Progressive Announces Share Repurchase Authorization

Financial Release

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May 12, 2017 at 4:44 PM EDT
Progressive Announces Share Repurchase Authorization

MAYFIELD VILLAGE, OHIO - May 12, 2017 -  The Board of Directors of The Progressive Corporation (NYSE: PGR) today approved a new authorization for the Company to repurchase up to 25 million of its Common Shares. This authorization replaces the shares that remained under the Board's June 2011 authorization, which was also terminated today. The new authorization does not have an expiration date.

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, 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.

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