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Progressive Corp NYSE: PGR-N

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Progressive Reports September 2021 Results

GlobeNewswire - Thu Oct 14, 7:14AM CDT

The Progressive Corporation (NYSE:PGR) today reported the following results for September 2021 and the third quarter of 2021:

September                                              Quarter
(millions, except per share amounts and ratios; unaudited) 2021          2020           Change       2021         2020          Change
Net premiums written                                       $  4,004.0    $ 3,468.1      15       %   $  12,446.5  $   11,015.1  13      %
Net premiums earned                                        $  3,537.5    $ 3,103.2      14       %   $  11,364.8  $   9,973.5   14      %
Net income (loss)                                          $  (130.3  )  $ 231.4        (156 )   %   $  118.5     $   1,530.8   (92 )   %
Per share available to common shareholders                 $  (0.23   )  $ 0.39         (158 )   %   $  0.19      $   2.59      (93 )   %
Total pretax net realized gains (losses) on securities     $  (217.4  )  $ (131.7    )  65       %   $  36.8      $   532.6     (93 )   %
Combined ratio                                             100.1               88.3     11.8 pts.    100.4        87.8          12.6 pts.
Average equivalent common shares                           584.7               587.8    (1   )   %   587.1        587.8         0       %
September
(thousands; unaudited)  2021      2020      Change
Policies in Force
Personal Lines
Agency - auto           7,973.6   7,527.1   6 %
Direct - auto           9,613.1   8,774.3   10 %
Total personal auto     17,586.7  16,301.4  8 %
Total special lines     5,282.4   4,905.8   8 %
Total Personal Lines    22,869.1  21,207.2  8 %
Total Commercial Lines  952.7     803.9     19 %
Total Property business 2,735.0   2,421.0   13 %
Companywide Total       26,556.8  24,432.1  9 %

See Progressive's complete monthly earnings release, including the "Monthly Commentary," for additional information.

About Progressive

The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach us whenever, wherever and however it's most convenient - online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the third largest auto insurer in the country, a leading seller of motorcycle and commercial 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(R), Snapshot(R), and HomeQuote Explorer(R).

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 September 2021 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/3ef489bd-2477-46aa-8aa0-fa13cfae985f

https://ml.globenewswire.com/media/5c9adff5-2e63-4752-8055-4bdb7d2d133f/small/progressive-logo-jpg.jpg

https://ml.globenewswire.com/media/5c9adff5-2e63-4752-8055-4bdb7d2d133f/small/progressive-logo-jpg.jpg

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