2024 Annual Report 2024 Summary Report

A B O U T P R O G R E S S I V E

The Progressive Group of Insurance Companies, in business since 1937, is one of the country's largest auto insurance groups, the largest seller of motorcycle and boat policies, the market leader in commercial auto insurance, and one of the top 15 homeowners carriers, based on premiums written. Progressive is committed to becoming consumers', agents', and business owners' number one destination

for insurance and other financial needs by providing

competitive rates and innovative products and services that meet customers' needs throughout their lifetimes, including superior mobile, online, and in-person customer service, and best-in-class, 24-hour claims service.

Progressive companies offer consumers choices in how

to shop for, buy, and manage their insurance policies.

Progressive primarily offers personal and commercial auto

insurance, insurance for motorcycles, watercraft, and other recreational vehicles, and personal residential

property insurance. We also offer business-related general

liability and commercial property insurance predominantly for small businesses, workers' compensation insurance primarily for the transportation industry, and other specialty property-casualty insurance. We operate our Personal and Commercial Lines businesses through more than 40,000 independent insurance agencies throughout the U.S. and directly to consumers online, or by phone, and, for personal auto, via the Progressive mobile app. Our personal property business is underwritten by Progressive companies, and other select carriers, throughout the United States.

front cover: Reflection (detail), 2008; The Space Between (detail), 2002

F I V E - Y E A R F I N A N C I A L H I G H L I G H T S

(billions - except per share amounts)

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 annual compounded rate of increase and assumes dividend reinvestment.

2 An Early Spring, 2010

E M P A T H Y

Me. You. We. To be able to view the world and people within it through the lens of understanding and with genuine

concern, we must first be able to recognize our true selves and reflect on the differences within us. At Progressive, our Core Values define who we are, and serve as the foundation

for how we interact with others. Within the physical and virtual halls of Progressive, we have an incredible opportunity to live the Golden Rule every day. By putting ourselves in the shoes of our customers, showing compassion for those struggling in our communities, and taking the time to understand the partners we serve, we can help them move forward and live fully. With this purpose at the center of why we are here, we chose "empathy" as the theme for this year's annual report.

American photographer Kelli Connell's Double Life series is a complex body of work documenting dual portraits of a single model over twenty-two years. These portraits poetically reveal one's interior life of contrasting wants, identities, and internal monologues by elevating the mundane or familiar. The "double life" suggested in these

photographs is that we can also interpret the figures as two different people in equally complex and emotionally significant moments. Ultimately, these artworks illustrate

not only how we show empathy towards those around us, but also how we care for, argue with, forgive, and love who we are individually. A selection of these photographs will join Progressive's growing collection of contemporary art.

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untoF O U R C O R N E R S T O N E S asothersOur fourcornerstones-whowe are,

youwhy we are here, where we are headed, and how we will get there-are the construct Progressive uses to think about having a competitive advantage. These cornerstones permit all people

associated with us to understand what

wouldwe expect of ourselves and eachhaother and how we conduct our business.

4 Giggle, 2002

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4 Giggle, 2002