Major Rating Factors:
Fair profitability index (3.7 on a scale of 0 to 10) with operating losses during 2020, 2023 and the first nine months of 2024. Return on equity has been low, averaging 1.4% over the past five years. Fair long-term capitalization index (4.8) based on fair current risk adjusted capital (severe loss scenarios), although results have slipped from the good range during the last year. History of adequate reserve strength (5.7) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent overall results on stability tests (7.9). Stability strengths include excellent operational trends, good risk adjusted capital for prior years and excellent risk diversification.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (54.1%), work comp (22.8%), fin guar/surety (0.5%), other (22.7%)
Licensed in:
All states and Canada
Principal Investments:
Investment grade bonds (75.0%), common stock (21.2%), real estate (2.4%), non investment grade bonds (0.2%), other (1.3%)
Corporate Info
Group Affiliation
The Progressive Corporation
Investment Rating
Company Address
111 Congressional Boulevard
Carmel, IN 46032
Carmel, IN 46032
Phone Number
(317) 636-9800 7433
NAIC Number
12416
Largest Affiliates