Why Is Everyone Talking About Progressive Insurance? | Progressive Insurance

AM Best has affirmed the Banking Backbone Appraisement (FSR) of A (Superior) and the Long-Term Issuer Acclaim Ratings (Long-Term ICR) of "aa" for associates of The Progressive Corporation (Progressive) (Mayfield Village, OH). Additionally, AM Best has affirmed the Long-Term ICR of "a" and all Long-Term Issue Acclaim Ratings (Long-Term IR) of all chief issuances and the adopted banal arising of the ancestor captivation company, Progressive. Also, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of "a " of National Continental Allowance Aggregation (National Continental) (Bohemia, NY). The angle of these Acclaim Ratings (ratings) is stable. (See beneath for a abundant advertisement of the companies and ratings.)

AM Best has assigned the FSR of A (Superior) and the Long-Term ICR of "aa" to Blue Hill Specialty Allowance Aggregation Inc. (Blue Hill) (Chicago, IL) which is now allotment of Progressive (see abundant account below). The angle assigned to this appraisement is stable.

The ratings of Progressive reflect its antithesis area strength, which AM Best categorizes as strongest, as able-bodied as its able operating performance, actual favorable business contour and adapted action accident administration (ERM).

Progressive’s risk-adjusted assets has benefited from consistently favorable underwriting after-effects and aerial levels of advance income, as able-bodied as ample accomplished and abeyant basic gains. Progressive continues to account from a acclimatized and abiding administration team, cast name recognition, assorted approach administration platform, and avant-garde underwriting and claims-handling technology. In addition, Progressive continues to acquaintance able exceptional growth, cogitating of its boundless cast recognition. Progressive’s auto after-effects accept outperformed competitors in contempo years admitting the impacts of abundance and severity throughout the auto allowance industry, due mainly to its adult abstracts mining and appraisement techniques. These absolute appraisement factors are account partially by Progressive’s aerial underwriting advantage about to industry averages. However, Progressive has operated historically with animated underwriting leverage, while consistently breeding favorable underwriting after-effects with actual low levels of volatility.

The ratings of National Continental reflect the company’s antithesis area strength, which AM Best categorizes as actual strong, as able-bodied as its able operating performance, bound business contour and adapted ERM. Additionally, the ratings admit the banking strength, basement and abstruse capabilities afforded as a accessory of Progressive.

The FSR of A (Superior) and the Long-Term ICRs of "aa" accept been affirmed with abiding outlooks for the afterward associates of The Progressive Corporation, which now includes the anew assigned company, Blue Hill:

The FSR of A (Excellent) and the Long-Term ICR of "a " accept been affirmed with a abiding angle for National Continental Allowance Company.

The Long-Term ICR of "a" and the afterward Long-Term IRs of The Progressive Corporation accept been affirmed with abiding outlooks:

The Progressive Corporation—

-- "a" on $500 actor 3.75% chief apart notes, due 2021

-- "a" on $500 actor 2.45% chief apart notes, due 2027

-- "a" on $300 actor 6.625% chief apart notes, due 2029

-- "a" on $550 actor 4.00% chief apart notes, due 2029

-- "a" on $400 actor 6.250% chief apart notes, due 2032

-- "a" on $350 actor 4.35% chief apart debentures, due 2044

-- "a" on $400 actor 3.7% chief apart notes, due 2045

-- "a" on $850 actor 4.125% chief apart notes, due 2047

-- "a" on $600 actor 4.2% chief apart notes, due 2048

-- "bbb " on $500 actor 5.375% accumulative adopted stock

This columnist absolution relates to Acclaim Ratings that accept been appear on AM Best’s website. For all appraisement advice apropos to the absolution and pertinent disclosures, including capacity of the appointment amenable for arising anniversary of the alone ratings referenced in this release, amuse see AM Best’s Contempo Appraisement Activity web page. For added advice apropos the use and limitations of Acclaim Appraisement opinions, amuse appearance Understanding Best’s Acclaim Ratings. For advice on the able media use of Best’s Acclaim Ratings and AM Best columnist releases, amuse appearance Guide for Media - Able Use of Best’s Acclaim Ratings and AM Best Appraisement Action Columnist Releases.

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AM Best is a all-around acclaim appraisement agency, account administrator and abstracts provider specializing in the allowance industry. The aggregation does business in added than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities about the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For added information, appointment www.ambest.com.

Copyright © 2019 by A.M. Best Appraisement Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View antecedent adaptation on businesswire.com: https://www.businesswire.com/news/home/20191212005564/en/

Contacts

Edin Imsirovic Chief Banking Analyst 1 908 439 2200, ext. 5740 edin.imsirovic@ambest.com

Christopher Sharkey Manager, Public Relations 1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com

Raymond Thomson CPCU, ARe, ARM Director 1 908 439 2200, ext. 5621 raymond.thomson@ambest.com

Jim Peavy Director, Public Relations 1 908 439 2200, ext. 5644 james.peavy@ambest.com

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