Progressive Corp PGR
Q4 2012 Earnings Call Transcript

Transcript Call Date 02/28/2013

Operator: 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 its Annual Report on Form 10-K, Annual Report to Shareholders and Letter to Shareholders which have been posted to the Company's website and we'll use this conference call to respond to questions. Acting as moderator for the call will be Matt Downing.

At this time, I will turn the call over to Mr. Downing.

Matt Downing - IR: Thank you, Wendy. Good morning. Welcome to Progressive's Conference Call. Participating on today's call are Glenn Renwick, our CEO; and Brian Domeck, our CFO. Also on the line with us this morning is Bill Cody, our Chief Investment Officer. In addition, I'd like to introduce Gary Traicoff, our Chief Actuary. Gary assumed this position earlier this year when Allan Neis, our previous Chief Actuary retired. Gary will also be on the conference call today. The call is scheduled to last about an hour.

As always, our discussions on this call may include forward-looking statements. These forward-looking statements are based on management's current expectations and are subject to many risks and uncertainties that could cause actual events and results to differ materially from those discussed during this call. Additional information concerning those risks and uncertainties is available in our 2012 Annual Report on Form 10-K where you will find discussions of the risk factors affecting our businesses, Safe Harbor statements relating to forward-looking statements, and other discussions of the risks, uncertainties, and other challenges we face. Our documents can be found via the Investors page of our website

Wendy, we are now ready to take our first question.

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