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) June 13, 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 June 13, 2003, The Progressive Corporation (the “Company”) issued a News Release containing certain selected underwriting results of the Company for the month of May 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: June 13, 2003

THE PROGRESSIVE CORPORATION

By /s/ W. Thomas Forrester
Name: W. Thomas Forrester
Title: Vice President and Chief
Financial Officer

3

EXHIBIT INDEX

Exhibit No.
Under Reg.	Form 8-K
S-K Item	Exhibit
601	No.		Description
99		99	News Release dated June 13, 2003, containing certain selected underwriting results of The Progressive Corporation for the month of May 2003

4 EX-99 3 l01418aexv99.txt EX-99 NEWS RELEASE Exhibit 99 ---------- News Release dated June 13, 2003, containing certain selected underwriting results of The Progressive Corporation for the month of May 2003 [PROGRESSIVE LOGO] 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 - June 13, 2003 -- The Progressive Corporation today reported that for May 2003, the Company produced a GAAP combined ratio of 88.3. Net premiums written increased 29% to $910.9 million for the month, compared to $706.0 million last year. Net premiums earned for the month increased 30% to $853.9 million, compared to $659.3 million last year. Progressive's Personal Lines business units write insurance for private passenger automobiles and recreation vehicles. Progressive's Commercial Auto business unit writes primary liability, physical damage and other auto-related insurance for automobiles and trucks owned by small businesses. The Company's other businesses primarily include writing lenders' collateral protection and directors' and officers' liability insurance. See "Supplemental Information" for May's results. The Progressive group of insurance companies ranks third in the nation for auto insurance, offering its products by phone at 1-800-PROGRESSIVE, online at progressive.com and through more than 30,000 independent agencies. The Progressive Corporation, the holding company, is publicly traded at NYSE:PGR. The Progressive Corporation Supplemental Information May 2003 ($ in millions)(unaudited)

Current Month --------------------------------------------------------------------------------------------- Personal Lines Commercial ------------------------------------- Auto Other Companywide Agent Direct Total Business Businesses (c) Total ----- ------ ----- ---------- -------------- ----------- Net Premiums Written $556.0 $240.9 $796.9 $108.0 $6.0 $910.9 % Growth in NPW 27% 33% 28% 38% (18)% 29% Premiums Earned $524.2 $232.9 $757.1 $90.7 $6.1 $853.9 % Growth in Premiums Earned 27% 33% 29% 40% (22)% 30% Loss/LAE Ratio 70.3 67.6 69.4 62.1 41.7 68.5 Expense Ratio 19.4 20.6 19.8 17.7 57.3 19.8 Combined Ratio 89.7 88.2 89.2 79.8 99.0 88.3 Actuarial Adjustments(a) - $ (2.7) $(.2) $(2.9) $(4.3) $-- $(7.2) Favorable (Unfavorable)

Year-to-Date ---------------------------------------------------------------------------------------------- Personal Lines Commercial ------------------------------------- Auto Other Companywide Agent Direct Total Business Businesses Total ----- ------ ----- ---------- ---------- ----------- Net Premiums Written $3,026.5 $1,352.5 $4,379.0 $570.0 $ 32.2 $4,981.2 % Growth in NPW 29% 34% 30% 38% (32)% 30% Premiums Earned $2,769.2 $1,224.5 $3,993.7 $473.1 $ 31.1 $4,497.9 % Growth in Premiums Earned 28% 36% 31% 48% (36)% 31% Loss/LAE Ratio 68.5 67.8 68.3 62.4 61.6 67.6 Expense Ratio 19.4 20.1 19.6 19.2 45.1 19.8 Combined Ratio 87.9 87.9 87.9 81.6 106.7 87.4 Actuarial Adjustments(a) - $ (9.9) $ (3.9) $ (13.8) $(10.5) $ (.6) $ (24.9) Favorable (Unfavorable)

May May 2003 2002 Change ---- ---- ------ Policies in Force (in thousands) Agent - Auto 3,749 3,037 23% Direct - Auto 1,708 1,356 26% Other Personal Lines(b) 1,831 1,523 20% ----- ----- Total Personal Lines 7,288 5,916 23% ----- ----- Commercial Auto Business 326 251 30% ----- -----

