Progressive Reports 89.8% Combined Ratio for February
Mayfield Village, Ohio-based Progressive Corp. has reported that for February 2003, the company produced a GAAP combined ratio of 89.8 percent.
Net premiums written increased 31 percent to $942.7 million for the month, compared to $719.6 million last year. Net premiums earned for the month increased 32 increased to $805.8 million, compared to $608.7 million last year.
Progressive, the country’s third-leading auto insurer offers its products through more than 30,000 independent agencies.
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