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PROGRESSIVE CORP/OH/ - 10-Q - MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - Insurance News insurancenewsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancenewsnet.com Daily Mail and Mail on Sunday newspapers.
The following is a discussion and analysis of our results of operations for 2021 compared to 2020 and 2020 compared to 2019, respectively as well as our liquidity and capital resources at December 31, 2021. On March 22, 2019, we acquired TMR, including RREAG, RenaissanceRe UK, and their subsidiaries, and our results of operations and financial condition include.
Summary of Results Net Income was$ million for the nine months ended September 30, 2021, compared to $312.4 million for the same period in 2020. Net Income was$ million for the three months ended September 30, 2021, compared to $122.3 million for the same period in 2020. Adjusted Consolidated Net Operating Income decreased by $421.0 million for the nine months.