Progressive Reports July 2014 Results

 

MAYFIELD VILLAGE, OHIO - August 13, 2014 -- The Progressive Corporation PGR today reported the following results for July 2014:

	(millions, except per share amounts and ratios; unaudited)	July			July			Change
		2014			2013
	Net premiums written	$	1,809.7		$	1,732.2		4 %
	Net premiums earned	$	1,743.5		$	1,654.1		5 %
	Net income	$	119.3		$	101.5		18 %
	Per share	$	.20		$	.17		19 %
	Total pretax net realized gains (losses) on securities
	(including net impairment losses)	$	15.4		$	11.5		34 %
	Combined ratio		91.6			92.7		(1.1) pts.
	Average diluted equivalent shares		595.0			604.0		(1) %

	(thousands; unaudited)			July		July
				2014		2013		Change
	Policies in Force:
	Agency - auto			4,828.4		4,840.0		0 %
	Direct - auto			4,419.4		4,141.4		7 %
		Total personal auto		9,247.8		8,981.4		3 %
		Total special lines		4,084.0		4,043.4		1 %
			Total Personal Lines	13,331.8		13,024.8		2 %
			Total Commercial Lines	516.9		526.0		(2) %

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.

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