Profile of Progressive Insurance (PGR)

Progressive Corporation serves as an insurance holding company in the United States. The company operates through three segments: Personal Lines, Commercial Auto, and Other. Personal Lines segment writes insurance for private passenger automobiles, recreation, and other vehicles through both an independent agency channel and a direct channel. The Personal Lines agency channel includes business written by the company’s network of approximately 30,000 independent insurance agencies, brokers, and strategic alliance business relationships. The Commercial Auto segment writes primary liability, physical damage, and other auto-related insurance for automobiles and trucks owned by businesses, primarily through the independent agency channel. Other segment includes the Professional Liability Group (PLG) and the Motor Carrier units. PLG’s principal products are liability insurance for directors and officers, and financial institution bonds. Its main product is employee dishonesty insurance. PLG’s principal customers are community banks. The Motor Carrier unit provides insurance-related services, such as policy issuance and claims adjusting services for the commercial auto insurance procedures/plans in 25 states. The company was formed in 1965 and is headquartered in Mayfield Village, Ohio.