前进保险Progressive (PGR) 2005年年度报告「NYSE」.pdf

1、The Progressive Corporation2005 ANNUAL REPORTIT HAS BEEN MY OBSERVATIONTHAT MOST PEOPLE GET AHEAD DURINGTHE TIME THAT OTHERS WASTE.Henry Fordprogress.02Financial Highlights.05Vision and Values.09Letter to Shareholders.21Objectives,Policies and Operations Summary.29Consolidated Financial Statements.3

2、8Safe Harbor Statement.39Corporate Information.40Directors and OfficersWhyTIME?THE PROGRESSIVE INSURANCE ORGANIZATIONbegan in 1937.Since then,we have worked hard to build a superior propositionfor auto insurance consumers through competitive pricing and bycontinuously improving our products and serv

3、ices.Today,weoffer competitive rates and 24-hour,in-person and online serv-ices to all personal and commercial auto drivers throughout theUnited States.We sell our personal lines products through inde-pendent insurance agencies as DriveInsurance from Progressive,and over the telephone and on the Int

4、ernet as Progressive DirectSM.Progressives consumer value proposition,based on Fast,Fair,Better,recognizes that respecting our customers time in everytransaction is essential to the definition of superior service.In anincreasingly fast-paced society,efficient time management andcommunication is expe

5、cted in the services we deliver and it is thebasis for consumersevaluation of us.We understand that the value of Time can be measured and interpreted by many criteria.For that reason,12artists have been chosen to visually represent the concept:Carol K.Brown,Beth Campbell,Mart Cormand,Daina Higgins,J

6、oan Linder,Russell Nachman,Shaun ODell,Robyn ONeil,Ben Peterson,Randall Sellers,AndreaWay and David Wetzl.Their work willjoin Progressives growing collection of contemporary art.01|(billionsexcept per share amounts)(billionsexcept shares outstanding and per share amounts)Five-Year Financial Highligh