Progressive Reports June Results

MAYFIELD VILLAGE, Ohio--(BUSINESS WIRE)--The Progressive Corporation today reported the following results for June and second quarter 2008:

	Month						Quarter
(millions, except per share amounts and ratios)	2008		2007		Change		2008		2007		Change
Net premiums written	$1,046.6		$1,056.6		(1)%		$3,510.7		$3,558.7		(1)%
Net premiums earned	$1,049.6		$1,076.6		(3)%		$3,411.2		$3,509.2		(3)%
Net income	$27.3		$65.4		(58)%		$215.5		$283.7		(24)%
Per share	$.04		$.09		(55)%		$.32		$.39		(18)%
Pretax net realized gains (losses) on securities	$(53.3)		$(10.0)		433%		$(44.6)		$(6.6)		576%
Combined ratio	97.0		95.7		1.3 pts.		93.6		92.3		1.3 pts.
Average diluted equivalent shares	673.5		726.9		(7)%		673.7		729.5		(8)%
(in thousands)
Policies in Force	June 2008		June 2007		Change
Total Personal Auto	7,127.9		7,052.4		1%
Total Special Lines	3,328.7		3,081.7		8%
Total Commercial Auto	556.8		534.2		4%

See the complete release at http://investors.progressive.com/pdf/mreport-0608.pdf for further information.

Progressive is scheduled to hold a one-hour conference call to address questions on Friday, August 8, 2008, 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, in business since 1937, is one of the country’s largest auto insurance groups, the largest seller of motorcycle and personal watercraft policies and a market leader in commercial auto insurance based on premiums written.

Progressive is committed to becoming consumers’ #1 choice for auto insurance by providing competitive rates and products that meet drivers’ needs throughout their lifetimes, superior online and in-person customer service, and best-in-class, 24-hour claims service, including its concierge level of claims service available at service centers located in major metropolitan areas throughout the United States.

Progressive companies offer consumers choices in how to shop for, buy and manage their auto insurance policies. Progressive offers its products, including personal and commercial auto, motorcycle, boat and recreational vehicle insurance, through more than 30,000 independent insurance agencies throughout the U.S. and online and by phone directly from the Company. To find an agent or to get a quote, go to www.progressive.com.

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