Progressive Insurance

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Progressive Insurance markets its auto insurance products directly to consumers all across the United States. Learn more about Progressive auto insurance coverage and the company's financial strength.

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Long a leader in nonstandard, high-risk personal auto insurance, The Progressive Corporation has motored beyond its traditional business into standard-risk and preferred auto insurance, as well as other personal-use vehicle coverage (motorcycles, recreational vehicles, and snowmobiles). Besides personal lines, the company's offerings include collateral insurance for auto lenders, directors' and officers' insurance, and employee misconduct insurance. The company markets directly to consumers via its Web site and toll-free telephone number and through 30,000 independent agents in the US.

Financial Highlights

Fiscal Year End: December
Revenue (2003): 11892.00 M
Revenue Growth (1 yr): 27.90%
Employees (2003): 25,834
Employee Growth (1 yr): 12.40%

A.M. Best Co. has affirmed the financial strength ratings of A+ (Superior) for Progressive Agency Pool, Progressive Direct Pool and United Financial Casualty Company, (Mayfield Village, OH). These entities previously comprised the Progressive Casualty Pool. The financial strength rating of A (Excellent) for National Continental Insurance Company has also been affirmed. Concurrently, A.M. Best has affirmed the "a" senior debt rating for The Progressive Corporation's (NYSE:PGR - News) existing debt securities and the indicative rating of "a" for senior debt under the company's $650 million shelf registration, of which $250 million remains. The rating outlooks are stable.

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