Progressive Corp.on April 14 reported first-quarter net income attributablethe company of $258.2 million, or 44 cents per share, down from $295.6 million,or 50 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus GAAP EPS estimatefor the quarter was 51 cents.

Net premiums written in the quarterincreased 15% year over year to $5.82 billion from $5.07 billion. Net premiums earnedrose 14% year over year to $5.32 billion from $4.67 billion.

Pretax net realized gains on securities,including net impairment losses, totaled $17.4 million, down significantly from$33.0 million a year ago.

Progressive's combined ratio for the first quarter was 94.6%,compared to 92.7% in the year-ago quarter.

For March, Progressive reported net income attributable to thecompany of $60.8 million, or 10 cents per share, down from $120.7 million, or 20cents per share, in March 2015.

Net premiums written in the month grew 16% year over year to$1.86 billion from $1.61 billion, while net premiums earned grew 15% year over yearto $1.68 billion from $1.46 billion.

Pretax net realized gains on securities,including net impairment losses, totaled $13.4 million for March, compared to $9.8million in March 2015.

Combined ratio for March was 97.6%,compared to 90.0% in March 2015.

Personal auto policies in force totaled10.0 million in March, up from 9.4 million in March 2015. Special lines policiesin force were 4.1 million, up 2% from 4.0 million in March 2015. Total personallines policies grew 5% year over year to 14.2 million in March from 13.5 million.Total commercial lines policies in force increased 10% year over year to 575,100in March from 522,600 in March 2015.