(a) Represents adjustments solely based on the Company's corporate actuarial review. (b) Includes insurance for motorcycles, recreation vehicles, mobile homes, watercraft, snowmobiles, homeowners and similar items. (c) In May 2003, the Company expensed $1.8 million of deferred acquisition costs to eliminate the premium deficiency (i.e. expected costs in excess of unearned premium balance) related to a portion of its other businesses. 8-K 4 l01418ae8vkxpdfy.pdf (COURTESY COPY) THE PROGRESSIVE CORPORATION begin 644 l01418ae8vkxpdfy.pdf M)5!$1BTQ+C(-)>+CS],-"C(R(#`@;V)J#3P\(`TO3&EN96%R:7IE9"`Q(`TO M3R`R-"`-+T@@6R`V-S0@,3F4@,S4-+TEN9F\@,C$@,"!2(`TO4F]O="`R,R`P(%(@#2]0 M')E9@TP#24E14]`@("`@#3(S(#`@;V)J#3P\(`TO5'EP92`O0V%T M86QO9R`-+U!A9V5S(#$P(#`@4B`-+TI4(#(P(#`@4B`-/CX@#65N9&]B:@TS M,R`P(&]B:@T\/"`O4R`U,B`O1FEL=&5R("]&;&%T941E8V]D92`O3&5N9W1H M(#,T(#`@4B`^/B`-R\#'@``@-E"4 M@2.!82\+2T%C`XR"`@$@YH1B!H9T!E[&%0Q,KU0U>Q,W,"LZ"DDP,``$&`"3 M9`K*#65N9'-T'1'4W1A=&4@ M/#P@+T=3,2`S,"`P(%(@/CX@#3X^(`UE;F1O8FH-,C8@,"!O8FH-/#P@#2]4 M>7!E("]&;VYT1&5S8W)I<'1O2]Z97)O+VHO32]Z+VXO M;VYE+T$O3R]T=V\O;2]Q=6]T97)I9VA<#70O>"]T:')E92]++W!A7!E M("]4>7!E,2`-+T9I&-H86YG92DM,C4V+C@H06-T*2TR-C(N."AO*2TP+C@H9BDM,C0W+C@H,3DS M-"E=5$H*.2XX,SDV(#`@,"`Y+C@S.38@,3@Q+C8W,S(@-S(T+C@Q,3$@5&T* M,"XP,3(U(%1C"ELH1&$I,3&$I,38N-2AC*2TW+CDH="DM,C0W+C$H;BDR,RXW*&$I+364I,3@N-RAR*5U42@HP+C,T,34@+3$N,3(R M(%1$"C`N,#$W."!48PI;*$DI,S,N-RAD*34N-BAE;BDU+C8H="DR-RXU*&DI M,RXQ*&8I.2XS*&DI,CJ=U&M[*IVM165]WJ>O7NN>><=^][.&9OA^$XSBQ7A2G# M5#XK$U,T^AG1VA1UZNCRAX(,$\;APG@[@2<$;WM![N*)0E#JS]D_>Y)\`_XO ML_E]=*'AF!OTN_>-DZV28B2..]2UG+#Z^\_T]?>?&Z9-R]0E;MEJ4/PQ;JIB M9N"\.=-'X]QW,7`T!OHKE/':S1K%BDR]09.B5RQ)C=/JTK0ZM4$3[ZM0*).3 M%=&C"'I%M$:OT66(J^^H*A+U"K7"H%/':U+4NFT*;8(B(C%5:\A,TRB4BQ3J MU'@_K4Z1*.;ITS?K$^,3U;I$C?X_N>]DOOO]K6P,QQSL,%K"?