Major Rating Factors:
Fair reserve development (4.0 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2023 and 2024 the two year reserve development was 18.6% and 29.3% deficient respectively. Good overall profitability index (5.5) despite operating losses during 2022 and 2023. Excellent expense controls. Strong long-term capitalization index (7.4) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 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 (7.8). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
F - Negative cash flow.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (98.6%), other (1.4%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (98.6%), non investment grade bonds (1.4%)
Corporate Info
Group Affiliation
The Progressive Corporation
Investment Rating
Company Address
300 N. Commons Blvd.
Mayfield, OH 44143
Mayfield, OH 44143
Phone Number
(440) 461-5000
NAIC Number
15643
Website
Largest Affiliates