Progressive Reports November Results

  Progressive Reports November Results

Business Wire

MAYFIELD VILLAGE, Ohio -- December 12, 2012

The Progressive Corporation today reported the following results for November
2012:

                                                       
  (millions, except per share
  amounts and ratios;              November     November     Change
  unaudited)
                                      2012            2011
                                                                      
  Net premiums written                $ 1,129.9       $ 1,071.9       5 %
  Net premiums earned                 $ 1,264.3       $ 1,163.7       9 %
  Net income                          $ 77.7          $ 124.7         (38)%
  Per share                           $ .13           $ .20           (37)%
  Total pretax net realized
  gains (losses) on securities        $ 10.2          $ 42.1          (76)%
  (including net impairment
  losses)
  Combined ratio                        93.6            90.1          3.5 pts.
  Average diluted equivalent            605.4           612.7         (1)%
  shares
                                                        
                                                                      

                                                      
  (thousands; unaudited)        November     November    
                                  2012             2011             Change
  Policies in Force:
  Agency – auto                     4,807.6          4,653.5          3 %
  Direct – auto                     4,001.3          3,851.4          4 %
    Total personal auto             8,808.9          8,504.9          4 %
    Total special lines             3,956.1          3,805.2          4 %
      Total Personal Lines          12,765.0         12,310.1         4 %
      Total Commercial Auto         522.0            511.4            2 %
                                                     

See the complete release at
http://investors.progressive.com/phoenix.zhtml?c=81824&p=irol-finRel for
further information.

About Progressive

Celebrating its 75^th anniversary in 2012, The Progressive Group of Insurance
Companies makes it easy to understand, buy, and use auto insurance.
Progressive offers choices so consumers can reach it whenever, wherever, and
however it’s most convenient—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. It’s 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).

Contact:

The Progressive Corporation
Matt Downing, 440-395-4222
 
Press spacebar to pause and continue. Press esc to stop.