The Progressive Corporation http://www.alacrastore.com/company-snapshot/The_Progressive_Corporation-1013617 Friday, January 09, 2009 6:10:20 AM 1013617 The Progressive Corporation en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/cs/77800cs/77800norm Progressive #Q## Tearsheet The company maintains conservative financial leverage and its coverage ratios are strong. From a financial strength perspective, Progressive remains on solid footing but its financial flexibility has been...77800436YesC21Tearsheet1146tearsheets/premium3212/9/2008 10:05:19 PM15077800Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/ccbn/T1997799ccbn/T1997799norm...Welcome to the Progressive Corporation's investor relations conference call. This conference call is also available via an audio webcast. Webcast participants will be able to listen only throughout the duration of the call. In addition this conference is being recorded at the request of Progressive. If you have any objections you may disconnect at this time. The company will not make detailed comments in addition to those provided in this quarterly report on Form ##Q, shareholders report, or letter to shareholders which have been posted to the company's website and will use this conference call to respond to questions. Acting as moderator for the call will be Patrick Brennan. At this time I will turn the call over to Mr. Brennan. ... 11/12/2008 10:06:00 AMThe Progressive Corporation54.0000FinalThe Progressive Corporation Investor Relations Conference Call TranscriptPGR9:00am ETTranscriptT1997799Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/bir/307108bir/307108normProgressive Corp.The Progressive Corp.Progressive Corp. TheUnited StatesInsurance: Underwriter of property and casualty insurance. Finance: Holding company.6331671952412655111217ILPGR11/7/2008 8:20:00 AM307108Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/newstex/BW-0001-29178203newstex/BW-0001-29178203xml Nov. #, #### (Business Wire) -- As previously announced, The Progressive Corporation will host a one-hour conference call on Wednesday November ##, ####, beginning at #:## a.m. eastern time. On November ##, ####, Progressive expects...04000000040060000400600604016000040160480401601811/4/2008 10:21:25 AM180000001800800018004000Business WireBW-0001-29178203PROGRESSIVE CORPGLENN M RENWICKPGRNewsNewstexhttp://www.alacrastore.com/storecontent/spcred/676358spcred/676358normThe latest News from S&Pglobal10/10/2008 6:39:58 PM100News676358United StatesProperty & Casualty InsuranceUnited StatesGlobal IssuersInsuranceNewsNEW YORK (Standard&Poor's) Oct. 10, 2008--Standard&Poor's Ratings Services said today that it affirmed its 'A+' counterparty credit rating on Progressive Corp. (NYSE:PGR) and its 'AA+' counterparty credit and financial strength ratings on PGR's core operating insurance subsidiaries. Standard&Poor's also said that the outlook on all these companies remains negative. The affirmations follow PGR's announcement that it had a pretax loss of $684 million for the third quarter of 2008 compared with pretax income of $299.2 million for the same quarter of 2007. The ratings on PGR and its subsidiaries reflect the companies' strong competitive position, well-recognized franchise, and dominant market position as the third-largest auto writer in the U.S., with about a 7.2% marketUSA74331540301040 403010 4030 40Progressive Corp.107790USAPGRNEWSGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/676359spcred/676359normThe latest Research Update from S&Pglobal10/10/2008 6:39:00 PM175Research Update676359United StatesProperty & Casualty InsuranceUnited StatesGlobal IssuersInsuranceResearch UpdateOn Oct. 10, 2008, Standard&Poor's Ratings Services affirmed its 'A+' counterparty credit rating on Progressive Corp. (NYSE:PGR) and its 'AA+' counterparty credit and financial strength ratings on PGR's core operating insurance subsidiaries. The outlook on all these companies remains negative. The affirmations follow PGR's announcement that it had a pretax loss of $684.2 million for the third quarter of 2008 compared with pretax income of $299.2 million for the same quarter of 2007. The ratings on