Progressive Corp. Announces Unaudited Earnings Results for the Month, Fourth Quarter and Year Ended December 2012
For the quarter, the company reported net premiums written of $3,839.3 million compared to $3,538.1 million a year ago. Net premiums earned were $4,105.6 million compared to $3,776.9 million a year ago. Net income was $249.1 million or $0.41 per share compared to $256.7 million or $0.42 per share a year ago. Total pretax net realized gains on securities (including net impairment losses) was $62.1 million compared to total pretax net realized loss on securities (including net impairment losses) of $29.5 million a year ago.
For the year, the company reported net premiums written of $16,372.7 million compared to $15,146.6 million a year ago. Net premiums earned were $16,018.0 million compared to $14,902.8 million a year ago. Net income was $902.3 million or $1.48 per share compared to $1,015.5 million or $1.59 per share a year ago. Total net realized gains on securities (including net impairment losses) was $306.8 million compared to $102.6 million a year ago. Total revenues were $16,802.1 million against $15,508.1 million a year ago. Income before income taxes was $1,317.7 million against $1,487.0 million a year ago.