Exhibit 99

NEWS RELEASE

The Progressive Corporation	Company Contact:
6300 Wilson Mills Road	Matt Downing
Mayfield Village, Ohio 44143	(440) 395-4222
http://www.progressive.com

PROGRESSIVE REPORTS OCTOBER RESULTS

MAYFIELD VILLAGE, OHIO—November 16, 2011—The Progressive Corporation today reported the following results for October 2011:

	October		October		Change
(millions, except per share amounts and ratios; unaudited)	2011		2010
Net premiums written	$	1,454.7	$	1,335.2		9	%
Net premiums earned	$	1,448.5	$	1,394.0		4	%
Net income	$	55.7	$	76.5		(27	)%
Per share	$	.09	$	.12		(22	)%
Total pretax net realized gains (losses) on securities (including net impairment losses)	$	10.5	$	25.6		(59	)%
Combined ratio		96.7		95.9		.8 pts.
Average diluted equivalent shares		614.8		659.9		(7	)%

	October		October		Change
(in thousands; unaudited)	2011		2010
Policies in Force:
Agency – Auto		4,647.7		4,489.1		4	%
Direct – Auto		3,837.4		3,600.5		7	%
Total Personal Auto		8,485.1		8,089.6		5	%
Total Special Lines		3,821.8		3,645.8		5	%
Total Personal Lines		12,306.9		11,735.4		5	%
Total Commercial Auto		512.9		516.2		(1	)%

Progressive offers insurance to personal and commercial auto drivers throughout the United States. Our Personal Lines business writes insurance for personal autos and recreational vehicles. Our Commercial Auto business writes primary liability, physical damage, and other auto-related insurance for autos and trucks owned by small businesses.

See the “Income Statements” and “Supplemental Information” for further month and year-to-date information and the “Monthly Commentary” at the end of this release for additional discussion.

THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

INCOME STATEMENT

October 2011

(millions – except per share amounts)

(unaudited)

	Current Month			Comments on Monthly Results1
Net premiums written	$	1,454.7
Revenues:
Net premiums earned	$	1,448.5
Investment income		36.2
Net realized gains (losses) on securities:
Other-than-temporary impairment (OTTI) losses:
Total OTTI losses		(.1	)
Non-credit losses, net of credit losses recognized on previously recorded non-credit OTTI losses		0
Net impairment losses recognized in earnings		(.1	)
Net realized gains (losses) on securities		10.6
Total net realized gains (losses) on securities		10.5
Service revenues		2.1
Total revenues		1,497.3
Expenses:
Losses and loss adjustment expenses		1,101.2
Policy acquisition costs		136.3
Other underwriting expenses		162.7
Investment expenses		.7
Service expenses		2.0
Interest expense		12.1
Total expenses		1,415.0
Income before income taxes		82.3
Provision for income taxes		26.6
Net income	$	55.7
COMPUTATION OF EARNINGS PER SHARE
Basic:
Average shares outstanding		610.1
Per share	$	.09
Diluted:
Average shares outstanding		610.1
Net effect of dilutive stock-based compensation		4.7
Total equivalent shares		614.8
Per share	$	.09

¹  See the Monthly Commentary at the end of this release for additional discussion. For a description of our reporting and accounting policies, see Note 1 to our 2010 audited consolidated financial statements included in our 2010 Shareholders’ Report, which can be found at www.progressive.com/annualreport.

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THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

INCOME STATEMENTS

October 2011 Year-to-Date

(millions – except per share amounts)

(unaudited)

	Year-to-Date
	2011			2010			% Change
Net premiums written	$	13,063.2		$	12,536.0			4
Revenues:
Net premiums earned	$	12,574.4		$	12,085.2			4
Investment income		397.7			434.5			(8	)
Net realized gains (losses) on securities:
Other-than-temporary impairment (OTTI) losses:
Total OTTI losses		(6.0	)		(19.1	)		(69	)
Non-credit losses, net of credit losses recognized on previously recorded non-credit OTTI losses		.9			5.3			(83	)
Net impairment losses recognized in earnings		(5.1	)		(13.8	)		(63	)
Net realized gains (losses) on securities		88.7			57.6			54
Total net realized gains (losses) on securities		83.6			43.8			91
Service revenues		18.9			15.8			20
Net gain (loss) on extinguishment of debt		(.1	)		6.4			NM
Total revenues		13,074.5			12,585.7			4
Expenses:
Losses and loss adjustment expenses		9,019.5			8,554.7			5
Policy acquisition costs		1,181.5			1,147.4			3
Other underwriting expenses		1,543.9			1,490.8			4
Investment expenses		11.3			9.4			20
Service expenses		15.9			18.0			(12	)
Interest expense		108.5			112.7			(4	)
Total expenses		11,880.6			11,333.0			5
Income before income taxes		1,193.9			1,252.7			(5	)
Provision for income taxes		379.4			407.1			(7	)
Net income	$	814.5		$	845.6			(4	)
COMPUTATION OF EARNINGS PER SHARE
Basic:
Average shares outstanding		637.4			658.7			(3	)
Per share	$	1.28		$	1.28			0
Diluted:
Average shares outstanding		637.4			658.7			(3	)
Net effect of dilutive stock-based compensation		4.3			5.3			(19	)
Total equivalent shares		641.7			664.0			(3	)
Per share	$	1.27		$	1.27			0

