Progressive 2005 Annual Report Download - page 27

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BASIS OF PRESENTATION The accompanying consolidated financial statements
include the accounts of The Progressive Corporation, its subsidiaries and affiliate (the
Company). These financial statements should be read in conjunction with the complete
Consolidated Financial Statements, including complete Notes to the Consolidated
Financial Statements, as well as Management’s Discussion and Analysis of Financial
Condition and Results of Operations and Supplemental Information, which are included
in the Company’s 2005 Annual Report to Shareholders, which is attached as an Appendix
to The Progressive Corporation’s 2006 Proxy Statement.
{Consolidated Financial Statements}
.29
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