Case 86 Progressive Corporation

B. Rajesh Kumar
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B. Rajesh Kumar: Institute of Management Technology

A chapter in Rising Stars, 2024, pp 623-628 from Springer

Abstract: Abstract The Progressive Corporation is an insurance holding company based in the United States with subsidiaries and affiliates. The insurance subsidiaries of the company offer personal and commercial auto insurance, personal residential and commercial property insurance, and workers’ compensation insurance basically for transport sector. The insurance services are also provided to business-related general liability insurance and other specialty property casualty insurance and related services. The noninsurance subsidiaries offer support services for insurance and investment activities. On account of the nature of insurance, legal and regulatory requirements, the insurance and claims organizations are generally managed on a state by state basis. The investment portfolio of the company consisting of fixed maturity securities, short-term investments, and equities are valued at $53.5 billion by December 2022. By December 2022, the company employed 55,100 employees. The Progressive stock had cumulative total monthly returns of 89% compared to the negative returns registered by market index Nasdaq Financial 100 during the recent 5-year period June 2018–May 2023.

Date: 2024
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DOI: 10.1007/978-3-031-50032-9_86

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