Financial Release

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Progressive Reports September 2017 Results

MAYFIELD VILLAGE, OHIO - October 17, 2017 -- The Progressive Corporation (NYSE:PGR) today reported the following results for September 2017 and the third quarter of 2017:



    September    Quarter
(millions, except per share amounts and ratios; unaudited) 2017   2016   Change 2017   2016   Change
                             
Net premiums written $ 2,221.9     $ 1,861.9     19 % $ 7,142.4     $ 6,049.0     18 %
Net premiums earned $ 2,048.6     $ 1,783.0     15 % $ 6,544.0     $ 5,723.4     14 %
Net income attributable to Progressive $ 41.5     $ 75.6     (45) % $ 224.0     $ 198.7     13 %
Per share $ 0.07     $ 0.13     (45) % $ 0.38     $ 0.34     13 %
Total pretax net realized gains (losses) on                            
securities (including net impairment losses) $  (13.9)     $ (14.7)     (5) % $ (24.7)     $ (20.7)     19 %
Combined ratio 99.9   94.3     5.6 pts. 97.4     96.6      0.8 pts.
Average diluted equivalent shares 585.5   584.2   0 % 585.6     584.6   0 %
                             


(thousands; unaudited) September
2017
  September
2016
  Change
Policies in Force           
Vehicle businesses:          
 Agency - auto 5,515.3   4,980.1   11 %
 Direct - auto 5,889.6   5,324.0   11 %
   Total personal auto 11,404.9   10,304.1   11 %
   Total special lines 4,396.1   4,291.1   2 %
     Total Personal Lines 15,801.0   14,595.2   8 %
     Total Commercial Lines 638.6   612.7   4 %
Property business 1,375.6   1,184.7   16 %
               

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®, 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:

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 September 2017 Complete Earnings Release      

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