Major Rating Factors:
Fair reserve development (3.3 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. Fair profitability index (3.7) with operating losses during 2022 and 2023. Return on equity has been low, averaging 0.5% over the past five years. Good liquidity (6.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Strong long-term capitalization index (7.1) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting significant improvement over results in 2023. Excellent overall results on stability tests (7.7). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (98.9%), other (1.1%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (99.1%), non investment grade bonds (0.9%)
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