NU Online News Service, March 16, 2:56 p.m. EST

Mayfield Village, Ohio-based auto insurer Progressive Corp. reported net income rose 16 percent in February over the prior year as all segments of its business reported increases in policy counts.

Progressive said net income rose $16 million to $114 million. Net premiums written increased 4 percent, or $55 million, to $1.3 billion. The combined ratio dropped one point to 89.4.

On a year-to-date basis, net income is up 34 percent, or $57 million, to $227 million compared to the prior year. Earnings per share rose 10 cents to 35 cents a share. Total revenue increased 7 percent, or $164 million, to $2.66 billion.

The total number of personal auto policies in force grew 7 percent, or 518,600 policies, to more than 8.2 million in February compared to the same period last year.

Agency auto business grew 4 percent, or 170,800 policies, to 4.5 million, while direct auto grew 10 percent, or 347,800 policies, to 3.7 million.

Total personal lines, including special lines, grew 6 percent, or 703,900, to almost 12 million.

Total commercial auto dropped about 1 percent, or 2,200 policies, to 506,200.

The company offered no commentary on the February numbers.