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Letter to the Editor

Progressive Reports Net Premiums Written Up 32%

The Progressive Corporation has reported that for July 2002, the Company produced a GAAP combined ratio of 89.6. Net premiums written increased 32 percent to $969 million for the month, compared to $732.3 million last year. Net premiums earned for the month increased 26 percent to $872 million, compared to $691 million last year.

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