Progressive 2006 Annual Report Download - page 15

Forward-looking statements and earnings guidance are not some-
thing anyone would associate with Progressive and we think for good
reason. However, this letter to all shareholders serves as a good forum
to tell our story as we see it— the results, the opportunities and, most
importantly, the organization’s sense of optimism for the future.
We are continuously motivated by our aspiration of becoming
Consumers’ #1 Choice for Auto Insurance throughout their insurable
lives. While our growth in 2006 did not match our aspirations, the
positive introspection that has resulted at all levels is exactly the
attitude that is expected. Our Core Value of Excellence— continuously
doing better than we have done before— is both demanding and a
challenge that Progressive people love to embrace.
We tend to celebrate our successes quickly and then move on to
our opportunities. As summarized in this report, we have several
opportunity areas with tremendous upside potential. We enter 2007
with some exciting changes, an emphasis on capitalizing on claims
strategies that have been developed over the past several years, a
renewed focus on marketing and brand development, and an
increased commitment to achieve meaningful progress toward the
cultural shift necessary to make longer tenure for our customers
possible and desirable.
Everything we have achieved is a result of the efforts of the nearly
28,000 Progressive people whom we sincerely thank for our busi-
ness results and for continuing to make Progressive an environment
where people enjoy working hard and are motivated to do their best
work as well as an environment others want to join.
Equally important is our appreciation for the customers we are
privileged to serve, the agents and brokers who choose to represent
us and shareholders who support what we are doing.
Glenn M. Renwick
President and Chief Executive Officer
LOOKING FORWARD
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