Major Rating Factors:
Poor long-term capitalization index (0.1 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). Weak profitability index (1.9). Vulnerable liquidity (0.0) as a spike in claims may stretch capacity.
Other Rating Factors:
Fair reserve development (3.6) as reserves have generally been sufficient to cover claims. Fair overall results on stability tests (3.5) including excessive premium growth, weak risk adjusted capital in prior years and negative cash flow from operations for 2023.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
F - Negative cash flow.
L - Past results on our liquidity tests.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
TX
Principal Investments:
Investment grade bonds (89.8%), cash (10.2%)
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
29203
Website
Largest Affiliates