NU Online News Service, March 14, 1:31 p.m.EST

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Progressive Corp. says its net income in February is down 7percent compared to the same month last year.

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The automobile insurer reports total unfavorable development onprior accident years of $12 million in February.

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The combined ratio for the month was 91.2, up 1.8 pointscompared to February 2010.

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To date, net income at the Mayfield Village, Ohio-basedautomobile insurer is down 20 percent compared to last year, to$181.3 million.

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Total net realized gains on securities for the year thus far was$41.3 million, down 26 percent from a year ago.

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Comparing February 2012 to February 2011, direct-drivenpolicies-in-force increased 7 percent while agency-driven policieswere up 5 percent.

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Total policies-in-force in personal lines was up 6 percent,while commercial was up 1 percent.

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For the month, net premiums written were up 6 percent to about$1.38 billion.

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The company had no additional commentary on Februaryresults.

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