GlobeNewswire Inc | Apr 15, 2021 08:15AM EDT

April 15, 2021

MAYFIELD VILLAGE, OHIO, April 15, 2021 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for March and the first quarter of 2021:

March Quarter 2021 2020 Change 2021 2020 Change(millions, except pershare amounts and ratios; unaudited)Net premiums written $3,772.5 $2,860.8 32 % $11,729.1 $9,871.3 19 %Net premiums earned $3,269.9 $2,936.5 11 % $10,420.2 $9,430.7 10 %Net income $567.9 $318.6 78 % $1,480.0 $692.7 114 %Per share available to $0.96 $0.54 79 % $2.51 $1.17 115 %common shareholdersTotal pretax net realizedgains (losses) on $348.7 $(329.1) (206) % $585.3 $(553.6) (206) %securitiesCombined ratio 90.7 77.1 13.6 89.3 86.9 2.4 pts. pts.Average diluted 586.6 587.0 0 % 586.9 586.9 0 %equivalent common shares

Note: Year-over-year changes reflect the impact on net premiums written, profitability, and the equity markets from the social distancing and shelter-in-place restrictions that were put in place in March 2020 in response to COVID-19.

March(thousands; unaudited) 2021 2020 Change

Policies in Force Personal Lines Agency ? auto 7,863.5 7,164.6 10 % Direct ? auto 9,338.8 8,126.3 15 % Total personal auto 17,202.3 15,290.9 13 % Total special lines 5,026.7 4,574.5 10 % Total Personal Lines 22,229.0 19,865.4 12 % Total Commercial Lines 858.9 759.7 13 % Property business 2,566.3 2,264.1 13 % Companywide Total 25,654.2 22,889.2 12 %

See Progressives complete monthly earnings release, including the Monthly Commentary, for additional information.

About Progressive

TheProgressive Group of Insurance Companiesmakes it easy to understand, buy and useauto insurance.Progressiveofferschoicesso consumers can reach us whenever, wherever and however it's most convenient - online at progressive.com, by phone at1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressiveprovides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; itis the third largest auto insurer in the country, a leading seller ofmotorcycleandcommercial auto insurance, and one of the top 15 homeowners insurance carriers.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price, Snapshot, and HomeQuote Explorer.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.

Company Contact:Douglas S. Constantine(440) 910-3563 investor_relations@progressive.com

The Progressive Corporation6300 Wilson Mills Road Mayfield Village, Ohio 44143 http://www.progressive.com

Progressive March 2021 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/b6d72c6c-4137-4e2c-9a45-824b03d5c7a0