PGR and its subsidiaries reflect the companies' strong competitive position, well-recognized franchise, and dominant market position as the third-largest auto writer in the U.S., with about a 7.2% market share. Progressive's geographic and diversified distribution strategy, with products delivered in all 50USA74331540301040 403010 4030 40Progressive Corp.107790USAPGRRESUPDUSA84752*74338#74332#74337#40301040 403010 4030 40Progressive Casualty Insurance Co.Progressive American Insurance Co.Progressive Specialty Insurance Co.Progressive Northwestern Insurance Co.Progressive Southeastern Insurance Co.Progressive Gulf Insurance Co.Progressive Preferred Insurance Co.Progressive Northern Insurance Co.United Financial Casualty Co.Progressive Classic Insurance Co.National Continental Insurance Co.Progressive Direct Insurance Co.Progressive Marathon Insurance Co.Progressive Home Insurance Co.Progressive West Insurance Co.Progressive County Mutual Insurance Co.Progressive Max Insurance Co.Progressive Mountain Insurance Co.Progressive Choice Insurance Co.Mountain Laurel Assurance Co.Progressive Bayside Insurance Co.Progressive Universal Insurance Co.Progressive Premier Insurance Co. of ILProgressive Paloverde Insurance Co.Progressive Auto Pro Insurance Co.Progressive Hawaii Insurance Corp.Progressive Consumers Insurance Co.Progressive Express Insurance Co.Progressive Michigan Insurance Co.Progressive Northeastern Insurance Co.Progressive Security Insurance Co.109067109068109069109070109071109072109073109074109075109076110516124677124986125080125461125556125557125558125771126216302859302877302878302949307007307121307135307137307138307139307140USA12287Z12285Z12297Z12293Z12296Z12288Z12294Z12292ZPGRPGR11969ZPGRPGRPGRPGRPGR12289Z12290Z12504Z11921Z12286ZPGR12295ZPGRPGRPGRPGRPGRPGRPGRPGRGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/445377_pr_framefitch/445377_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.United Financial Casualty CompanyProgressive Freedom Insurance CompanyThe Progressive CorporationMountain Laurel Assurance CompanyProgressive Bayside Insurance CompanyProgressive Universal Insurance Company of IllinoisProgressive Specialty Insurance CompanyProgressive Paloverde Insurance CompanyProgressive Gulf Insurance CompanyDrive New Jersey Insurance CompanyProgressive Casualty Insurance CompanyArtisan & Truckers Casualty CompanyProgressive Michigan Insurance CompanyProgressive Preferred Insurance CompanyProgressive West Insurance CompanyProgressive Garden State Insurance CompanyProgressive Marathon Insurance CompanyProgressive Northwest Insurance CompanyProgressive Express Insurance CompanyProgressive American Insurance CompanyProgressive Security Insurance CompanyProgressive Choice Insurance CompanyProgressive Auto Pro Insurance CompanyProgressive Premier Insurance Company of IllinoisProgressive Home Insurance CompanyProgressive Southeast. Insurance CompanyHalcyon Insurance CompanyProgressive Northeastern Insurance CompanyProgressive Mountain Insurance CompanyProgressive Hawaii Insurance Corp.Progressive Classic Insurance CompanyProgressive Max Insurance Company800916288386348580091611838634918009161380091612800916338009162283863274800916108386347680091619838634678009161880091631838634738009162683863488800916218009161483863482800916298009163080091625838634798386347080091615800916238009162780090257800916168009163210/10/2008 6:31:00 PM0101030001010000010103080100000085Press ReleasePGR445377_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/newstex/BW-0001-28658190newstex/BW-0001-28658190xml Oct. ##, #### (Business Wire) -- The Progressive Corporation today reported the following results for September and the third quarter ####: A Month A Quarter (millions, except per share amounts and ratios) #### A ####...04000000040060000400600604016000040160180401604810/10/2008 3:19:03 PM180000001800400018008000190000001900100019001031Business WireBW-0001-28658190PROGRESSIVE CORPPGRNewsNewstexhttp://www.alacrastore.com/storecontent/moodys/PR_162833_720950moodys/PR_162833_720950htmlGlobal Credit Research Rating Action ## SEP #### Rating Action: Progressive Casualty Insurance Co Moody's affirms Progressive