<`*?A"_`]^!_L9/8I=OU$"QA M(`3[&/N#I#U91;ZA5E.WZ(_H\PX?.&QP:'0<[VAV?.4TWZG#>9KS?N>G+F$N M-:Z37*VN("F0_.`6Z'9^C/.8M>X^[DWNOTACI4>8,*:;$3P,'D.LBNWW]/3< MZ7EO;-+8OWMIO!J]QWGO4TCT@@J*$0:8]#[(X[N92*;AK:!B7;#C50^OW^8> M11TPZ)*R8^,Z\ELJ]Y:5E?-E%>5E%EEE95&!*>M/2]1RB=XVSXCW/2&@SS:/ M17Y^?F@:"N40WQ9V/HSO6G%==3FYYJ`76@"X&;3#'%2^O'?W"O\^#6*>$%U( MQ8+?\^$E`N8UGP<."*A:%E*!"Y($\2J#@VQL6J``/>8L]BE`C(W)"KE9D@`B( ML((!7,%)#484(9>8ZVQ313,211.=/.%8'15JK.Z3"Z_H71:TV)_,H8]>,IMK M9.WF[1GRD76T,J$DJH27F`>$QKLX##TA!"V,9W?N)2/B37L29&@7!2$03IXY M]WCH+0?V,V_XSYH1@WQ2^(8B\N+1XP-#,G!J]EL;&CMSMJ\<+4119*[`T9*< M#F'H2RG$I]6,Y\=_WTGT]?Y'K3?D3LXH!D-#:.KRLF6^NL]X9D=SM6 MK_4+C?%/%<5"UK*K0I116M,#A?<8DY`,6>QD(6H3A;X:B2*703O-?(J"!VG& M!,'#-%I\E46%%!3`"](BFMXI?'$?!^$6`4N$!RRLI:KWF_>7R[N>%522V7D% M>=ME2$,A'.63A7O*=W\B`ZP85!O0;`Y)E"N6\JO2_K9,%F=.S=]R3G\?`L#N M+7@_RSL6>T$>>6?&H>!:!TE.JV!_%@H/XNTOH.('0HBVA;*H:!=:@):B31Q* M&)X.3K"P`V9]#=S\@0DK,G*35O+U('D-,EC8ZH`VHV[V[?$/)B%RXYJ(T,5W M(>3+JJ:J*GE3<\>^=ID(;Y.T2B\-J.Z"]N;*`>8%;(5K+/,,Z$!KBI)3;5!' M!&V\-L@S+X;ZND^V\,@?!;'SKP?"&%[<%-0&]A>^RKB,N)=R9O#BL0?6Y]S` M\NN(G#-EU92@GL3'2C$Q8-'FY-D<,_A`F,SVG?S\F\%3JU;.6I&@T?%;&@.^ MN,=)ZC-@UVG!OA4__AP*7Q%7TEFH/`A3(!JV@6>1`W"? M?7ZX\PQO*=FM6REV<5&<-UP!&YNY)W=G/K\C0YV9))N0#HX##QM?/`9O,UH3 M*8Z-.%=0!H3T6R#&,K$P#G[ZO?%B&A"R_[VQ$W!S/:SK%>88\3K;(L*VNI[= M5)Y3O>UK9!&N>1DI%#^2:]J4_+%!YYUIVE&25>I@@O7U=,8&L[6ZO';O`?E9 M<"2ACNKU(3_).9"4Q24DE2;P)MA'C^P4AQ]H:`4'U$I*H-]<;^H$:P_4=)KJ MI4`.0]%P$-#,J4.VL>S#XMI<)3<228?G[IA;(N8_I9EVT!T!ONN?P7VS#\LM MXL9/J[\_"@0'?BBL=C:/VBA8CYZQ+T\6Y;?+F?0+6>>3`CG$(=>")5&9%9V\ M4&M?9ZD]PE?5EC7(F-.WWYB0\^A7HI5/+QTEE'-&^$%(S<9DB+GIV); M33ISM;M+WFN]?.0S&;C="9[8_-Y74Z?PW:C6-\,"!3B3?-`3.BFX2HOMXV\N;PJ: MRZ$SJ-2\+":WLIV70*58H@NLO;"_2ZSR>A@.-;8U,4;A1YC/:JDIF]:E('<9 MFFHNZY5#&0V^)8]*ZW)J@KT;(=M`A>?EZT6-OJ"CVFO,#3S(*"!:L@+JY,W4 M'O@#.=)*,1TFNK^H:7?(**\%AH)E(B^C2>BD)1`C=LU?_UMX7Z.UB7DMZ,4; M1L2F0_,SC8$R-%G$/EY9T#B\WUGS#@9:& M?[-=I5%17%EXVK;J,9,9XMC3`E4YU8RH
