About the Company
Headquartered in Mayfield Village, Ohio, the Progressive Corporation is a company that mainly provides automobile insurance. With a workforce of more than 41,500 employees, it is one of the largest car insurance providers in the United States. As of 2020, the company has more than 18 million customers from its 16 locations across America. Some of these locations are Riverview, Mayfield, St. Petersburg, Highland Heights, Phoenix, etc.
The company offers over 30 different types of insurance under four categories. These categories are personal, business, property and vehicle. It offers 12 types of vehicle insurance for automobiles line RV, ATV/UTV, boat, auto, PWC, motorcycle, snowmobile, etc. It offers five types of business insurances such as general liability, professional liability, business owners policy and the like. The company provides insurances and protection for properties under eight segments like condos, renters, home warranty, homeshare, flood, etc. The insurances and services it offers under the ‘personal’ category are for health, vision, dental, phone & electronics, pet, life, wedding & event, etc. It also offers financial services like personal loans and car-shopping services.
Jack Green and Joseph Lewis established Progressive Corporation in 1937 as the Progressive Insurance Company. The company has acquired two significant companies over the years. Its most substantial acquisition was when it took over American Strategic Insurance (ASI) for $875 million in 2014. ASI is a home insurance providing company established in 1997 and as of 2020 most of its progress is due to Progressive. It also has been Title Sponsor for several shows and other entities from the beginning of the 21st century. Some of these are International Motorcycle Shows, Sturgis Motorcycle Rally, The Handbuilt Bike Show, Fred Hall Shows, and Quartzsite Sports, Vacation & RV Show. The company trades in the New York Stock Exchange (NYSE) under the ticker symbol PGR shares. PGR entered the Standard & Poor’s 500 companies list on 4th August 1997.
It has been a part of the Fortune 500 list for more than two decades, and as of 2020, it is the 86th company in that list. Fortune has also recognised it in two more lists, namely Global 500 and 100 fastest-Growing Companies. In 2020 Forbes also enlisted it in five lists such as Global 2000, Best Employers for New Grads, Best Employers for Diversity, etc. In 2021 Forbes recognised it as one of America’s Best Insurance Firms.;
|Industry||Insurance—Property & Casualty|