Return on average shareholders’ equity |
||||||||||||
| Net income | 18.1% | 17.5% | 17.7% | 14.5% | 16.5% | 17.1% | ||||||
| Comprehensive income | 19.7% | 16.9% | 19.0% | 17.4% | 15.0% | 22.3% | ||||||
| Policies in force (thousands) | ||||||||||||
| Personal Lines | ||||||||||||
| Agency — auto | 4,784.6 | 4,842.4 | 4,841.9 | 4,790.4 | 4,648.5 | 4,480.1 | ||||||
| Direct — auto | 4,453.4 | 4,172.3 | 4,224.2 | 4,000.1 | 3,844.5 | 3,610.4 | ||||||
| Special lines | 4,081.8 | 4,040.7 | 3,990.3 | 3,944.8 | 3,790.8 | 3,612.2 | ||||||
| Total Personal Lines | 13,319.8 | 13,055.4 | 13,056.4 | 12,735.3 | 12,283.8 | 11,702.7 | ||||||
| Growth over prior year | 2% | 2% | 3% | 4% | 5% | 7% | ||||||
| Commercial Lines | 517.8 | 524.7 | 514.6 | 519.6 | 509.1 | 510.4 | ||||||
| Growth over prior year | (1)% | 0% | (1)% | 2% | 0% | 0% | ||||||
| Industry net premiums written1 | NA | NA | $ | 174.5 | $ | 168.0 | $ | 163.3 | $ | 160.1 | ||
| Market share2 | NA | NA | 8.7% | 8.5% | 8.1% | 7.9% | ||||||
| Nine Months Ended September 30, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2013 | 2013 | 2012 | 2011 | 2010 | |||||||
| Stock Price Appreciation (Depreciation)3 | ||||||||||||
| Progressive | (1.3)% | 30.7% | 30.9% | 15.4% | .2% | 16.9% | ||||||
| S&P 500 | 8.3% | 19.8% | 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 = Not Available.