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.
Florida House Panel Approves Bill to Waive Permits on Work of Less Than $7,500 
Navigators Can’t Parse ‘Additional Insured’ Policy Wording in Georgia Explosion Case 
Trump Orders Federal Takeover of LA Wildfire Rebuilding Efforts 
GEICO Settles Call-Center Worker Suits for $940,000; Attorneys Get Half 
