Progressive Corp. reported that for April 2003, the company produced a GAAP combined ratio of 88.3.
Net premiums written increased 28 percent to almost $1.2 million for the month, compared to $928 million last year. Net premiums earned for the month increased 31 percent to $1.05 million, compared to $800.7 million last year.
During April, the company experienced $20 million, or 1.9 points, of catastrophic, weather-related losses, primarily due to hailstorms in Texas.
Was this article valuable?
Here are more articles you may enjoy.
DeSantis Plan to Cut Florida Property Taxes Heads to Ballot—With Schools Removed 
AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says 
Renewals for Most Commercial Lines Decrease in May, Says Ivans 
Georgia Brokers and Agents Alarmed After Court Ruling Expands Liability for Them 
