Progressive Reports March 2021 Results

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 per share 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 common shareholders	$0.96		$0.54		79	%	$2.51		$1.17		115	%
Total pretax net realized gains (losses) on securities	$348.7		$(329.1)		(206)	%	$585.3		$(553.6)		(206)	%
Combined ratio	90.7		77.1		13.6 pts.		89.3		86.9		2.4 pts.
Average diluted equivalent common shares	586.6		587.0		0	%	586.9		586.9		0	%

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.