Progressive Reports March Results

  Progressive Reports March Results

Business Wire

MAYFIELD VILLAGE, Ohio -- April 10, 2013

The Progressive Corporation today reported the following results for March and
the first quarter 2013:

                Month                                    Quarter
  (millions,
  except per
 share           2013          2012          Change   2013          2012          Change
  amounts and
  ratios;
  unaudited)
                                                                                
  Net
  premiums            $   1,419.0     $   1,325.0     7 %        $   4,449.4     $   4,162.5     7 %
  written
  Net
  premiums            $   1,303.3     $   1,209.0     8 %        $   4,179.3     $   3,861.5     8 %
  earned
  Net income          $   74.2        $   76.3        (3)%       $   308.6       $   257.6       20 %
  Per share           $   .12         $   .13         (2)%       $   .51         $   .42         21 %
  Total
  pretax net
  realized
  gains
  (losses)
  on
  securities
  (including
  net
  impairment          $   18.7        $   36.2        (48)%      $   80.6        $   77.5        4 %
  losses)
  Combined                94.9            96.0        (1.1)          92.4            94.1        (1.7)
  ratio                                               pts.                                       pts.
  Average
  equivalent              604.0           609.8       (1)%           604.4           610.0       (1)%
  shares
                                                                                                 
                                                             
 
  (thousands;         March           March
  unaudited)
                      2013            2012            Change
  Policies in
  Force:
  Agency –            4,839.4         4,816.6         0 %
  auto
  Direct –            4,094.7         3,987.5         3 %
  auto
  Total
  personal            8,934.1         8,804.1         1 %
  auto
  Total
  special             3,935.8         3,852.3         2 %
  lines
  Total
  Personal            12,869.9        12,656.4        2 %
  Lines
  Total
  Commercial          519.6           513.8           1 %
  Auto
                                                
                                                                 

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

Our 2013 Annual Investor Relations Meeting is scheduled to be held on
Thursday, May 16, 2013 at 1:00 p.m. eastern time. To register for the webcast
and view upcoming events, visit the “Calendar of Events” page on our website
at http://investors.progressive.com/phoenix.zhtml?c=81824&p=irol-calendar.

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 it
whenever, wherever, and however it’s most convenient—online at
http://www.progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device
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^®,
Snapshot^®, and Service Centers.

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
 
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