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Progressive Corp.$71.04$.26.37%

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 Progressive Reports December 2016 Results and Annual Dividend Amount
   Wednesday, January 25, 2017 8:33:40 AM ET

MAYFIELD VILLAGE, OHIO - January 25, 2017 -- The Progressive Corporation (PGR ) today reported the following results for December and the fourth quarter 2016:

                                                     December                                                                                                                                                                                                                                                                    Quarter
(millions, except per share amounts and ratios; unaudited) 2016                                                                                                             2015                                                                                                              Change               2016                                                                        2015                                                                    Change
                                                                                                                                                                                                                                                                          
Net premiums written                                       $                    1,609.0                                                  $         1,392.4                                                                    16                                   %         $                    5,551.5                             $                    4,838.5        15                                %
Net premiums earned                                        $                    1,825.5                                                  $         1,604.0                                                                    14                                   %         $                    5,871.4                             $                    5,166.4        14                                %
Net income attributable to Progressive                     $                    161.9                                                    $         143.7                                                                      13                                   %         $                    383.2                               $                    330.4          16                                %
Per share                                                  $                    0.28                                                     $         0.24                                                                       13                                   %         $                    0.66                                $                    0.56           17                                %
Total pretax net realized gains (losses) on                                                                                                                                                                                                                                 
securities (including net impairment losses)               $                     (21.8)                    $                    3.5                                                                                   (723)                     %         $                    22.1                                $                    19.5           13                                %
Combined ratio                                             88.9                                                                                  88.4                                                                                                                                 0.5 pts.  92.7                                                                          92.0                                 0.7 pts.
Average diluted equivalent shares                          582.9                                                                                 587.1                                                                                                                              (1)                  %         583.0                                                                         587.4                             (1)                                %
                                                                                                                                                                                                                                                                          
(thousands; unaudited)                                                               December               December                
                            2016                                      2015                                      Change
Policies in Force                                                          
Vehicle businesses:                                                                           
 Agency - auto                                                    5,045.4                4,737.1                7 %
 Direct - auto                                                    5,348.3                4,916.2                9 %
   Total personal auto                         10,393.7               9,653.3                8 %
   Total special lines                         4,263.1                4,111.4                4 %
     Total Personal Lines   14,656.8               13,764.7               6 %
     Total Commercial Lines 607.9                  555.8                  9 %
Property business                                                                    1,201.9                1,076.5                12 %
                                     

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 us whenever, wherever and however it’s most convenient-online at http://www.progressive.com ,">http://www.progressive.com , by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. Home insurance is underwritten by select carriers, including American Strategic Insurance Corp. and subsidiaries (ASI), our majority owned subsidiaries.

Progressive is the fourth largest auto insurer in the country; a leading seller of motorcycle and commercial auto insurance; and through ASI, one of the top 20 homeowners carriers. 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(R), Snapshot(R) and Service Centers.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.

Company Contact:

Julia Hornack

(440) 395-2164

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 December 2016 Complete Earnings Release

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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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