Progressive Reports June Results

MAYFIELD VILLAGE, Ohio--(BUSINESS WIRE)--The Progressive Corporation today reported the following results for June and the second quarter 2011:

	Month							Quarter
(millions, except per share amounts and ratios; unaudited)	2011		2010			Change		2011		2010			Change
Net premiums written	$	1,162.0	$	1,125.6		3	%	$	3,837.0	$	3,707.9		3	%
Net premiums earned	$	1,144.5	$	1,109.8		3	%	$	3,719.9	$	3,590.2		4	%
Net income	$	53.1	$	56.6		(6	)%	$	245.2	$	211.9		16	%
Per share	$	.08	$	.09		(3	)%	$	.38	$	.32		19	%
Pretax net realized gains (losses) on securities (including net impairment losses)	$	1.8	$	(32.4	)	NM		$	26.0	$	(39.5	)	NM
Combined ratio		96.3		92.3		4.0 pts.			93.4		92.7		.7 pts.
Average equivalent shares		643.2		664.8		(3	)%		647.9		665.7		(3	)%
NM = Not Meaningful

(in thousands; unaudited)			June	June	Change
			2011	2010
Policies in Force:
Agency – Auto			4,608.2	4,474.0	3	%
Direct – Auto			3,771.3	3,500.0	8	%
	Total Personal Auto		8,379.5	7,974.0	5	%
	Total Special Lines		3,796.8	3,618.3	5	%
		Total Personal Lines	12,176.3	11,592.3	5	%
		Total Commercial Auto	512.0	520.2	(2	)%

See the complete release at http://investors.progressive.com/pdf/mreport-0611.pdf for further information. If you experience technical difficulties using this link, please email [e-mail] and a PDF of the release will be sent to you promptly.

Progressive is scheduled to hold a one-hour conference call to address questions on Thursday, August 11, 2011 at 9:00 a.m., eastern time, subsequent to the posting of our Shareholders’ Report online and the filing of our Quarterly Report on Form 10-Q with the SEC. Registration for the teleconference and webcast is available at http://investors.progressive.com/events.aspx.

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).