The Progressive Corp. reports a 51 percent drop in August 2013 net income compared to the same month a year ago due to an 89 percent in net realized gains on securities.
Net premiums written for the month increased by 6 percent to just under $1.4 billion compared to August 2012.
Total personal-lines policies in force increased 1 percent to just over 13 million, compared to 12.9 million a year ago. This total includes 1 percent gains in both personal auto and special lines policies in force. Breaking down the personal auto figure, direct policies in force increased by 3 percent, while agency policies decreased by 1 percent.
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