&S0*X8")$A<0E&E!#HJ(.B@JB M0M/LF[0T3;,*TMU0-#LT^Z(H`4%PB\0%(L&%:-29.#%F,AV)MSJO,Y-7XN3, M.3.G?W6=>O?[[KO?_>ZMF9HO,BJ2"]V=R%W&M\.E$FAJGUH/M.#\>&>53+!N MAJ=RG!]-7U679G@P^$VT:T7$2ORJ"U#@"[G@>ND1)QL'Y][9WM6*K4O1\WS&+Q;CP-+R8%=JA;U_>^PFL8I*'_8&4"3`*G6J!`8N4GP9FGEZ:D\Q?9F`[#."-Z*TCD>XB?S./)IX+Z]#P ML:+17(['9A4:2=.3VN(`/``!__NKW.8Z'+$?B?NN&ATQ9%W*<>&Q`]D+M M_93E+%0CD-OZW/OI0G`I#Y_J]F22-1JA?04O@Y7DX$.0L<(`1BL#MQ0P_R M<\=V.`:'P"SL`+Z*YLE8.O.O$`XJD(Y9+"!=A%4X?.9"+%5,]%I9._2(5O*] M!6*)E3R6C1E)D:X?+DST$0OAK8UP3YM(V$L78[C.@!_25/`9%>SX8$G'"46Q ML;/C)B-[##(\I0]S'"ZF88V/O*$PLZX39FFP"YZ+&6VP,BI3I^*>635T-$.3 MB$C8)(B(5E=>OEUWJ"2R&F^'7,?3!3"M`A@&YF%/TT(.U]*R,14:.FQ(>:YH MY2+QMNIXM#@[F;_"P&8TH(,4?)&"-VC98UN@<$]>>S2OKP,"F<<\@ MT('D]JP=DN%[$/]/J;"!+()*.DFCCMA_T+]Q+;M@_@9,SQ[<^C!``:YO&$/6 M,_X[UB_&[":8UJ7B(N@ZO)LJHXT%Q2:NKCMDE`67J]]^I8`@?+\4W)A/3YM[ MQ@<7>!9SE?0S]Q2^.RXI-4&(!4),?_(0-O%R]ZQ$_BHCY)]!,*DF&D\R*2KH M-/"B;!?I-.Q%51`?+ZOF81)[QI9.OYT>,5^4V4DD5KU3L/*2)Q;XN5-J]1BAXY4Q#@SN!PM2MZ3$,E]%+9^[U(6+]>"8E`!UT4ON"5Z`?'94;4^B7C$ M9V@MF>MDH!_3PKK;'.C1>+'A1KXHJP)1M1*C=:G4NEH,'Z2B6S5-Z=L994R0 M)HW#KC8IG@-?4Q&GHSL,3#VO&Q`=@U>A+DU)8L=\R+"=JUW^2 M17SU[D3,G)]>D_[D(<8DK=:8WG1D)Z-,#4U5HJ,GLS"5*_"IU3FS06[$:&Z>N. M>`'V7^*6E/#!$2<5Q/-HIRXXJY[AS6VF*@Y>@-F/L#-EC&CRCV;VA6LWIY/: M]?!H8TZ4?F<__@"J'4F;^@W=K\KJRW82!=(JW&F5'!6^D@K#X"-?'JGRPPXL M+J`%'^%'RF`K1U%X&55%7RDZ=AE<6#A`VWQM/U)QPD540;X+[.\GGP6U$I94 M3&UYL.(.S!XC\Z@=7I2'IB?NB^/4*?L2(MG@,',766X:"P=@3@]'5ILM\I2D MA&0E&Z:MK57`1G1!^SU^F9,]QG8?^>R(/;;?7,67F11'U08#8VXM::CK2O+F MUB#9.'9_]_405V95;_"9_K[VAA;..^=X1@EK-&=V'U?8)]<++UP"#T-GU-1K M=R'J@6R,?'A\(3^;/5A2SW[=/&.