ratings, outlook on debt changed to negative Rating action considers company's exposure to Fannie Mae and...9/13/2008 12:28:30 PMhtmlProgressive Casualty Insurance CoProgressive Corporation (The)Progressive Casualty GroupProgressive Bayside Ins CoProgressive American Insurance Co.Progressive Specialty Insurance Co.Progressive Preferred Insurance Co.Progressive Northern Insurance Co.Progressive Southeastern Insurance Co.Progressive Gulf Insurance Co.Progressive Northwest. Insurance Co.Progressive Mountain Insur. Co.Progressive Classic Insurance CompanyUnited Financial Casualty Co.National Continental Insurance Co.Halcyon Insurance CompanyHalcyon Insurance Company; National Continental Insurance Co.; ...720950621600600015467600010632121301208012030119701192011870118201177011720116701162011570150.0000NewsRating ActionPR_162833_720950Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/cs/74079cs/74079norm Progressive #Q## Tearsheet We believe the personal lines insurer is appropriately rated in the A range on a senior unsecured basis.From a financial strength perspective, Progressive remains on solid footing. By all credit metrics, the...74079438YesC21Tearsheet1146tearsheets/premium329/11/2008 6:25:24 PM15074079Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/spcred/670718spcred/670718normThe latest News from S&Pglobal9/11/2008 3:30:07 PM100News670718United StatesProperty & Casualty InsuranceUnited StatesGlobal IssuersInsuranceNewsNEW YORK (Standard&Poor's) Sept. 11, 2008--Standard&Poor's Ratings Services today said it revised its outlook on Progressive Corp. (PGR) and the members of the Progressive Insurance Group (collectively, Progressive) to negative from stable. At the same time, we affirmed our 'A+' counterparty credit rating on PGR and our 'AA+' counterparty credit and financial strength ratings on Progressive. "The outlook revision reflects our belief that Progressive's operating results will be strained in the near term because of pressures in the highly competitive and commoditized automobile insurance market. Also, the technological and innovative leadership of the company will be challenged," said Standard&Poor's credit analyst Neil Stein. This is reflected in its combined ratios, which are more inUSA74331540301040 403010 4030 40Progressive Corp.107790USAPGRNEWSGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/670719spcred/670719normThe latest Research Update from S&Pglobal9/11/2008 3:30:00 PM175Research Update670719United StatesProperty & Casualty InsuranceUnited StatesGlobal IssuersInsuranceResearch UpdateOn Sept. 11, 2008, Standard&Poor's Ratings Services revised its outlook on Progressive Corp. (PGR) and the members of the Progressive Insurance Group (collectively, Progressive) to negative from stable. At the same time, we affirmed our 'A+' counterparty credit rating on PGR and our 'AA+' counterparty credit and financial strength ratings on Progressive. The outlook revision reflects Standard&Poor's belief that Progressive's operating results will be strained in the near term because of pressures in the highly competitive and commoditized automobile insurance market. Further, we believe that the technological and innovative leadership of the company will be challenged, as reflected by its combined ratios being more in line with lower-rated peers'. Furthermore, financial flexibility at the holding company,USA74331540301040 403010 4030 40Progressive Corp.107790USAPGRRESUPDUSA74332#84752*74337#74338#40301040 403010 4030 40Progressive Casualty Insurance Co.Progressive American Insurance Co.Progressive Specialty Insurance Co.Progressive Northwestern Insurance Co.Progressive Southeastern Insurance Co.Progressive Gulf Insurance Co.Progressive Preferred Insurance Co.Progressive Northern Insurance Co.United Financial Casualty Co.Progressive Classic Insurance Co.National Continental Insurance Co.Progressive Direct Insurance Co.Progressive Marathon Insurance Co.Progressive Home Insurance Co.Progressive West Insurance Co.Progressive County Mutual Insurance Co.Progressive Max Insurance Co.Progressive Mountain Insurance Co.Progressive Choice Insurance Co.Mountain Laurel Assurance