Progressive Corp. (PGR)
A holding company for insurance, Progressive Corp. provides residential property insurance, personal and commercial auto insurance, and other specialized property-casualty insurance and related services. It functions through the following divisions: property, commercial lines, and personal lines. Agency and direct firms are included in the Personal Lines sector. For cars and trucks owned and operated mostly by small businesses in the auto, for-hire transportation, contractor, for-hire specialty, tow, and for-hire livery markets, the Commercial Lines segment writes main liability and physical damage insurance. The chapter on property includes coverage for tenants, other property owners, and homeowners for residential property insurance. The company's headquarters are in Mayfield Village, Ohio, and it was established on March 10th, 1937.
The marketing strategy of Progressive is well renowned for including competitor statements alongside its own. It was the first significant insurer to provide auto policies by phone and website. Progressive started offering Pet Injury coverage in September 2007, which offers compensation for canines and felines harmed in collisions and is bundled in for free with Collision coverage. Ford Explorers and Ford Escapes that have undergone unique modifications serve as Progressive's immediate response vehicles (IRVs).
- Founded: 1937
- Revenue: $47.7 billion (2022)
- Net Income: $852 million (2022)
- Market Cap: $74.4 billion (2022)
- 1-Year Trailing Total Return: 25.7%
- Exchange: New York Stock Exchange
- Website: https://investors.progressive.com/
