Progressive Insurance Issues December Results

insurance issues The Progressive Insurance Corporation reported the results for fourth quarter 2005 and December. Yearly comparisons are based on an additional week of functioning (service and underwriting) results. They were included in the December and fourth quarter 2004.

(Millions, except per share amounts and ratios)

2005 2004 Change (1) 2005 2004 Change (1)
Net Premiums Written: $937.4, $1,135.5 (17%) $3,352.3 (3)%
Net Premiums Earned: 1,068.6, 1,270.2 (16)%, 3,481.7 3,564.7 (2)%
Net Income: 122.9 179.5 (32)% 281.6 413.5 (32)%
Per Share: .62 .89 (30)% 1.42 2.01 (29)%
Pre-tax net
Realized
Gains
(Losses) on
Securities (4.7) (10.6) (56)5% (40.2) (.7) 5643%
Combined Ratio: 87.2 80.6 6.6pts. 90.7 85.5 5.2 pts
Diluted
Equivalent
Shares 198.8 202.3 (2)% 198.7 206.2 (4)%

With 24/7, in person and on-line service, and working since 1937, the Progressive Group of Insurance Companies ranks third in the nation for auto insurance based premiums. Customers can contact Progressive by on-line at www.progressivedirect.com through the Progressive Direct(SM) brand, or you may also contact them by phone: 1-800-PROGRESSIVE. The products and services of the Progressive Direct Group of Insurance Companies are usually marketed by phone. More than 30,000 independent insurance agencies that market their products and services are offered insurance through The Drive Group of Progressive Insurance Companies. For more information about Drive Insurance visit www.driveinsurance.com .