8-K

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) February 14, 2003

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)

Item 9. Regulation FD Disclosure.

On February 14, 2003, The Progressive Corporation (the “Company”) issued a News Release containing certain selected underwriting results of the Company for the month of January 2003 (the “News Release”). A copy of the News Release is attached hereto as Exhibit 99.

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 thereunto duly authorized.

Dated:	February 14, 2003
		THE PROGRESSIVE CORPORATION
		By: /s/ W. Thomas Forrester Name: W. Thomas Forrester Title: Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit No.
Under Reg.	Form 8-K
S-K Item	Exhibit
601	No.		Description
99		99	News Release dated February 14, 2003, containing certain selected underwriting results of The Progressive Corporation for the month of January 2003

EX-99 3 l98969aexv99.txt EX-99 PRESS RELEASE Exhibit 99 ---------- News Release dated February 14, 2003, containing certain selected underwriting results of The Progressive Corporation for the month of January 2003 PROGRESSIVE NEWS RELEASE - -------------------------------------------------------------------------------- The Progressive Corporation COMPANY CONTACT: 6300 Wilson Mills Road Thomas A. King Mayfield Village, Ohio 44143 (440) 395-2260 http://www.progressive.com - -------------------------------------------------------------------------------- FOR IMMEDIATE RELEASE MAYFIELD VILLAGE, OHIO - February 14, 2003 -- The Progressive Corporation today reported that for January 2003, the Company produced a GAAP combined ratio of 86.7. Net premiums written increased 32% to $992.5 million for the month, compared to $751.3 million last year. Net premiums earned for the month increased 32% to $967.4 million, compared to $735.6 million last year. Progressive's Personal Lines business units write insurance for private passenger automobiles and recreation vehicles. Progressive's Commercial Auto business unit writes primary liability, physical damage and other auto-related insurance for automobiles and trucks owned by small businesses. The Company's other businesses primarily include writing lenders' collateral protection and directors' and officers' liability insurance and providing insurance-related services, primarily processing business for Commercial Auto Insurance Procedures (CAIP), which are state supervised plans serving the involuntary market. See "Supplemental Information" for January's results. The Progressive group of insurance companies ranks fourth in the nation for auto insurance, offering its products by phone at 1-800-PROGRESSIVE, online at progressive.com and through more than 30,000 independent agencies. The Progressive Corporation, the holding company, is publicly traded at NYSE:PGR. The Progressive Corporation Supplemental Information January 2003 ($ in million)(unaudited)

Current Month --------------------------------------------------------------------------------------------- Personal Lines Commercial ------------------------------------- Auto Other Companywide Agent Direct Total Business Businesses Total ----- ------ ----- --------- ---------- ----- Net Premiums Written $604.3 $273.9 $878.2 $108.0 $6.3 $992.5 % Growth in NPW 31% 33% 31% 50% (44)% 32% Premiums Earned $596.1 $262.9 $859.0 $102.1 $6.3 $967.4 % Growth in Premiums Earned 28% 36% 30% 58% (43)% 32% Loss/LAE Ratio 68.4 66.3 67.8 61.3 75.9 67.1 Expense Ratio 19.4 19.6 19.4 19.5 43.8 19.6 Combined Ratio 87.8 85.9 87.2 80.8 119.7 86.7 Actuarial Adjustments(a) - $3.4 $.5 $3.9 $0 $0 $3.9 Favorable (Unfavorable)

January 31, January 31, Policies in Force 2003 2002 Change (in thousands) ---- ---- ------ Agent - Auto 3,449 2,807 23% Direct - Auto 1,576 1,248 26% Other Personal Lines(b) 1,652 1,391 19% ----- ----- Total Personal Lines 6,677 5,446 23% ----- ----- Commercial Auto Business 292 212 38% --- ---

