Major Rating Factors:
Fair reserve development (3.6 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2024 the one year reserve development was 16.9% deficient. Weak profitability index (2.8) with operating losses during 2023, 2024 and 2025. Good long-term capitalization index (5.5) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2024.
Other Rating Factors:
Good liquidity (6.4) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent overall results on stability tests (8.3). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
F - Negative cash flow.
Principal Lines of Business:
Personal/comm auto (56.6%), work comp (18.0%), fin guar/surety (0.2%), other (25.1%)
Licensed in:
All states and Canada
Principal Investments:
Investment grade bonds (76.8%), common stock (19.5%), real estate (2.1%), non investment grade bonds (0.6%), other (1.0%)
Corporate Info
Group Affiliation
The Progressive Corporation
Investment Rating
Company Address
111 Congressional Boulevard
Carmel, IN 46032
Carmel, IN 46032
Phone Number
(800) 626-8381
NAIC Number
12416
Website
Largest Affiliates