The Progressive Corporation, an insurance holding company, provides personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The company’s vehicle insurance products protect its customers against losses due to collision and physical damage to their motor vehicles, uninsured and underinsured bodily injury, and liability to others for personal injury or property damage arising out of the use of those vehicles. Its property insurance products protect its customers against losses due to damages to their structure or possessions within the structure, as well as liability for accidents occurring in the structure or on the property. Its non-insurance subsidiaries and affiliates generally support its insurance and investment operations. The company operates its vehicle businesses and its property business in a majority of the United States. It also sells personal auto physical damage and auto property damage liability insurance in Australia. In 2015, the company acquired a controlling interest in ARX Holding Corp. (ARX), the parent company of American Strategic Insurance and other insurance subsidiaries and affiliates (ASI), and writes property insurance for homeowners, other property owners, and renters. Segments The company’s segments include Personal Lines, Commercial Lines, and Property. Personal Lines This segment writes insurance for personal autos and recreational vehicles through both an independent insurance agency channel and a direct channel. It writes personal auto insurance in all 50 states and the District of Columbia and writes the majority of its special lines products in all 50 states. The company also writes personal auto insurance in Australia. This business generally offers more than one program in a single state, with each program targeted to a specific distribution channel, market, or customer group. The company’s strategy is to be a competitively priced provider of a full line of auto insurance products with distinctive service, distributed through whichever channel the customer prefers. The Personal Lines segment consists of the company’s personal auto insurance products, as well as its special lines products. This business includes Snapshot, its usage-based insurance program, which is available to consumers through both the Agency and Direct channels in 48 states and the District of Columbia. Special lines products include insurance for motorcycles, ATVs, RVs, manufactured homes, watercraft, snowmobiles, and similar items, and represented approximately 8% of its Personal Lines business for 2015. Due to the nature of these products, the company typically experiences higher losses during the warmer weather months. As of December 31, 2015, the company also offered a personal umbrella insurance product in 37 states and the District of Columbia through certain independent agents and to Direct customers via telephone. Its Personal Lines products are sold through both the Agency and Direct channels. The Agency business includes business written by the company’s network of approximately 35,000 independent insurance agencies located throughout the United States, including brokerages in New York and California. These independent insurance agents and brokers have the ability to place business with Progressive for specified insurance coverages within prescribed underwriting guidelines, subject to compliance with company-mandated procedures. The Direct business includes business written directly by the company on the Internet, through mobile devices, and over the phone. The Direct business represented 48% of the company’s Personal Lines volume in 2015. In its Personal Lines segment, the company is continuing to focus on its efforts to further penetrate customer households through cross-selling auto policies with other products, including through Progressive Home Advantage (PHA), to meet a range of customer needs. PHA is the program in which the company bundle its auto product with property insurance provided by ASI, primarily in the Agency channel, or unaffiliated insurance carriers in the Direct channel. In addi
progressive corp (PGV:Frankfurt)
6300 Wilson Mills Road
Mayfield Village, OH 44143
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