The Progressive has reported net income $295.6m, or $0.44 per share for the first quarter of 2009, an increase of 27% compared to $232.5m, or $0.35 per share for the same period last year.
The company said that net premiums written were $3777.5m for the first quarter of 2009, an increase of 7% compared to $3522.9m for the same period in 2008.
Net Premiums earned for the first quarter of 2009 were $3501.1m, an increase of 3% compared to $3406.6m for the same period last year.
The company posted revenues of $1166.6m for the month of March in 2009, net premiums for the same period in 2009 were $1092.1m.
The Progressive Group of Insurance Companies is an auto insurance group, which sells motorcycle policies, and also provides commercial auto insurance based on premiums written.