PROGRESSIVE PROPERTY INS CO
Major Rating Factors:
History of adequate reserve strength (5.8 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good liquidity (6.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Fair overall results on stability tests (4.0) including weak results on operational trends. Strong long-term capitalization index (8.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Weak profitability index (2.8) with operating losses during each of the last five years. Average return on equity over the last five years has been poor at -16.6%.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (94.3%), fire (1.2%), other (4.5%)
Licensed in:
FL, LA, TX
Principal Investments:
Investment grade bonds (100.0%)
Corporate Info
Group Affiliation
Progressive Corporation
Investment Rating
Company Address
1425 Airline Drive Suite 200
METAIRIE, LA 70001
METAIRIE, LA 70001
Phone Number
(727) 821-8765
NAIC Number
13038
Website
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