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Progressive Reports March Results

 

Thursday, Apr 16,2009, 12:02:21 AM   Click:

Business Wire
Published: Tuesday, April 14, 2009
The Progressive Corporation today announced the following results forMarch and first quarter 2009:


MonthQuarter (in millions, except per share amounts and ratios) 20092008Change20092008ChangeNet premiums $ 1118.36 $ 1182.6 $ 3522.9 $% 3490.41% Net premiums earned $ 1056.1 $ 1049.41 $% 3406, 6 $ 3390.00% Net income $ 8.6 $ 71.3 (88)% $ 232.5 $ 239.4 (3)% Per share $ 01 $. 11 (88)% $ .35 $ .350% pre-tax net realized gains (losses) on securities $ (87.5) $ (29.0)% $ 202 (73.4) $ 32.2NMCombined ratio90. 592.8 (2.3) pts.89.594.6 (5.1) pts.Average equivalent shares672.0675.20% 672.0677.3 (1)% NM = not meaningful (in thousands) MarchMarchChangePolicies Effective 20092008Agency - Auto4, 348.74,442.6 (2)% Direct - AUTO2, 954.02,679.410% Total Personal Auto7, 302.77,122.03% Total Special Lines3, 377.83,151.87% Total Personal Lines10, 680.510,273.84% Total Auto532.6545.4 Commercial (2 )%----- ------------------------------------- ------------- ------------- -----------

See the complete http://investors.progressive.com/pdf/mreport-0309.pdffor for more information. If you experience technical difficulties using this tool link, please e-mail investor_relations@progressive.comand a PDF of the publication will be sent quickly.


About Progressive


The Progressive Group of Insurance Companies, in business since 1937, Isone the country's largest group of auto insurance, most policies sellerof motorcycle and a market leader in commercial auto premiums on insurancebased writing.


Progressive is committed to becoming consumers' # 1 choice for autoinsurance offering competitive rates and innovative products and services that meet drivers needs throughout their lifetimes, includingsuperior in person and online service to customers, and best-in-class ,24-hours service requests, such as its concierge level of claims serviceavailable at service centers located in major cities areasthroughout the United States.


Progressive companies offer consumers choices in how to shop for buyand manage their policies of automobile insurance. Progressive offers itsproducts, including personal and commercial auto, motorcycle, boat andrecreational vehicle insurance, through more than 30,000 agencies throughout independentinsurance the United States and online and by phone directlyfrom the Company. Private passenger auto products and prices aredifferent at the time of purchase directly from Progressive or throughindependent agencies. To find an agent or get a quote, go to http://www.progressive.com.


The Common Shares of The Progressive Corporation, Mayfield Village, Ohio-based holding company, are publicly traded at (NYSE: PGR). For more information, including a guide to interpreting the monthly reportingpackage, visit http://www.progressive.com.

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