Financial
Highlights


Five-Year Financial Highlights

Three Months Ended March 31,Years Ended December 31,
202120202020201920182017
(billions – except per share amounts)
Net premiums written$11.7$9.9$40.6$37.6$32.6$27.1
Growth over prior period19%7%8%15%20%16%
Net premiums earned$10.4$9.4$39.3$36.2$30.9$25.7
Growth over prior period10%11%8%17%20%14%
Total revenues$11.4$9.3$42.7$39.0$32.0$26.8
Net income$1.48$0.69$5.70$3.97$2.62$1.59
Per common share$2.51$1.17$9.66$6.72$4.42$2.72
Underwriting margin10.7%13.1%12.3%9.1%9.4%6.6%
Three Months Ended March 31,Years Ended December 31,
202120202020201920182017
At Period-End
(billions – except shares outstanding, per share amounts, and policies in force)
Common shares outstanding (millions)585.2585.3585.2584.6583.2581.7
Book value per common share$29.64$23.68$28.27$22.54$17.71$15.96
Consolidated shareholders’ equity$17.8$14.4$17.0$13.7$10.8$9.3
Common share close price$95.61$73.84$98.88$72.39$60.33$56.32
Market capitalization$56.0$43.2$57.9$42.3$35.2$32.8
Return on average common shareholders’ equity
Net income38.5%26.8%35.6%31.3%24.7%17.8%
Comprehensive income38.4%28.5%39.3%35.0%23.8%21.7%
Policies in force (thousands)
Personal Lines
Agency – auto7,863.57,164.67,617.06,994.36,358.35,670.7
Direct – auto9,338.88,126.38,881.47,866.57,018.56,039.1
Special lines5,026.74,574.54,915.14,547.84,382.24,365.7
Total Personal Lines22,229.019,865.421,413.519,408.617,759.016,075.5
Growth over prior year12%8%10%9%10%10%
Commercial Lines858.9759.7822.0751.4696.9646.8
Growth over prior year13%7%9%8%8%6%
Property2,566.32,264.12,484.42,202.11,936.51,461.7
Growth over prior year13%13%13%14%32%22%
Companywide total25,654.222,889.224,719.922,362.120,392.418,184.0
Growth over prior year12%9%11%10%12%10%
Private passenger auto insurance market1||||||||||||||NA$247.4$240.9$222.3
Market share2||||||||||||||NA12.4%11.1%10.1%
Three Months Ended March 31,Years Ended December 31,
202120202020201920182017
Stock Price Appreciation (Depreciation)3
Progressive1.4%5.3%41.4%25.1%9.3%61.6%
S&P 5006.2%(19.6)%18.3%31.5%(4.4)%21.9%

NA = Final comparable industry data will not be available until our third quarter report.

1 Represents net premiums written as reported by A.M. Best Company, Inc.

2 Represents Progressive’s private passenger auto business, including motorcycle insurance, as a percent of the private passenger auto insurance market.

3 Represents average compounded rate of increase (decrease) and assumes dividend reinvestment.

Nisenbaum’s “Las Talaveritas” with a woman lying on a couch with her feet in a man’s lap, each reading the newspaper