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Letter to the Editor
Friday June 14
Progressive Distributes May Underwriting Results
The Progressive Corporation has reported that for May 2002, the company produced a GAAP combined ratio of 92.7. Net premiums written increased 27 percent to $706.0 million for the month, compared to $557.0 million last year. Net premiums earned for the month increased 22 percent to $659.3 million, compared to $541.7 million last year.
The Progressive group of insurance companies ranks fourth in the nation for auto insurance.
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