Progressive Reports February 2014 Results

GlobeNewswire

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

(millions, except per share amounts and ratios; unaudited) February February Change
2014 2013
Net premiums written $ 1,538.7 $ 1,492.6 3 %
Net premiums earned $ 1,352.9 $ 1,286.4 5 %
Net income $ 47.0 $ 100.2 (53) %
     Per share $ .08 $ .17 (53) %
Total pretax net realized gains (losses) on securities
     (including net impairment losses) $ 5.7 $ 19.5 (71) %
Combined ratio 97.2 91.4 5.8 pts.
Average diluted equivalent shares 597.6 604.2 (1) %

(thousands; unaudited) February February
2014 2013 Change
Policies in Force:  
 Agency - auto 4,860.2 4,802.6 1 %
 Direct - auto 4,299.4 4,043.9 6 %
Total personal auto 9,159.6 8,846.5 4 %
Total special lines 3,977.5 3,934.8 1 %
Total Personal Lines 13,137.1 12,781.3 3 %
Total Commercial Lines 508.0 516.8 (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.

Progressive February 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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