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Press release from Business Wire

Progressive Reports June Results

Thursday, July 14, 2011

Progressive Reports June Results08:28 EDT Thursday, July 14, 2011 MAYFIELD VILLAGE, Ohio (Business Wire) -- The Progressive Corporation today reported the following results for June and the second quarter 2011:       Month       Quarter (millions, except per share amounts and ratios; unaudited)   2011       2010       Change       2011       2010       Change   Net premiums written $ 1,162.0 $ 1,125.6 3 % $ 3,837.0 $ 3,707.9 3 % Net premiums earned $ 1,144.5 $ 1,109.8 3 % $ 3,719.9 $ 3,590.2 4 % Net income $ 53.1 $ 56.6 (6 )% $ 245.2 $ 211.9 16 % Per share $ .08 $ .09 (3 )% $ .38 $ .32 19 % Pretax net realized gains (losses)on securities (including netimpairment losses) $ 1.8 $ (32.4 ) NM $ 26.0 $ (39.5 ) NM Combined ratio 96.3 92.3 4.0 pts. 93.4 92.7 .7 pts. Average equivalent shares 643.2 664.8 (3 )% 647.9 665.7 (3 )%   NM = Not Meaningful   (in thousands; unaudited)       June       June       Change     2011 2010 Policies in Force: Agency – Auto 4,608.2 4,474.0 3 % Direct – Auto 3,771.3 3,500.0 8 % Total Personal Auto 8,379.5 7,974.0 5 % Total Special Lines 3,796.8 3,618.3 5 % Total Personal Lines 12,176.3 11,592.3 5 % Total Commercial Auto 512.0 520.2 (2 )%   See the complete release at http://investors.progressive.com/pdf/mreport-0611.pdf for further information. If you experience technical difficulties using this link, please email investor_relations@progressive.com and a PDF of the release will be sent to you promptly. Progressive is scheduled to hold a one-hour conference call to address questions on Thursday, August 11, 2011 at 9:00 a.m., eastern time, subsequent to the posting of our Shareholders' Report online and the filing of our Quarterly Report on Form 10-Q with the SEC. Registration for the teleconference and webcast is available at http://investors.progressive.com/events.aspx. About Progressive The Progressive Group of Insurance Companies makes it easy to understand, buy, and use auto insurance. Progressive offers choices so consumers can reach us whenever, wherever, and however it's most convenient for them—online at http://www.progressive.com, by phone at 1-800-PROGRESSIVE, or in-person with a local agent. Progressive offers insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. We're the fourth largest auto insurer in the country, the largest seller of motorcycle insurance, and a leader in commercial auto insurance. Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au. Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, the Snapshot DiscountSM, and a concierge level of claims service. The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at (NYSE:PGR). The Progressive CorporationClark Khayat, 440-395-2291http://www.progressive.com