Lountzis Asset Management Comments on Progressive

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Mar 21, 2014

PROGRESSIVE (PGR, Financial) is the fourth largest auto insurer in the country and generated revenues of $17.4 billion in 2013 with operating income per share of $1.59. We project Progressive’s net premiums written to exceed $18.2 billion in 2014 generating operating income over $1 billion and fully diluted operating earnings per share of $1.60.

From Lountzis Asset Management 2013 Annual Letter