Progressive Announces Election of Heidi Miller to Board of Directors and Share Repurchase Authorization

MAYFIELD VILLAGE, Ohio--(BUSINESS WIRE)--The Board of Directors of The Progressive Corporation yesterday elected Heidi Miller, 58, to fill a vacancy on the Company’s Board for a term ending on the date of the Annual Meeting of Shareholders in April 2012.

Ms. Miller is President of International at J.P. Morgan, a leading financial services firm with operations in more than 60 countries. In this capacity, she leads the firm's significant global expansion efforts and spearheads the development of its international business strategy across the Investment Bank, Asset Management, and Treasury & Securities Services divisions. Ms. Miller also jointly leads J.P. Morgan Global Corporate Bank. As a member of J.P. Morgan's operating committee, she plays an integral role on the management team of JPMorgan Chase & Co. Most recently, Ms. Miller was the CEO of J.P. Morgan Treasury & Securities Services from January 2004 to June 2010. In that role, she led the division to become one of the world's largest cash management providers. Ms. Miller currently serves on the Board of Directors of General Mills, Inc., as a Trustee for Princeton University and on the Board of Conservation International.

The Board also approved a new authorization for the Company to repurchase up to 75 million of its Common Shares, in addition to the approximately 12.5 million shares that remained under the Board's June 2009 authorization as of May 31, 2011.

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 Discount^SM, 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).