Progressive Property Ins Co
Major Rating Factors:
History of adequate reserve strength (6.9 on a scale of 0 to 10) as reserves have been consistently at an acceptable level. Good overall profitability index (5.3) despite operating losses during 2021 and 2022. Good liquidity (6.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Good overall results on stability tests (6.3) despite. Stability strengths include good operational trends, good risk adjusted capital for prior years and excellent risk diversification. Strong long-term capitalization index (7.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2020.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
Principal Lines of Business:
Homeowners (96.4%), fire (0.1%), other (3.5%)
Licensed in:
FL, LA, TX
Principal Investments:
Investment grade bonds (100.0%)
Corporate Info
Group Affiliation
The Progressive Corporation
Investment Rating
Company Address
2 ASI Way N
Saint Petersburg, FL 33702
Saint Petersburg, FL 33702
Phone Number
(727) 821-8765
NAIC Number
13038
Website
Largest Affiliates