|The following equity analysts cover and issue earnings estimates on Progressive:|
|Argus Research||Jacob Kilstein|
|Barclays Capital||Jay Gelb|
|BofA Merrill Lynch Research||Alison Jacobowitz|
|Citi Research||James Naklicki|
|Credit Suisse ||Ryan Tunis|
|Deutsche Bank||Joshua Shanker|
|Dowling & Partners||Gary Ransom|
|FBR Capital Markets||Randy Binner|
|J.P. Morgan||Sarah Dewitt|
|Janney Montgomery Scott||Robert Glasspiegel|
|Keefe, Bruyette & Woods||Meyer Shields|
|MKM Partners||Harry Fong|
|Morgan Stanley||Kai Pan|
|Raymond James||Gregory Peters|
|Sandler O'Neill||Paul Newsome|
|Wells Fargo Securities||Elyse Greenspan|
|William Blair & Company||Adam Klauber|
|The following fixed-income analysts cover Progressive's debt security issues:|
|Fitch Ratings||Christopher Grimes|
|Goldman Sachs||Lara Devieux|
|J.P. Morgan||Arun Kumar|
|Moody's Investors Service||Bruce Ballentine|
|Morgan Stanley||Donna Halverstadt|
|Standard & Poor's||Laline Carvalho|
|Progressive is covered by the analysts listed above. Please note that any opinions, estimates, or forecasts regarding Progressive's performance made by these analysts are theirs and do not represent opinions, forecasts, or predictions of The Progressive Corporation or its management. Progressive does not by its reference above or distribution imply any endorsement of or concurrence with such information, conclusions, or recommendations. The above may not represent a comprehensive list of analysts choosing to cover Progressive.|
|Financial Strength & Debt Ratings|
Financial Strength & Debt Ratings are independent opinions, based on a comprehensive quantitative and qualitative evaluation, of a company's balance sheet strength, operating performance, and business profile.
Financial Strength Rating:
The Financial Strength Rating provides an assessment of the financial strength of an insurance organization and its capacity to meet policyholders' claims and obligations on a timely basis.
The debt rating reflects a company's ability to meet its obligations to repay interest and principal on outstanding obligations to fixed-income investors.
Additional information about the ratings can be found at the respective rating agencies' websites.