Using the Internet obtain the income statement for the insur

Using the Internet, obtain the income statement for the insurance company where you insure your automobile (casualty insurance company) and perform a vertical analysis of this company. My company of insurance is Progressive.

Solution

PROGRESSIVE CORP (PGR) CashFlowFlag INCOME STATEMENT Fiscal year ends in December. USD in millions except per share data. 2016-12 2017-12 TTM Revenues Premiums 95.88% 95.86% 96.17% Service fees and commissions 1.86% 1.38% 1.39% Investment income, net 2.04% 1.86% 1.92% Realized capital gains (losses), net 0.22% 0.43% 0.05% Other income (loss) 0.47% 0.47% Total revenues 100.00% 100.00% 100.00% Benefits, claims and expenses Policyholder benefits and claims incurred 72.11% 70.16% 69.56% Policy acquisition and other expenses 7.95% 7.92% 7.94% Selling, general and administrative 0.39% 0.41% 0.40% Interest expense 0.60% 0.57% 0.55% Other expenses 12.67% 12.97% 12.94% Total benefits, claims and expenses 93.73% 92.03% 91.38% Income before income taxes 6.27% 7.97% 8.62% Income tax (expense) benefit -1.76% -2.01% -1.83% Other income (expense) -0.11% -0.02% -0.04% Net income 4.40% 5.93% 6.75% Preferred dividend 0.00% Net income available to common shareholders 4.40% 5.93% 6.74%