NM = Not Meaningful

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THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

INCOME STATEMENT – OTHER INFORMATION

October 2011

(millions – except per share amounts)

(unaudited)

The following table sets forth the comprehensive income for the period:

	Current Month			Year-to-Date
				2011			2010
Net income	$	55.7		$	814.5		$	845.6
After-tax changes in:
Net unrealized gains (losses) on securities		133.2			(67.6	)		404.5
Net non-credit related OTTI losses		0			(.6	)		(3.5	)
Total net unrealized gains (losses) on securities		133.2			(68.2	)		401.0
Net unrealized gains on forecasted transactions		(.3	)		(6.3	)		(6.4	)
Foreign currency translation adjustment		(.1	)		.2			.2
Comprehensive income	$	188.5		$	740.2		$	1,240.4
Per share	$	.31		$	1.15		$	1.87

The following table sets forth the investment results for the period:

	Current Month			Year-to-Date
				2011			2010
Fully taxable equivalent total return:
Fixed-income securities		.5	%		2.9	%		7.2	%
Common stocks		11.3	%		1.8	%		9.3	%
Total portfolio		1.6	%		2.7	%		7.5	%
Pretax recurring investment book yield		2.9	%		3.2	%		3.6	%

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THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

October 2011

($ in millions)

(unaudited)

Current Month
										Commercial Auto Business
	Personal Lines Business												Other Businesses1		Companywide Total
	Agency			Direct			Total
Net Premiums Written	$	742.0		$	558.2		$	1,300.2		$	154.5		$	0	$	1,454.7
% Growth in NPW		7	%		10	%		8	%		16	%		NM		9	%
Net Premiums Earned	$	738.4		$	564.6		$	1,303.0		$	145.2		$	.3	$	1,448.5
% Growth in NPE		3	%		6	%		4	%		3	%		NM		4	%
GAAP Ratios
Loss/LAE ratio		76.1			75.7			75.9			76.6			NM		76.0
Expense ratio		19.9			21.3			20.5			21.6			NM		20.7
Combined ratio		96.0			97.0			96.4			98.2			NM		96.7
Actuarial Adjustments2
Reserve Decrease/(Increase)
Prior accident years															$	4.1
Current accident year																8.9
Calendar year actuarial adjustment	$	3.5		$	4.9		$	8.4		$	4.6		$	0	$	13.0
Prior Accident Years Development
Favorable/(Unfavorable)
Actuarial adjustment															$	4.1
All other development																(8.9	)
Total development															$	(4.8	)
Calendar year loss/LAE ratio																76.0
Accident year loss/LAE ratio																75.7
Statutory Ratios
Loss/LAE ratio																76.1
Expense ratio																20.3
Combined ratio																96.4

¹ The other businesses generated an underwriting loss of $0.8 million for the month. Combined ratios and % growth are not meaningful (NM) due to the low level of premiums earned by, and the variability of loss costs in, such businesses.

² Represents adjustments solely based on our corporate actuarial reviews.

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THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

October 2011 Year-to-Date

($ in millions)

(unaudited)

Year-to-Date

	Personal Lines Business									Commercial Auto			Other		Companywide
	Agency			Direct			Total			Business			Businesses1		Total
Net Premiums Written	$	6,643.0		$	5,095.2		$	11,738.2		$	1,324.9		$	.1	$	13,063.2
% Growth in NPW		2	%		7	%		4	%		5	%		NM		4	%
Net Premiums Earned	$	6,442.8		$	4,894.4		$	11,337.2		$	1,233.0		$	4.2	$	12,574.4
% Growth in NPE		3	%		8	%		5	%		(1	)%		NM		4	%
GAAP Ratios
Loss/LAE ratio		71.9			71.9			71.9			70.1			NM		71.7
Expense ratio		20.8			22.7			21.6			22.1			NM		21.7
Combined ratio		92.7			94.6			93.5			92.2			NM		93.4
Actuarial Adjustments2
Reserve Decrease/(Increase)
Prior accident years															$	133.4
Current accident year																38.2
Calendar year actuarial adjustment	$	68.0		$	60.1		$	128.1		$	43.5		$	0	$	171.6
Prior Accident Years Development
Favorable/(Unfavorable)
Actuarial adjustment															$	133.4
All other development																85.3
Total development															$	218.7
Calendar year loss/LAE ratio																71.7
Accident year loss/LAE ratio																73.4
Statutory Ratios
Loss/LAE ratio																71.7
Expense ratio																21.3
Combined ratio																93.0
Statutory Surplus															$	5,534.2

NM = Not Meaningful

¹ For the year, the other businesses generated an underwriting loss of $3.9 million.

