Major Rating Factors:
Fair reserve development (4.4 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Good overall profitability index (6.0) despite operating losses during 2023. Return on equity has been fair, averaging 9.0% over the past five years. Strong long-term capitalization index (8.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital has steadily grown over the last five years.
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 (8.0). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
Principal Lines of Business:
Personal/comm auto (97.6%), comm multi (0.5%), other (1.9%)
Licensed in:
(No states)
Principal Investments:
Investment grade bonds (100.0%)
Corporate Info
Group Affiliation
The Progressive Corporation
Investment Rating
Company Address
6300 Wilson Mills Road
Cleveland, OH 44143
Cleveland, OH 44143
Phone Number
(440) 461-5000
NAIC Number
11410
Website
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