About The Progressive Corporation (PGR)

Company Description:

The Progressive Corporation, a leader in the insurance industry, specializes in offering insurance solutions for personal and commercial use. Known for its auto insurance, Progressive has expanded its offerings to include property and casualty insurance.

Founded in 1937 by Joseph Lewis and Jack Green as Progressive Mutual Insurance Company, The Progressive Corporation has grown into one of the most prominent insurance providers in the United States. The company's headquarters is situated at 6300 Wilson Mills Road, Mayfield, Ohio, United States.

Main Product(s):

Progressive Corporation primarily provides insurance for motor vehicles. This includes cars, motorcycles, boats, RVs, and commercial vehicles. It also offers property insurance, such as homeowners, renters, and condo insurance.

Short History of The Progressive Corporation:

• 1937 – Founded as Progressive Mutual Insurance Company.
• 1956 – Progressive Casualty Company was formed to write auto insurance for high-risk drivers.
• 1965 – The company moved to its new headquarters in Mayfield Village, Ohio.
• 1971 – Progressive went public, listing on the New York Stock Exchange.
• 1987 – It becomes the first auto insurer to offer 24/7 claims reporting.
• 1990 – Progressive reached $1 billion in premiums and expanded its offerings to include homeowner's insurance.
• 2008 – Launched the ‘Snapshot' program, an early example of telematics in auto insurance.
• 2016 – Expanded into international markets with the acquisition of ARX Holding.