February 12, 2014 at 08:28 AM EST
Progressive Reports January 2014 Results

 

MAYFIELD VILLAGE, OHIO - February 12, 2014 -- The Progressive Corporation (NYSE:PGR) today reported the following results for January 2014:

(millions, except per share amounts and ratios; unaudited) January January Change
2014 2013
Net premiums written $ 1,578.4 $ 1,537.8 3 %
Net premiums earned $ 1,674.5 $ 1,589.6 5 %
Net income $ 155.8 $ 134.2 16 %
     Per share $ .26 $ .22 17 %
Total pretax net realized gains (losses) on securities
     (including net impairment losses) $ 75.1 $ 42.4 77 %
Combined ratio 91.7 91.1 .6 pts.
Average diluted equivalent shares 598.7 605.0 (1) %

(thousands; unaudited) January January
2014 2013 Change
Policies in Force:  
 Agency - auto 4,838.4 4,768.3 1 %
 Direct - auto 4,253.3 3,997.5 6 %
Total personal auto 9,091.7 8,765.8 4 %
Total special lines 3,977.8 3,935.5 1 %
Total Personal Lines 13,069.5 12,701.3 3 %
Total Commercial Lines 510.1 517.1 (1) %

Progressive is scheduled to hold a one-hour conference call to address questions on Friday, February 28, 2014, at 9:00 a.m., eastern time, subsequent to the posting of our 2013 Shareholders` Report online and the filing of our 2013 Annual Report on Form 10-K with the SEC. Registration for the teleconference and webcast is available 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.

Company Contact:
Matt Downing
(440) 395-4222

The Progressive Corporation  
6300 Wilson Mills Road                     
 Mayfield Village, Ohio  44143  
http://www.progressive.com

To view the complete release, click the attachment below.

Progressive January 2014 Complete Earnings Release



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: The Progressive Corporation via GlobeNewswire

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