Major Rating Factors:
Fair overall results on stability tests (3.7 on a scale of 0 to 10) including potential drain of affiliation with Progressive Group and weak results on operational trends. The largest net exposure for one risk is acceptable at 2.7% of capital. Fair liquidity (4.3) as cash resources may not be adequate to cover a spike in claims.
Other Rating Factors:
History of adequate reserve strength (5.9) as reserves have been consistently at an acceptable level. Strong long-term capitalization index (7.2) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years. Excellent profitability (9.6) with operating gains in each of the last five years. Return on equity has been excellent over the last five years averaging 30.5%.
Stability Factors:
L - Past results on our liquidity tests.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (95.6%), homeowners (0.1%), other (4.3%)
Licensed in:
All states except AL, FL, IL, MA, NH, PA, VT, WY, PR
Principal Investments:
Investment grade bonds (91.0%), common stock (6.0%), non investment grade bonds (2.9%)
Corporate Info
Group Affiliation
Progressive Group
Investment Rating
Company Address
6300 WILSON MILLS ROAD W33
CLEVELAND, OH 44143
CLEVELAND, OH 44143
Phone Number
(440) 395-4460
NAIC Number
42919
Website
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