8-K

0001193125-12-421559.txt : 20121012 0001193125-12-421559.hdr.sgml : 20121012 20121012090354 ACCESSION NUMBER: 0001193125-12-421559 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20121012 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20121012 DATE AS OF CHANGE: 20121012 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROGRESSIVE CORP/OH/ CENTRAL INDEX KEY: 0000080661 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 340963169 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09518 FILM NUMBER: 121141098 BUSINESS ADDRESS: STREET 1: 6300 WILSON MILLS RD CITY: MAYFIELD VILLAGE STATE: OH ZIP: 44143 BUSINESS PHONE: 4404615000 MAIL ADDRESS: STREET 1: 6300 WILSON MILLS RD CITY: MAYFIELD VILLAGE STATE: OH ZIP: 44143 8-K 1 d424125d8k.htm 8-K 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 12, 2012

THE PROGRESSIVE CORPORATION

(Exact name of registrant as specified in its charter)

Ohio

1-9518

34-0963169

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)


6300 Wilson Mills Road, Mayfield Village, Ohio				44143
(Address of principal executive offices)				(Zip Code)

Registrant’s telephone number, including area code 440-461-5000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d)

On October 12, 2012, the Board of Directors of The Progressive Corporation elected Jeffrey D. Kelly, 59, to fill a vacancy on the Company’s Board for a term ending on the date of the Company’s Annual Meeting of Shareholders in 2013. Mr. Kelly was then appointed to serve on the Compensation Committee of the Board. There are no arrangements or understandings between Mr. Kelly and any other person, pursuant to which he was elected as a director. Mr. Kelly’s compensation as a director will be provided on the same basis as that provided to the Company’s other non-employee directors, as further described in the Company’s Proxy Statement dated March 9, 2012, at pages 53-54. Certain of Mr. Kelly’s biographical information is included in the press release attached hereto as Exhibit 99.

Item 7.01 Regulation FD Disclosure.

On October 12, 2012, the Company issued a news release announcing that its Board of Directors had declared a special cash dividend of $1.00 per Common Share, payable November 29, 2012 to shareholders of record at the close of business on November 21, 2012. A copy of the news release is attached hereto as Exhibit 99.

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits

See exhibit index on page 4.

- 2 -

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: October 12, 2012
	THE PROGRESSIVE CORPORATION

	By:	/s/ Charles E. Jarrett
	Name:	Charles E. Jarrett
	Title:	Vice President, Secretary and Chief Legal Officer

- 3 -

EXHIBIT INDEX


Exhibit No. Under Reg. S-K Item 601	Form 8-K Exhibit No.	Description

99	99	News release dated October 12, 2012 announcing special cash dividend and election of Jeffrey D. Kelly to the Board of Directors

- 4 -

EX-99 2 d424125dex99.htm EX-99 EX-99

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 ANNOUNCES SPECIAL CASH DIVIDEND AND

ELECTION OF JEFFREY D. KELLY TO BOARD OF DIRECTORS

MAYFIELD VILLAGE, OHIO – October 12, 2012 – The Progressive Corporation today announced that its Board of Directors has declared a special cash dividend of $1.00 per Common Share, payable November 29, 2012 to shareholders of record at the close of business on November 21, 2012.

Glenn M. Renwick, the Company’s President and Chief Executive Officer commented: “We are pleased to return approximately $600 million to our shareholders through this special dividend. This action is consistent with our published policy of returning capital to our shareholders when appropriate. The combination of strong operating and investment results allows us to pay a special dividend at this time.”

The Company further announced that the issuance of this special dividend would not affect the Company’s annual, variable dividend program for 2012. For more information on the Company’s variable dividend policy, visit the Company’s website at progressive.com/dividend.

In addition, the Company announced that the Board of Directors today elected Jeffrey D. Kelly, 59, to fill a vacancy on the Company’s Board for a term ending on the date of the Company’s Annual Meeting of Shareholders in 2013.

Mr. Kelly is the Executive Vice President and Chief Financial Officer of RenaissanceRe Holdings, Ltd., a global provider of property catastrophe and specialty reinsurance and other insurance coverages. Prior to joining RenaissanceRe, Mr. Kelly served as Chief Financial Officer of National City Corporation (“NCC”) from 2000 until his retirement from NCC in 2008, and as Vice Chairman of NCC from 2004 until his retirement. Mr. Kelly also served previously as a member of Progressive’s Board of Directors from 2000 until his resignation in August 2009.

About Progressive

Celebrating its 75^th anniversary in 2012, The Progressive Group of Insurance Companies makes it easy to understand, buy, and use auto insurance. Progressive offers choices so consumers can reach it whenever, wherever, and however it’s most convenient—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. It’s 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.

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