Progressive 2003 Annual Report Download - page 28

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- APP.-B-28 -
Underwriting results for the Company’s Personal Lines business, including its channel components, the Commercial Auto
Business and other businesses were as follows (detailed discussions below):
(millions) 2003 2002 2001
NET PREMIUMS WRITTEN
Personal Lines–Agency $ 7,239.6 $ 5,832.7 $ 4,614.7
Personal Lines–Direct 3,263.2 2,529.8 1,861.7
To t a l Pe rs o n a l L i n e s 10,502.8 8,362.5 6,476.4
Commercial Auto Business 1,357.7 1,002.9 665.7
Other businesses 52.9 86.6 118.0
Companywide $ 11,913.4 $ 9,452.0 $ 7,260.1
NET PREMIUMS EARNED
Personal Lines–Agency $ 6,948.0 $ 5,542.7 $ 4,706.8
Personal Lines–Direct 3,103.0 2,365.1 1,787.0
To t a l Pe rs o n a l L i n e s 10,051.0 7,907.8 6,493.8
Commercial Auto Business 1,226.7 880.0 552.3
Other businesses 63.3 95.7 115.7
Companywide $ 11,341.0 $ 8,883.5 $ 7,161.8
PERSONAL LINES–AGENCY CR
Loss & loss adjustment expense ratio 68.4 72.0 74.8
Underwriting expense ratio 19.6 21.0 19.9
88.0 93.0 94.7
PERSONAL LINES–DIRECT CR
Loss & loss adjustment expense ratio 67.4 69.1 71.8
Underwriting expense ratio 20.3 22.3 25.9
87.7 91.4 97.7
PERSONAL LINES–TOTAL CR
Loss & loss adjustment expense ratio 68.1 71.1 74.0
Underwriting expense ratio 19.8 21.4 21.5
87.9 92.5 95.5
COMMERCIAL AUTO BUSINESS –CR
Loss & loss adjustment expense ratio 62.7 70.7 70.6
Underwriting expense ratio 19.8 20.2 21.1
82.5 90.9 91.7
OTHER BUSINESSES–CR
Loss & loss adjustment expense ratio 48.2 56.7 60.6
Underwriting expense ratio 38.8 36.1 32.4
87.0 92.8 93.0
COMPANYWIDE GAAP CR
Loss & loss adjustment expense ratio 67.4 70.9 73.5
Underwriting expense ratio 19.9 21.5 21.7
87.3 92.4 95.2
COMPANYWIDE ACCIDENT YEAR
Loss & loss adjustment expense ratio 67.9 70.9 74.9
POLICIES IN FORCE (AT DECEMBER 31)
(thousands)
Agency – Auto 3,966 3,386 2,779
Direct – Auto 1,852 1,541 1,209
Other Personal Lines11,9 9 0 1,642 1,383
To t a l Pe rs o n a l L i nes 7,808 6,569 5,371
Commercial Auto Business 365 289 209
1Includes insurance for motorcycles, recreation vehicles,mobile homes,watercraft,snowmobiles, homeowners and similar items.
CR = Combined Ratio