Major Rating Factors:
Fair reserve development (4.5 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Strong long-term capitalization index (9.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital has steadily grown over the last five years. Excellent profitability index (7.1) despite operating losses during 2023.
Other Rating Factors:
Good liquidity (7.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent overall results on stability tests (8.1). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
Principal Lines of Business:
Personal/comm auto (97.8%), comm multi (0.6%), other (1.6%)
Licensed in:
NJ
Principal Investments:
Investment grade bonds (100.0%)
Corporate Info
Group Affiliation
The Progressive Corporation
Investment Rating
Company Address
6300 Wilson Mills Road
Cleveland, OH 44143
Cleveland, OH 44143
Phone Number
(440) 461-5000
NAIC Number
11410
Website
Largest Affiliates