>;RRY7W30IZA)X1XK#QX/[X'5YV'AWYZN M!X3_L"S@_8@T3@/]M%I'R6R!,1_&!R;8Q:+,W`)M+MNI588J2+:?"U2MI/*& M5)@.\^6;0H*W>;/N*T;)"NCZT-S2EQ,=FJ_(C%3O]MCGYT`^@RAW:LU"K^KF2!>?0^B[LJ:X.\6^:[4 MG8>"6%_O`7@97KK:/=#5O7=EGD(6!G-PM7R56EO:P0B#2.1Z6N2Z^1G7_%^Y MXOFH=D^H?AN+)\_%"#O@;>`2U3;2TE)-%LTU='8Z)0OKXT\9/RFV(VE=@[!Z M0,V2RFM282YXR(,CMJU.67,EMCXM\:P$ M;%*J=ZEQTDHXD&:7V3\GH0:<&`MR`]2D-V\S@]+`!IDV38LM"D'T.@R\J'6R M%BY[)/KBT9H0\4^LUI6<\!V;M@/K/`ATUF19BBQ9'LL"B]MM\5#M7<8D!K%@ MO5RS54\3,9?X?^/-2^:1C`2\W@%_C:^TD)7@:;H.?3#,3[=-S+F^/^<:1F:) MUYIVI-(%R@O9E$S*5N\])CL.Q6,/X7R&SP1::W)MK]5EA6E9S(,=<8KU.0CL8]@YCMO_5G)3"H`+P M)X4A58,MRCA081'L<9@#7BR:P;7Z'U]2E<1,`S4. M=B93GL%F-$3)@<79\N3N6^9XL<2MG!1]&8+Q(>+HE_?$26Q#1AB\D`/)UOKV M(1(.@]&#^[L#U/G.@D0&Y8.-%=J]88L\3`!;(W>ALN:@[.U/H53^ODX?^3`/>BY-P\:^&PQ(M>B2+0(4?=>@F+XVA7(?`^7 MOWX'+6$Z9A/%:&$UW'+MQ\G3']T_A0R]NSD]AHE%I)]P^R$=QJ@NBZ1"L MN4W,3*,EXFR=-$%+RZ&V$_Q!T8J5P&H@&?(W':(@3H;+J&KQ>2B#ECEN0PQ$]*+#S:?]8]0,-J.UE2C3:ME MQ3LSQGUA[`ZXXR+_O%]7*^J]#14AK/YF^?5B;UZU.X5"SZ]`/T,T6CD=?_?B ME<.!#L:.$H6I]=6_U^/`FCP@JZ7.=H+$KP\SR*;6"S:A6V*CQ*1(ED6IZ^0& MEHK+>W"?P3Z?G9B:>6".+PNO+QS\X;N$-M5'HNLAXN+UD/@]A7ZG$A=`S8$4 M2Y'M,Y)PPQHP>.1D+TU<[&TI/$#U>KKZAFI[BO*+:N,S&,/=N?DRD%:;6I>F MP'>UN%K_Q_[H0:77+N6W^E2UHE.7$MVPZ$JZF]@'/X6?B(D6'?REH$E(!'1Z MK5HE+^G>0[V:G?#>6Y-[+Q4R1/^Y8L%@77>5A-R1H2A:(;MSII%6"(E\M,H- MB'Y7L\W:1IG]X[*CU,[<2]^V7NYNMR<^+JJFIT322>HO>8J3/H`GA*V/E MIXX='QKOI1M:!0U-=342*L5T?C\#@P]!M/)`;(>&W*$X.KAALTER2.(H:0;%:J?HS75->6E]*):@NX07U!GJY'@0,@X9M M)+*#95]4C76>L`6#]/BXX$U@,0@(V?&.@YX)3U2T0\KOXB*[^*QY?$5XWC"L ML,_H5563!?%H5=%*>CET"?1.#==&]GFMO1::0RDLZ#9V:[C2D?AO$=N[-2J[ MW:)S40Z7K[^5@8OAM=[SCO;AL(*,=$CA&2G1`GW7(COWO8<&8ME4]B@2K4'I,)ER<2?X$0> M_GUBE"\+IYQBA8/F=J6,5#5(E.7T>E2)`&P6Z!WJ=C?9?