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Letter to the Editor
Friday March 14
Progressive Distributes February Underwriting Results
The Progressive Corporation has reported that for February 2003 the company produced a GAAP combined ratio of 89.8. Net premiums written increased 31 percent to $942.7 million for the month, compared to $719.6 million last year. Net premiums earned for the month increased 32 percent to $805.8 million, compared to $608.7 million last year.Progressive's Personal Lines business units write insurance for private passenger automobiles and recreation vehicles. Progressive's Commercial Auto business unit writes primary liability, physical damage and other auto-related insurance for automobiles and trucks owned by small businesses.
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