GlobeNewswire Inc | Jan 26, 2022 08:23AM EST

January 26, 2022

MAYFIELD VILLAGE, OHIO, Jan. 26, 2022 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for December 2021 and the fourth quarter of 2021:

December Quarter (millions,except per 2021 2020 Change 2021 2020 Changeshareamounts andratios; unaudited)Net premiums $ 3,113.3 $ 2,789.1 12 % $ 10,749.3 $ 9,542.3 13 %writtenNet premiums $ 3,613.2 $ 3,164.2 14 % $ 11,601.4 $ 10,208.8 14 %earnedNet income $ 393.3 $ 706.0 (44) % $ 962.3 $ 1,684.3 (43) %Per shareavailable to $ 0.67 $ 1.20 (44) % $ 1.63 $ 2.85 (43) %commonshareholdersTotal pretaxnet realizedgains $ 222.3 $ 340.9 (35) % $ 425.3 $ 760.2 (44) %(losses) onsecuritiesCombined 94.6 85.2 9.4 94.7 88.4 6.3ratio pts. pts.Averagedilutedequivalent 586.4 587.5 0 % 586.3 587.6 0 %commonshares

December(thousands; unaudited) 2021 2020 Change

Policies in Force Personal Lines Agency ? auto 7,879.0 7,617.0 3%Direct ? auto 9,568.2 8,881.4 8%Total personal auto 17,447.2 16,498.4 6%Total special lines 5,288.5 4,915.1 8%Total Personal Lines 22,735.7 21,413.5 6%Total Commercial Lines 971.2 822.0 18%Total Property business 2,776.2 2,484.4 12%Companywide Total 26,483.1 24,719.9 7%

See Progressives complete monthly earnings release for additional information.

About Progressive

Progressive InsuranceSMmakes it easy to understand, buy and usecar insurance, home insurance, and other protection needs.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 car 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 December 2021 Complete Earnings Release http://ml.globenewswire.com/Resource/Download/2648853f-1811-42f4-950c-90c123e0c378