Major Rating Factors:
Fair long-term capitalization index (4.5 on a scale of 0 to 10) based on fair current risk adjusted capital (severe loss scenarios), although results have slipped from the good range during the last year. Fair reserve development (4.0) as reserves have generally been sufficient to cover claims. In 2024 the one year reserve development was 16.9% deficient. Fair profitability index (3.1) with operating losses during 2020, 2023 and 2024.
Other Rating Factors:
Good liquidity (5.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent overall results on stability tests (7.7). Stability strengths include excellent operational trends and excellent risk diversification.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
Principal Lines of Business:
Personal/comm auto (51.0%), work comp (22.5%), fin guar/surety (0.6%), other (25.9%)
Licensed in:
All states and Canada
Principal Investments:
Investment grade bonds (74.9%), common stock (21.3%), real estate (2.3%), non investment grade bonds (0.6%), other (0.9%)
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