(a)Represents adjustments solely based on the Company's corporate actuarial review. Prior accident years development will continue to be reported on a quarterly basis only. (b) Includes insurance for motorcycles, recreation vehicles, mobile homes, watercraft, snowmobiles, homeowners and similar items. 8-K 4 l98969ae8vkxpdfy.pdf COURTESY COPY begin 644 l98969ae8vkxpdfy.pdf M)5!$1BTQ+C(-)>+CS],-"C(V(#`@;V)J#3P\(`TO3&EN96%R:7IE9"`Q(`TO M3R`R."`-+T@@6R`V-S0@,C$U(%T@#2],(#(Q-3DX(`TO12`Q,C(W,2`-+TX@ M-"`-+U0@,C`Y-C`@#3X^(`UE;F1O8FH-("`@("`@("`@("`@("`@("`@("`@ M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("!XF4@,SD-+TEN9F\@,C4@,"!2(`TO4F]O="`R-R`P(%(@#2]0 M')E9@TP#24E14]`@("`@#3(W(#`@;V)J#3P\(`TO5'EP92`O0V%T M86QO9R`-+U!A9V5S(#$T(#`@4B`-+TI4(#(T(#`@4B`-/CX@#65N9&]B:@TS M-R`P(&]B:@T\/"`O4R`X,B`O1FEL=&5R("]&;&%T941E8V]D92`O3&5N9W1H M(#,X(#`@4B`^/B`-'0@ M72`-+T9O;G0@/#P@+T8R(#,Q(#`@4B`^/B`-+T5X=$=3=&%T92`\/"`O1U,Q M(#,T(#`@4B`^/B`-/CX@#65N9&]B:@TS,"`P(&]B:@T\/"`-+U1Y<&4@+T9O M;G1$97-C2]Z97)O+VHO32]Z+VXO;VYE+T$O3R]T=V\O;2]Q=6]T97)I9VAT+W@O M7`UT:')E92]O+TLO4B]P87)E;FQE9G0I#2]&;VYT1FEL93,@,S,@,"!2(`T^ M/B`-96YD;V)J#3,Q(#`@;V)J#3P\(`TO5'EP92`O1F]N="`-+U-U8G1Y<&4@ M+U1Y<&4Q(`TO1FER2`Q-"P@,C`P,RE=5$H*150*,"!' M"C`@2B`P(&H@,"XR-"!W(#$P($T@6UTP(&0*,S8V+CDS(#65R*51J"C`N M,S,S-"`M,2XQ,3DR(%1$"BA)9&5N=&EF:6-A=&EO;BE4:@HQ+C@P.3<@+3$N M,3$Y,B!41`HH3F\N7"DI5&H*,3(@,"`P(#$R(#,Y+C4W(#8U,RXQ,S`Q(%1M M"C(Q+C4W(%1C"ELH("`I,C`T,C`H("DQ,S,R,"@@*3$X,#@P*"`I751*"C$P M+C`W.2`P(#`@,3`N,#&5C=71I=F4@;V9F:6-E/?>^QC%[.PS'<3HL\H_A41&^*U/2U;I9 M<9IT5<;$\?N\%..GX/P[=CPGXKWM>9FS!PI!&6]VOO$@N$;\9[/YE^A,P7%7 M&'#KGR+=*,$(''>H;SUI#0B8[1<0,'^))C-;F[)EJU[^A\09\ME!"^;-G(CS MW\:@B1@4(%/RDC4:#,U6I5>G>0GERO2TN1Q$P@Z>9Q: MI]8:A-.W5.4I.KE*KM>JDM3I*NTVN299'IV2H=%G9ZKEB@BY*B/)7Z.5IPAY MNJP$74I2BDJ;HM;]._>MS+?;7\O&<&%A#G:8BQ/F;8=-<\+\1-@<$@O&L`\= ML>5B+`7#C!BF%'S#1!B!16"[,"OV(T[@/G@H7H9?LIML9[2SBCQ%!M$;^TWV M1PB2J"5>DVO)04I!?>8PP^$CAQ9'F:/%\973!T[=DV9.JIGTW%GI7.?BX]+G M8A,7B5^X!KM^-MEE\GJW66ZM;C]+$B3':"7=2[]Q-[B/,A',30\OCWR/AYYI MGG_SVN+5XLUY5\O%^YI6,,W:B^M'`7?9Q[$&] M-G5G?&)G06O5OO+R"JZ\LJ+<(JVJ*BXTY7P4I9*)=;8%1KS_J0CZ;0L8Y._O MC]Y#H2SBVI=<6,)UKQA07DVK/>2%%@-N!LT8"U4O[]^[QOV2!AN>BKJ1D@'_ M%R_@/0AE@4L=7#_(J:]$W8D]F9?C!8L1;D::Z2RJ\EVDB.'$\CV`+3!((*"' MCG^,IC)TX_\G2L?_FBJLOH[W0)FH!ZJ9:"B[3HGE^2#"[X!(!&[Y@NK&TX>[ M3FYO34_7:K>I.W(:9>*0*H,MW(@7P@41G!$41I(H^Y_AQ"U2G-MJD[3BS2_A MX$L15-@X!MPMJ#(BI!05(7?D7@J%W]RR0"6XRUKM4;0*&9$39GLSOT=,9&`:\DSDZDN(MGKK_1'IO<[5:_U# M-P1D"&(A9]D-/M8HJ3T#1?=I$Y\&.SZ6`E8"RHUH+HO$BA5+N569?UDF331G%&PYKWL`@6#W&KR? MYQ^/ORB+&9QU.+C.09S;QMN?@Z)#>,

