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Press release from Business Wire

Progressive Reports January Results

Wednesday, February 15, 2012

Progressive Reports January Results08:34 EST Wednesday, February 15, 2012 MAYFIELD VILLAGE, Ohio (Business Wire) -- The Progressive Corporation today reported the following results for January 2012:                                 (millions, except per share amounts and ratios; unaudited)         January     January     Change 2012 2011   Net premiums written $ 1,458.3 $ 1,375.0 6 % Net premiums earned $ 1,463.5 $ 1,395.8 5 % Net income $ 75.0 $ 112.6 (33)% Per share $ .12 $ .17 (28)% Total pretax net realized gains (losses) on securities (including net impairment losses) $ 11.9 $ 32.3 (63)% Combined ratio 94.9 92.2 2.7 pts. Average diluted equivalent shares 610.5 658.0 (7)%                                                             (in thousands; unaudited) January January Change 2012 2011 Policies in Force: Agency – auto 4,688.0 4,495.6 4 % Direct – auto 3,888.1 3,639.3 7 % Total personal auto 8,576.1 8,134.9 5 % Total special lines 3,788.3 3,604.7 5 % Total Personal Lines 12,364.4 11,739.6 5 % Total Commercial Auto 509.6 506.8 1 %                             Progressive is scheduled to hold a one-hour conference call to address questions on Thursday March 1, 2012 at 9:00 a.m., eastern time, subsequent to the posting of our 2011 Shareholders' Report online and the filing of our 2011 Annual Report on Form 10-K with the SEC. Registration for the teleconference and webcast is available at http://investors.progressive.com/events.aspx. See the complete release at http://investors.progressive.com/pdf/mreport-0112.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. About ProgressiveThe 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 Discount®, 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 CorporationMatt Downing, 440-395-4222