\#L,V.8G'K@-NS3 MME5"(3+&>$I.O,&2BEQ$)]-$>4-)9SF5:HK&H?HW# M<]1MB8V^8PKP9"!RLGT>OP92XCJ;8+U"4[*,0K00>OD5`@[]`/3H&4&G<,)A M&YZB("U$7;,KL%Q]%D3?X=^&$2@"ZDRUHO%@'F2^#A_$&+$9OH%WL(41ICEPPRQ"59U_03[.60= M1HX0!2"3%_PZ?!`[B9Z_\&]C-X&6FY>ODK>VNZLKB]GLW!'E/H?=;+;29IO5 M;*$<#JU*ILA*>)\A]%`C^PGVT?6>QZ]ZD+0%5IF$D'/.LF90[^%WM\`L3Q3Z MP,Q7.>%SIOG^9T(+>/UB^%C\'XU98BH*96YD'EZ>WQ]?G^`@8*#A(6&AXB) MBHN,C8Z/D)&2DY25EI>8F9J;G)V>GZ"AHJ.DI::GJ*FJJZRMKJ^PL;*SM+6V MM[BYNKN\O;Z_P,'"P\3%QL?(R+C MY.7FY^CIZNOL[>[O\/'R\_3U]O?X^?K[_/W^_P(,`*WV?X$*96YD7!E(#`@+T1O;6%I;B!; M(#`@,2!=("]286YG92!;("TQ(#$@72`O0FETF4@6R`R-38@72`O3&5N9W1H(#4R-R`O1FEL=&5R("]&;&%T941E8V]D92`^ M/B`-("(B(B0F)B8H*BHJ+"XN+C`R,C(T-C8V.#HZ.CP^/CY`0D)"1$9&1 MDA*2DI,3DY.4%)24E165E986EI:7%Y>7F!B8F)D9F9F:&IJ:FQN;FYPGI\?GY^@(*"@H2&AH:(BHJ*C(Z.CI"2DI*4EI:6F)J:FIR>GIZ@H MJ*BI*:FIJBJJJJLKJZNL+*RLK2VMK:XNKJZO+Z^OL#"PL+$QL;&R,K*RLS.S ML[0TM+2U-;6UMC:VMKX.+BXN3FYN;HZNKJ[.[N[O#R\O+T]O;V^/KZ^ MOS^_O\!`P,#!0<'!PD+"PL-#P\/$1,3$Q47%Q<9&QL;'1\?'R$C(R,E)RWM[?7]_?X&#@ MX.%AX>'B8N+BXV/CX^1DY.3E9>7EYF;FYN=GY^?H:.CHZ6GIZ>IJZNKK:^OK M[&SL[.UM[>WN;N[N[V_O[_!P\/#QOKZ^WO[^_Q\_/S]??W]_G[^_O]___\"#`#GK#\0"F5N M9'-T"!;(#`@,"`V,3(@,3`P."!=(`TO0W)O<$)O>"!;(#`@,"`V M,3(@,3`P."!=(`TO4F]T871E(#`@#3X^(`UE;F1O8FH-,B`P(&]B:@T\/"`- M+U!R;V-3970@6R`O4$1&("]497AT(%T@#2]&;VYT(#P\("]&,B`R-R`P(%(@ M/CX@#2]%>'1'4W1A=&4@/#P@+T=3,2`S,"`P(%(@/CX@#3X^(`UE;F1O8FH- M,R`P(&]B:@T\/"`O3&5N9W1H(#$V.#`@/CX@#7-T2DM,C0S+C"DP+C(H:"DR-"XV*&DI+3(N,RAB:2DR,BXQ*'0I+3(T-BXR*#DY+BE= M5$H*150*96YD'0@72`-+T9O;G0@/#P@+T8R M(#(W(#`@4B`^/B`-+T5X=$=3=&%T92`\/"`O1U,Q(#,P(#`@4B`^/B`-/CX@ M#65N9&]B:@TV(#`@;V)J#3P\("],96YG=&@@,C$R-R`^/B`-2DM,C0T+C0H82DM-RXW*'5T*3(Q M+C0H:&]R:2DR,2XT*'HI+32DM,C8Q+C$H M+RDR.2XQ*',I,3@N,B@O*2TR,SDN,BA7*2TQ,BXR*"XI+3(T,BXX*%0I,C`N M-BAH*3&@I+3,T+C7!E("]* M;V)4:6-K971#;VYT96YT -----END PRIVACY-ENHANCED MESSAGE-----