Co.Progressive Bayside Insurance Co.Progressive Universal Insurance Co.Progressive Premier Insurance Co. of ILProgressive Paloverde Insurance Co.Progressive Auto Pro Insurance Co.Progressive Hawaii Insurance Corp.Progressive Consumers Insurance Co.Progressive Express Insurance Co.Progressive Michigan Insurance Co.Progressive Northeastern Insurance Co.Progressive Security Insurance Co.109067109068109069109070109071109072109073109074109075109076110516124677124986125080125461125556125557125558125771126216302859302877302878302949307007307121307135307137307138307139307140USA12287Z12285Z12297Z12293Z12296Z12288Z12294Z12292ZPGRPGR11969ZPGRPGRPGRPGRPGR12289Z12290Z12504Z11921Z12286ZPGR12295ZPGRPGRPGRPGRPGRPGRPGRPGRGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/434000_pr_framefitch/434000_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Artisan & Truckers Casualty CompanyDrive New Jersey Insurance CompanyHalcyon Insurance CompanyMountain Laurel Assurance CompanyProgressive American Insurance CompanyProgressive Auto Pro Insurance CompanyProgressive Bayside Insurance CompanyProgressive Casualty Insurance CompanyProgressive Choice Insurance CompanyProgressive Express Insurance CompanyProgressive Freedom Insurance CompanyProgressive Garden State Insurance CompanyProgressive Gulf Insurance CompanyProgressive Hawaii Insurance Corp.Progressive Home Insurance CompanyProgressive Marathon Insurance CompanyProgressive Max Insurance CompanyProgressive Michigan Insurance CompanyProgressive Mountain Insurance CompanyProgressive Northeastern Insurance CompanyProgressive Northern Insurance Co.Progressive Northwest Insurance CompanyProgressive Paloverde Insurance CompanyProgressive Preferred Insurance CompanyProgressive Premier Insurance Company of IllinoisProgressive Security Insurance CompanyProgressive Southeast. Insurance CompanyProgressive Specialty Insurance CompanyProgressive Universal Insurance Company of IllinoisProgressive West Insurance CompanyThe Progressive CorporationUnited Financial Casualty Company8009025780091609800916108009161180091612800916138009161480091616800916188009161980091621800916228009162380091624800916258009162680091627800916288009162980091630800916318009163280091633838632748386346783863470838634738386347683863479838634828386348583863488838634919/10/2008 6:28:00 PM0100000001010000010103000101030885Press ReleasePGR434000_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/396606_report_framefitch/396606_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.The Progressive Corporation800902578/12/2008 2:19:00 PM01010308165Credit UpdatePGR396606_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/ccbn/T1893878ccbn/T1893878norm...Welcome to The Progressive Corporation investors relations conference call. This conference call is also available via a web cast. Web cast participants will be able to listen throughout the duration of the call. In addition this conference is being recorded at the request of Progressive. If you have any objections you may disconnect at this time. You may begin. ... 8/8/2008 10:05:00 AMThe Progressive Corporation54.0000FinalThe Progressive Corporation Investor Relations Conference Call TranscriptPGR9:00am ETTranscriptT1893878Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/moodys/PBC_109699moodys/PBC_109699pdf...The Aa# insurance financial str ength ratings on the lead insurance subsidiaries of Progressive Corporat ion (NYSE: PGR), and the A# rating on the company s senior debt reflect the organization's leadership position in the personal automobile market, along with its strong commitment to profitability and efficiency in its core business, ex cellent use of data and technology, a record of product and operational i nnovation, and strong risk adjusted capitalization. In addition, the company s debt is supported by substantial invested assets at Progre ssive Investment Company, which is directly owned by the parent. Tempering Progressives strengths is the group s product concentration in personal automobile insurance, which tends to magnify the impact of broad market disruptions and accentuates ex posures to regulation and competition. Also constraining the