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EX-99

                                   Exhibit 99
                                   ----------

                      News Release dated February 14, 2003,
                containing certain selected underwriting results
                         of The Progressive Corporation
                          for the month of January 2003









PROGRESSIVE                                                                NEWS
                                                                        RELEASE



- --------------------------------------------------------------------------------

The Progressive Corporation                                     COMPANY CONTACT:
6300 Wilson Mills Road                                            Thomas A. King
Mayfield Village, Ohio  44143                                     (440) 395-2260
http://www.progressive.com
- --------------------------------------------------------------------------------

                              FOR IMMEDIATE RELEASE

MAYFIELD VILLAGE, OHIO - February 14, 2003 -- The Progressive Corporation today
reported that for January 2003, the Company produced a GAAP combined ratio of
86.7. Net premiums written increased 32% to $992.5 million for the month,
compared to $751.3 million last year. Net premiums earned for the month
increased 32% to $967.4 million, compared to $735.6 million last year.

        Progressive's Personal Lines business units write insurance for private
passenger automobiles and recreation vehicles. Progressive's Commercial Auto
business unit writes primary liability, physical damage and other auto-related
insurance for automobiles and trucks owned by small businesses. The Company's
other businesses primarily include writing lenders' collateral protection and
directors' and officers' liability insurance and providing insurance-related
services, primarily processing business for Commercial Auto Insurance Procedures
(CAIP), which are state supervised plans serving the involuntary market. See
"Supplemental Information" for January's results.

        The Progressive group of insurance companies ranks fourth in the nation
for auto insurance, offering its products by phone at 1-800-PROGRESSIVE, online
at progressive.com and through more than 30,000 independent agencies. The
Progressive Corporation, the holding company, is publicly traded at NYSE:PGR.






                           The Progressive Corporation
                            Supplemental Information
                                  January 2003
                            ($ in million)(unaudited)


                                                                             Current Month
                                      ---------------------------------------------------------------------------------------------
                                                 Personal Lines                   Commercial
                                      -------------------------------------          Auto            Other          Companywide
                                        Agent        Direct       Total            Business        Businesses          Total
                                        -----        ------       -----            ---------       ----------          -----
                                                                                                    
Net Premiums Written                   $604.3        $273.9      $878.2            $108.0             $6.3            $992.5
% Growth in NPW                            31%           33%         31%               50%            (44)%               32%
Premiums Earned                        $596.1        $262.9      $859.0            $102.1             $6.3            $967.4
% Growth in Premiums Earned                28%           36%         30%               58%            (43)%               32%

Loss/LAE Ratio                           68.4          66.3        67.8              61.3             75.9              67.1
Expense Ratio                            19.4          19.6        19.4              19.5             43.8              19.6
Combined Ratio                           87.8          85.9        87.2              80.8            119.7              86.7

Actuarial Adjustments(a) -               $3.4           $.5        $3.9                $0               $0              $3.9
     Favorable (Unfavorable)




                                                   January 31,   January 31,
Policies in Force                                         2003          2002               Change
  (in thousands)                                          ----          ----               ------
                                                                                     
             Agent - Auto                                3,449         2,807                  23%
             Direct - Auto                               1,576         1,248                  26%
             Other Personal Lines(b)                     1,652         1,391                  19%
                                                         -----         -----
      Total Personal Lines                               6,677         5,446                  23%
                                                         -----         -----
      Commercial Auto Business                             292           212                  38%
                                                           ---           ---






(a)Represents adjustments solely based on the Company's corporate actuarial
review. Prior accident years development will continue to be reported on a
quarterly basis only.

(b) Includes insurance for motorcycles, recreation vehicles, mobile homes,
watercraft, snowmobiles, homeowners and similar items.