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Progressive Corp.$59.83$.32.54%

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 Progressive Reports December 2017 Results and Annual Dividend Amount
   Wednesday, January 24, 2018 8:42:57 AM ET

MAYFIELD VILLAGE, OHIO - January 24, 2018 -- The Progressive Corporation (PGR ) today reported the following results for December 2017 and the fourth quarter of 2017:

                                                     December                                                                                                                                                                                                                                                                    Quarter
(millions, except per share amounts and ratios; unaudited) 2017                                                                                                             2016                                                                                                              Change               2017                                                                        2016                                                                     Change
                                                                                                                                                                                                                                                                           
Net premiums written                                       $                    1,972.3                                                  $         1,609.0                                                                    23                                   %         $                    6,752.6                             $                    5,551.5        22                                  %
Net premiums earned                                        $                    2,144.7                                                  $         1,825.5                                                                    17                                   %         $                    6,845.9                             $                    5,871.4        17                                  %
Net income attributable to Progressive                     $                    261.3                                                    $         161.9                                                                      61                                   %         $                    576.3                               $                    383.2          50                                  %
Per share                                                  $                    0.45                                                     $         0.28                                                                       61                                   %         $                    0.98                                $                    0.66           50                                  %
Total pretax net realized gains (losses) on                                                                                                                                                                                                                                 
securities (including net impairment losses)               $                     (12.6)                    $                    (21.8)                                                                                (42)                      %         $                    (9.7)                               $                    22.1           (144)                               %
Combined ratio                                             90.7                                                                                  88.9                                                                                                                                 1.8 pts.  91.4                                                                          92.7                                 (1.3) pts.
Average diluted equivalent shares                          585.9                                                                                 582.9                                                                                                                              1                    %         585.7                                                                         583.0                             0                                   %
                                                                                                                                                                                                                                                                           
(thousands; unaudited)                                                               December               December                
                            2017                                      2016                                      Change
Policies in Force                                                          
Vehicle businesses:                                                                           
 Agency - auto                                                    5,670.7                5,045.4                12 %
 Direct - auto                                                    6,039.1                5,348.3                13 %
   Total personal auto                         11,709.8               10,393.7               13 %
   Total special lines                         4,365.7                4,263.1                2 %
     Total Personal Lines   16,075.5               14,656.8               10 %
     Total Commercial Lines 646.8                  607.9                  6 %
Property business                                                                    1,461.7                1,201.9                22 %
                                     

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 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 insurance carriers.

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 HomeQuote Explorer(R).

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.

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

Progressive December 2017 Complete Earnings Release - http://hugin.info/152879/R/2163308/832182.pdf



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