Progressive Reports April Results

Progressive Reports April Results

MAYFIELD VILLAGE, Ohio--(BUSINESS WIRE)-- The Progressive Corporation today reported the following results for April 2013:

                     
(millions, except per share amounts and ratios; unaudited)   April     April   Change
2013 2012
 
Net premiums written $ 1,782.0 $ 1,672.0 7 %
Net premiums earned $ 1,639.9 $ 1,528.2 7 %
Net income $ 139.5 $ 61.2 128 %
Per share $ .23 $ .10 130 %
Total pretax net realized gains (losses) on securities
(including net impairment losses) $ 46.2 $

(7.9

)

NM
Combined ratio 91.3 95.1 (3.8) pts.
Average diluted equivalent shares 604.0 609.6 (1)%
 
NM = Not Meaningful                    
                 
(thousands; unaudited) April April
    2013 2012 Change

Policies in Force:

Agency - auto 4,845.2 4,853.1 0 %
Direct - auto 4,115.9 4,018.2 2 %
Total personal auto 8,961.1 8,871.3 1 %
Total special lines 3,970.3 3,899.3 2 %
Total Personal Lines 12,931.4 12,770.6 1 %
Total Commercial Auto 523.0 520.0 1 %
                     

See the complete release at http://investors.progressive.com/phoenix.zhtml?c=81824&p=irol-finRel for further information.


As previously announced, Progressive will host a simultaneous webcast of its 2013 Investor Relations Meeting on Thursday, May 16, 2013, beginning at 1:00 p.m. eastern time. This meeting will last approximately three hours and will include a question and answer session following the presentations. The meeting will also be available simultaneously, in a listen-only format, by phone. Participants via the phone will not be able to submit questions during the question and answer session. To attend the webcast or to receive the call-in instructions, visit our website at http://investors.progressive.com/phoenix.zhtml?c=81824&p=irol-calendar. Information that is distributed at the meeting will be made available at this website prior to the start of the webcast.

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 (NYS: PGR) .



The Progressive Corporation
Matt Downing, 440-395-4222
http://www.progressive.com

KEYWORDS:   United States  North America  Ohio

INDUSTRY KEYWORDS:

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