rating to a degree is the company s commitment to aggressively managing capital levels by maintaining a relatively high... 7/3/2008 4:12:59 PMpdfProgressive Corporation (The)Progressive Corporation (The)621600300.0000AnalysisAnalysisPBC_109699Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1872517ccbn/T1872517norm... - The Progressive Corporation - President & CEO (Audio in progress) -- what we do, what we don't do, why we do what we do and just trying to give you a picture of the sort of relative risk profile that we're willing to take on to support the underlying insurance business. So that is sort of our formal array ... 6/13/2008 5:04:00 PMThe Progressive Corporation54.0000FinalThe Progressive Corporation 2008 Investor Relations Meeting TranscriptPGR9:00am ETTranscriptT1872517Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/moodys/PBC_109168moodys/PBC_109168pdf...The Progressive Corporation (NYSE: PGR) is an Ohio-based, publicly traded holding company for a host of insurance subsidiaries that write property and casualty insurance for individuals and businesses through independent agency and direct distribution channels in the United States. The company has been a leader in data analysis, pricing segmentation, the use of technology and operational efficiency, helping drive strong underwriting performance and good expense efficiency. With close to $## billion of net premiums written during ####, Progressive ranks among the largest domestic property and casualty insurance groups and is the third largest underwriter of both personal automobile and commercial automobile insurance in the United States. The company's revenues are geographically diversified, with business operations in ## st ates plus the District of Columbia. This diversification provides some benefit as auto insurance is re gulated at the state level with differing competitive... 5/21/2008 4:26:28 PMpdfProgressive Corporation (The)Progressive Corporation (The)621600550.0000SpecialReportCompany ProfilePBC_109168Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PBC_105593moodys/PBC_105593pdf...The Progressive Corporation (NYSE: PGR) is an Ohio-based, publicly traded holding company for a host of insurance subsidiaries that write property and casualty insurance to individuals and businesses through independent agency and direct distribution channels in the Unit ed States. The company has been a leader in data analysis, pricing segmentation, the use of technology and operational efficiency, helping drive strong underwriting performance and good expense efficiency. With $## billion of net premiums writt en during ####, Progressive ranks among the largest domestic property and casualty insurance groups and is the third largest underwriter of both persona l automobile and commercial automobile insurance in the United States. The company's revenues are geographically diversified, with business operations in ## states plus the District of Columbia. This diversification provides some benefit as auto insuranc e is regulated at the state level with differing competitive... Company Profile3/30/2008 8:45:29 PMProgressive Corporation (The)621600550.0000SpecialReportpdfProgressive Corporation (The)PBC_105593Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/fitch/414472_pr_framefitch/414472_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Alfa CorporationBerkshire Hathaway Inc.Cincinnati Financial CorporationCNA Financial CorporationFairfax Financial Holdings LimitedHarleysville Group Inc.Infinity Property and Casualty CorporationLeucadia National CorporationMarsh & McLennan Companies, Inc.Max Re Europe LimitedMercury General CorporationPartner Reinsurance Company LimitedReinsurance Group of America, Inc.Renaissance Reinsurance LimitedSAFECO CorporationThe Chubb CorporationThe Progressive Corporation8008990080090257800906088009072580090743800907538009085180090869800908978009092280091036800911048009121580092129804171798046938880688621821347613/26/2008 2:13:00 PM0101020701010300010103030101030601010308010103090101031385Press ReleaseBRK.ACBCINFCNAFFHHGICIPCCLUKMCYMMCPGRRGASAF414472_pr_frameCredit & Investment ResearchFitch Research