About Progressive Insurance
Progressive Insurance is a company based in Mayfield Heights (United States) founded in 1937 by Jack Green and Joseph Lewis.. The company has 66,310 employees as of December 31, 2024. Progressive Insurance has completed 2 acquisitions, including Midland Financial and Progressive Fleet and Specialty Programs. Progressive Insurance offers products and services including Auto Insurance, Home Insurance, Life Insurance, Motorcycle Insurance, and RV Insurance. Progressive Insurance operates in a competitive market with competitors including MetLife, Allstate, AIG, Aflac and Max Life Insurance, among others.
- Headquarter Mayfield Heights, United States
- Employees 66310 as on 31 Dec, 2024
- Founders Jack Green, Joseph Lewis
- Stage Public
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
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Social
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- Legal Name Progressive Corporation (The)
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Annual Revenue
$75.34 B21.36as on Dec 31, 2024
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Net Profit
$8.48 B117.3as on Dec 31, 2024
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EBITDA
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Latest Funding Round
- Investors
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Employee Count
66310
as on Dec 31, 2024
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Investments & Acquisitions
Midland Financial
& 1 more
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IPO & Listings of Progressive Insurance
Progressive Insurance is a publicly listed company on the NYSE with ticker symbol PGR in USA, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Progressive Insurance
Progressive Insurance offers a comprehensive portfolio of products and services, including Auto Insurance, Home Insurance, Life Insurance, Motorcycle Insurance, and RV Insurance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Protects vehicles and drivers from accidents and liabilities.
Safeguards homes and belongings against damage and theft.
Provides financial security for families upon policyholder's death.
Offers protection for motorcycles and riders on the road.
Covers RVs and related travel expenses for peace of mind.
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Software Development Team
185 people
Product Management Team
37 people
Sales and Marketing
35 people
Leadership Team
34 people
Human Resources and Administration
29 people
Data Analysis and Operations Team
21 people
Legal and Compliance
21 people
Senior Team
15 people
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Funding Insights of Progressive Insurance
- Total Funding Total Funding
- Total Rounds 1
- Last Round Last Round
- First Round First Round
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jun, 2009 | Amount | Grant - Progressive Insurance | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Progressive Insurance
Progressive Insurance has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include United States Department of Agriculture. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Leadership is provided on agriculture, food, and rural development matters.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Progressive Insurance
Progressive Insurance has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Midland Financial and Progressive Fleet and Specialty Programs. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Asset and wealth management services are provided alongside financial planning.
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2004 | ||||
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Property and casualty insurance is provided nationwide by the carrier.
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1954 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Progressive Insurance
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Progressive Insurance Comparisons
Competitors of Progressive Insurance
Progressive Insurance operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as MetLife, Allstate, AIG, Aflac and Max Life Insurance, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Internet-based life, health, auto, home, and pet insurance is offered.
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| domain | founded_year | HQ Location |
Online insurance for life, property, auto, and business is provided.
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| domain | founded_year | HQ Location |
AIG is recognized as a leading global insurance organization.
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| domain | founded_year | HQ Location |
Financial protection via accident, life, and supplemental insurance is provided.
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| domain | founded_year | HQ Location |
Life insurance plans and policies are offered for protection.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Progressive Insurance
Frequently Asked Questions about Progressive Insurance
When was Progressive Insurance founded?
Progressive Insurance was founded in 1937 and raised its 1st funding round 72 years after it was founded.
Where is Progressive Insurance located?
Progressive Insurance is headquartered in Mayfield Heights, United States. It is registered at Mayfield Heights, Ohio, United States.
Who is the current CEO of Progressive Insurance?
Tricia Griffith is the current CEO of Progressive Insurance.
How many employees does Progressive Insurance have?
As of Dec 31, 2024, the latest employee count at Progressive Insurance is 66,310.
What is the annual revenue of Progressive Insurance?
Annual revenue of Progressive Insurance is $75.34B as on Dec 31, 2024.
What does Progressive Insurance do?
In 2022, the company recorded annual revenues of 52.05B and a net profit of 0.86B.
Who are the top competitors of Progressive Insurance?
What products or services does Progressive Insurance offer?
Progressive Insurance offers Auto Insurance, Home Insurance, Life Insurance, Motorcycle Insurance, and RV Insurance.
Is Progressive Insurance publicly traded?
Yes, Progressive Insurance is publicly traded on NYSE under the ticker symbol PGR.
How many acquisitions has Progressive Insurance made?
Progressive Insurance has made 2 acquisitions, including Midland Financial, and Progressive Fleet and Specialty Programs.
Who are Progressive Insurance's investors?
Progressive Insurance has 1 investor. Key investors include United States Department of Agriculture.
What is Progressive Insurance's ticker symbol?
The ticker symbol of Progressive Insurance is PGR on NYSE.
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