Progressive Reports August Results

MAYFIELD VILLAGE, Ohio--The Progressive Corporation today reported the following results for August 2008:


(millions, except per share amounts and ratios)	August 2008	August 2007	Change
Net premiums written¹	$1,103.3	$1,052.2	5%
Net premiums earned	$1,050.4	$1,063.1	(1)%
Net income (loss)	$(135.2)	$76.9	NM
Per share	$(.20)	$.11	NM
Pretax net realized gains (losses) on securities¹	$(317.5)	$12.4	NM
Combined ratio	94.3	95.7	(1.4) pts.
Average diluted equivalent shares	672.9	709.7	(5)%

NM = Not Meaningful
¹ See the “Monthly Commentary” in the complete release, using the link below, for additional discussion.

(in thousands)	August 2008	August 2007	Change
Policies in Force:
Total Personal Auto	7,083.4	7,016.0	1%
Total Special Lines	3,401.7	3,137.8	8%
Total Commercial Auto	554.9	539.7	3%

See the complete release at http://investors.progressive.com/pdf/mreport-0808.pdf for further information.

About Progressive

The Progressive Group of Insurance Companies, in business since 1937, is one of the country’s largest auto insurance groups, the largest seller of motorcycle and personal watercraft policies, and a market leader in commercial auto insurance based on premiums written.

Progressive is committed to becoming consumers’ #1 choice for auto insurance by providing competitive rates and innovative products and services that meet drivers’ needs throughout their lifetimes, including superior online and in-person customer service, and best-in-class, 24-hour claims service, such as its concierge level of claims service available at service centers located in major metropolitan areas throughout the United States.

Progressive companies offer consumers choices in how to shop for, buy and manage their auto insurance policies. Progressive offers its products, including personal and commercial auto, motorcycle, boat and recreational vehicle insurance, through more than 30,000 independent insurance agencies throughout the U.S. and online and by phone directly from the Company. Private passenger auto products and prices are different when purchased directly from Progressive or through independent agencies.