² Represents adjustments solely based on our corporate actuarial reviews.

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THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

BALANCE SHEET AND OTHER INFORMATION

(millions – except per share amounts)

(unaudited)

	October 2011
CONDENSED GAAP BALANCE SHEET:
Investments – Available-for-sale, at fair value:
Fixed maturities1 (amortized cost: $11,494.1)	$	11,795.2
Equity securities:
Nonredeemable preferred stocks1 (cost: $493.6)		886.1
Common equities (cost: $1,389.9)		1,774.6
Short-term investments (amortized cost: $1,847.5)		1,847.5
Total investments2, 3		16,303.4
Net premiums receivable		3,068.9
Deferred acquisition costs		457.8
Other assets4		2,440.4
Total assets	$	22,270.5
Unearned premiums	$	4,832.8
Loss and loss adjustment expense reserves4		7,288.2
Other liabilities3		1,768.5
Debt		2,441.8
Shareholders’ equity		5,939.2
Total liabilities and shareholders’ equity	$	22,270.5
Common shares outstanding		616.7
Shares repurchased – October		4.2
Average cost per share	$	18.00
Book value per share	$	9.63
Trailing 12-month return on average shareholders’ equity		16.7	%
Net unrealized pretax gains (losses) on investments	$	1,075.5
Increase (decrease) from September 2011	$	204.9
Increase (decrease) from December 2010	$	(105.0	)
Debt-to-total capital ratio		29.1	%
Fixed-income portfolio duration		1.8 years
Weighted average credit quality		AA-
Year-to-date Gainshare factor		1.03

¹  As of October 31, 2011, we held certain hybrid securities and recognized a change in fair value of $2.8 million as a realized gain during the period we held these securities.

² Includes $4.9 billion of short-term investments and U.S. Treasury securities prior to settling $57.3 million of net security transactions outstanding at month-end.

³ Includes $57.3 million of net unsettled security transactions (as discussed in note 2 above).

⁴ Loss and loss adjustment expense reserves are stated gross of reinsurance recoverables on unpaid losses of $759.0 million, which are included in “other assets.”

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Monthly Commentary

• October’s written premium growth rates partially reflect the variability in disclosing monthly results. For example, October 1, which tends to be a higher volume premium day, falls in fiscal October 2011 vs. fiscal September 2010, resulting in a favorable effect on the reported written premium growth rates for the month. As a result, it may be more meaningful to analyze written premium growth on a trailing 3-month basis.

Events

We are currently scheduled to release November results on Wednesday, December 14, 2011, before the market opens.

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 for them—online at http://www.progressive.com, by phone at 1-800-PROGRESSIVE, or in-person with a local agent.

Progressive offers insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. We’re the fourth largest auto insurer in the country, the largest seller of motorcycle insurance, and a leader in commercial auto insurance. Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price^®, the Snapshot Discount^®, and a concierge level of claims service.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Statements in this release that are not historical fact are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. These risks and uncertainties include, without limitation, uncertainties related to estimates, assumptions, and projections generally; inflation and changes in economic conditions (including changes in interest rates and financial markets); the possible failure of one or more governmental entities to make scheduled debt payments or satisfy other obligations; the potential or actual downgrading of governmental, corporate, or other securities by a rating agency; the financial condition of, and other issues relating to the strength of and liquidity available to, issuers of securities held in our investment portfolios and other companies with which we have ongoing business relationships, including counterparties to certain financial transactions; the accuracy and adequacy of our pricing and loss reserving methodologies; the competitiveness of our pricing and the effectiveness of our initiatives to retain more customers; initiatives by competitors and the effectiveness of our response; our ability to obtain regulatory approval for requested rate changes and the timing thereof; the effectiveness of our brand strategy and advertising campaigns relative to those of competitors; legislative and regulatory developments, including, but not limited to, health care reform and tax law changes; disputes relating to intellectual property rights; the outcome of litigation pending or that may be filed against us; weather conditions (including the severity and frequency of storms, hurricanes, snowfalls, hail, and winter conditions); changes in driving patterns and loss trends; acts of war and terrorist activities; our ability to maintain the uninterrupted operation of our facilities, systems (including information technology systems), and business functions; court decisions and trends in litigation and health care and auto repair costs; and other matters described from time to time in our releases and publications, and in our periodic reports and other documents filed with the United States Securities and Exchange Commission. In addition, investors should be aware that generally accepted accounting principles prescribe when a company may reserve for particular risks, including litigation exposures. Accordingly, results for a given reporting period could be significantly affected if and when a reserve is established for one or more contingencies. Also, our regular reserve reviews may result in adjustments of varying magnitude as additional information regarding claims activity becomes known. Reported results, therefore, may be volatile in certain accounting periods.

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