EX-99

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



                       News Release dated June 13, 2003,
                containing certain selected underwriting results
                         of The Progressive Corporation
                           for the month of May 2003





[PROGRESSIVE LOGO]
                                                                            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 - June 13, 2003 -- The Progressive Corporation today
reported that for May 2003, the Company produced a GAAP combined ratio of 88.3.
Net premiums written increased 29% to $910.9 million for the month, compared to
$706.0 million last year. Net premiums earned for the month increased 30% to
$853.9 million, compared to $659.3 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. See "Supplemental Information" for
May's results.

        The Progressive group of insurance companies ranks third 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
                                    May 2003
                           ($ in millions)(unaudited)




                                                                              Current Month
                                      ---------------------------------------------------------------------------------------------
                                                 Personal Lines                   Commercial
                                      -------------------------------------          Auto              Other            Companywide
                                        Agent       Direct       Total             Business       Businesses (c)           Total
                                        -----       ------       -----            ----------      --------------        -----------

                                                                                                         
Net Premiums Written                   $556.0      $240.9        $796.9            $108.0              $6.0                $910.9
% Growth in NPW                           27%         33%           28%               38%             (18)%                   29%
Premiums Earned                        $524.2      $232.9        $757.1             $90.7              $6.1                $853.9
% Growth in Premiums Earned               27%         33%           29%               40%             (22)%                   30%


Loss/LAE Ratio                           70.3        67.6          69.4              62.1              41.7                  68.5
Expense Ratio                            19.4        20.6          19.8              17.7              57.3                  19.8
Combined Ratio                           89.7        88.2          89.2              79.8              99.0                  88.3

Actuarial Adjustments(a) -             $ (2.7)       $(.2)        $(2.9)            $(4.3)              $--                 $(7.2)
     Favorable (Unfavorable)





                                                                               Year-to-Date
                                      ----------------------------------------------------------------------------------------------
                                                  Personal Lines                    Commercial
                                      -------------------------------------            Auto            Other            Companywide
                                        Agent        Direct        Total             Business        Businesses            Total
                                        -----        ------        -----            ----------       ----------         -----------

                                                                                                        
Net Premiums Written                   $3,026.5    $1,352.5      $4,379.0           $570.0           $  32.2              $4,981.2
% Growth in NPW                             29%         34%           30%              38%             (32)%                   30%
Premiums Earned                        $2,769.2    $1,224.5      $3,993.7           $473.1           $  31.1              $4,497.9
% Growth in Premiums Earned                 28%         36%           31%              48%             (36)%                   31%


Loss/LAE Ratio                             68.5        67.8          68.3             62.4              61.6                  67.6
Expense Ratio                              19.4        20.1          19.6             19.2              45.1                  19.8
Combined Ratio                             87.9        87.9          87.9             81.6             106.7                  87.4

Actuarial Adjustments(a) -             $   (9.9)   $   (3.9)     $  (13.8)          $(10.5)           $  (.6)             $  (24.9)
     Favorable (Unfavorable)




                                                            May               May
                                                            2003              2002        Change
                                                            ----              ----        ------
                                                                                  
Policies in Force
     (in thousands)
             Agent - Auto                                   3,749             3,037        23%
             Direct - Auto                                  1,708             1,356        26%
             Other Personal Lines(b)                        1,831             1,523        20%
                                                            -----             -----
      Total Personal Lines                                  7,288             5,916        23%
                                                            -----             -----
      Commercial Auto Business                                326               251        30%
                                                            -----             -----



(a) Represents adjustments solely based on the Company's corporate actuarial
review.

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

(c) In May 2003, the Company expensed $1.8 million of deferred acquisition costs
to eliminate the premium deficiency (i.e. expected costs in excess of unearned
premium balance) related to a portion of its other businesses.