GlobeNewswire Inc | Jul 15, 2021 08:10AM EDT

July 15, 2021

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

June Quarter (millions, except 2021 2020 Change 2021 2020 Changeper share amountsand ratios; unaudited)Net premiums $ $ 13% $ $ 13%written 3,627.3 3,201.6 11,480.3 10,140.0Net premiums earned $ $ 14% $ $ 14% 3,459.9 3,023.1 10,982.3 9,648.6Net income $ 132.8 $ 470.9 (72) % $ 790.1 $ (56) % 1,790.4Per share availableto common $ 0.22 $ 0.80 (72) % $ 1.34 $ 3.04 (56) %shareholdersTotal pretax netrealized gains $ 124.2 $ 142.9 (13) % $ 461.8 $ 890.8 (48) %(losses) onsecuritiesCombined ratio 100.5 86.9 13.6 96.5 87.7 8.8 pts. pts.Average dilutedequivalent common 586.8 587.3 0 % 586.8 587.2 0%shares

On June 1, 2021, we acquired Protective Insurance Corporation and subsidiaries (Protective). Therefore, our June 2021 companywide results include, for the first time, the results of Protective, which are predominately included in the Commercial Lines business results throughout the release. Periods prior to June 1, 2021, do not include Protective's results.

June(thousands; unaudited) 2021 2020 Change

Policies in Force Personal Lines Agency ? auto 8,014.2 7,362.5 9 %Direct ? auto 9,581.3 8,507.6 13 %Total personal auto 17,595.5 15,870.1 11 %Total special lines 5,211.7 4,790.5 9 %Total Personal Lines 22,807.2 20,660.6 10 %Total Commercial Lines 916.6 775.8 18 %Property business 2,655.5 2,336.1 14 %Companywide Total 26,379.3 23,772.5 11 %

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 Corporation 6300 Wilson Mills Road Mayfield Village, Ohio 44143 http://www.progressive.com

Progressive June 2021 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/9fdec47d-bd7e-4cc4-b130-2178f47ad4bb