BNET Industries
Market Cap:$10.2B
Last Fiscal Year Sales:$12.8B
- Public
- US
Dow Jones Description
Founded in 1965, The Progressive Corporation (NYSE: PGR) is a leading provider of non-standard, high risk personal automobile insurance and other specialty property-casualty insurance and related services. Its three business segments include Personal Lines, Commercial Automobile, and Other. Through these divisions the company provides insurance for private passenger automobiles, primary liability and physical damage for vehicles owned by businesses, and liability insurance for directors and officers. The Company engages a network of over 28,336 agents, brokers and strategic business relationships at its headquarters in Village, OH and throughout the US.
President & Chief Executive OfficerGlenn M. Renwick
Number of Employees 25,929
Contact Information
6300 Wilson Mills Rd
Cleveland, Ohio 44143-2109
(440) 461-5000
Peer Companies
NAICS Code Direct Property and Casualty Insurance Carriers: 524126
Recent Events
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Progressive Co. hit by seasonal, economic worries
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FBR Capital Downgrades Progressive PGR to Market Perform
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FBR Capital Markets and Co. downgrades Progressive to 'market perform'
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Progressive reports drop in May net income
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Progressive launches MyRate in Colorado
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Soleil Securities Initiates Coverage on Progressive PGR with a Hold
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Progressive Corp. April profit rises - Quick Facts
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BRIEF-RESEARCH ALERT-Goldman upgrades Metlife, Lincoln National
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Bank of America Upgrades Progressive PGR to Neutral
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Progressive 1Q Net Down 3% Amid Securities Losses
News & Analysis
Filter by
progressive corp. - All News and Analysis
The Progressive Corporation Q3 2008 (Qtr End 09/30/08) Earnings Call Transcript
Seeking Alpha
- 2008-11-12
Question-and-Answer SessionOperator Operator Instructions Your first question comes from Jay Gelb – Barclays Capital Jay Gelb – Barclays Capital Progressive’s financial leverage is above its long-term target and excess capital appears to have been eroded as the result of investment marks. Under what scenarios might Progressive need to raise...
Progressive's Clever Marketing Strategy
Seeking Alpha
- 2008-09-22
Rafael Grillo submits: Amidst jittery financial markets and government bailouts, the average Joe is still facing tough economic times and looking for ways to save money. In continuing with the discussion initiated in my post “May you live in interesting times”, we are looking for the companies that are building...
Dividend Aristocrats Handily Outperforming Main Indexes in 2008
Seeking Alpha
- 2008-08-31
David I. Templeton submits: Three of the major U.S. domestic indexes (Dow Jones Industrial Average, S&P 500 Index & Nasdaq Composite Index) had a positive return for the month of August. However, the S&P's Dividend Aristocrats did outperform the three aforementioned benchmarks in August and YTD through August 29, 2008.Nasdaq...
PFI: PowerShares Dynamic Financials Outperforms Its Peers
Seeking Alpha
- 2008-08-29
Don Dion submits: After a mixed round of earnings this summer and ongoing uncertainty about valuation, the financial sector remains plagued with enough speculation to keep many investors on the sideline. As more financial institutions are added to the “probation list” of U.S. regulators, investors have become more...
Sequoia Fund Reopens After 26 Years: A Look Inside
Seeking Alpha
- 2008-08-18
Warren Buffett is best known as the Chairman of Berkshire Hathaway (BRK.A)(BRK.B) and one of the richest men in the world. He is easily the greatest investor of the 20th century, if not of all time. Since 1965, he’s produced average annual gains of 21%. Put another way, a mere...
Dividend Investment Myths
Seeking Alpha
- 2008-08-12
Dividend Inc. submits: There is a commonly told myth that says that companies that pay a dividend misallocate funds that could be used to generate new revenue or grow the company. According to this myth the lack of growth in the company will keep the stock's price low...
Where Is the Growth in Vehicle Insurance?
Seeking Alpha
- 2008-08-07
Compete submits: Recently, Compete posted a blog interview with Jon Swallen, SVP of Research for TNS Media Intelligence. In the blog, Jon details the state of the auto insurance market, which included his view on growth opportunities within car & other vehicle insurance. Jon specifically addressed the growing importance...
The Progressive Corporation Announces 2008 Investor Relations Meeting
- 2008-06-04
MAYFIELD VILLAGE, Ohio -- The Progressive Corporation announced today that it will host a simultaneous webcast of its 2008 Investor Relations Meeting on Thursday, June 12, 2008, beginning at 9:00 a.m. eastern time. The meeting will last approximately three hours and will include a question and answer session following the...
Progressive Recommends Rejection of Below-Market "Mini-Tender Offer"
- 2008-04-28
MAYFIELD VILLAGE, Ohio -- The Progressive Corporation (NYSE: PGR) today said it has become aware of a "mini-tender offer" by TRC Capital Corporation TRC to purchase up to 5 million shares of Progressive's common stock at a price of $16.60 per share. Progressive cautions its stockholders that TRC's unsolicited offering...
A home run.(BRANDING)(The Progressive Corp. change its name to Progressive Field)(Brief article)
- 2008-03-01
[ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED]
Decision Makers
| Name (plus bio) | Position |
|---|---|
| Glenn M. Renwick | President & Chief Executive Officer |
| Brian J. Passell | Group President, Claims |
| John A. Barbagallo | President, Drive Group |
| Richard H. Watts | Group President, Sales & Service |
| Robert Williams | Group President, Agent Business |
| Brian Domeck | CFO |
| Charles E. Jarrett | Chief Legal Officer, Vice President & Secretary |
| Jeffrey W. Basch | Chief Accounting Officer & Vice President |
| Raymond M. Voelker | CIO |
| W. Thomas Forrester | CFO & Vice President |
| William M. Cody | Chief Investment Officer |
| Thomas A. King | Vice President & Treasurer |
| Linda Harris | Director, Media |
| Pat O'Malley | Director, Product Development |
| Brian A. Silva | General Manager, Commercial Auto Group |
| Christie Frey | Manager, Communications |
| Mariann Wojtkun Marshall | Manager, Finance |
| Tom Hollyer | Product Manager |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Peter B. Lewis | Chairman |
| Bernadine P. Healy MD | Board of Directors |
| Bradley T. Sheares PhD | Board of Directors |
| Charles A. Davis | Board of Directors |
| Donald B. Shackelford | Board of Directors |
| Jeffrey D. Kelly | Board of Directors |
| Milton N. Allen | Board of Directors |
| Norman S. Matthews | Board of Directors |
| Patrick H. Nettles PhD | Board of Directors |
| Philip A. Laskawy | Board of Directors |
| Stephen R. Hardis | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Progressive Casualty Insurance Company | President & Chief Executive Officer | Current |
| The Progressive Corporation | President & Chief Executive Officer | Current |
| The Progressive Corporation | Board of Directors | Current |
| Fiserv, Inc. | Board of Directors | Current |
| Progressive Casualty Insurance Company | Board of Directors | Current |
| UnitedHealth Group Incorporated | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Group President, Claims | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | President, Drive Group | Current |
| Progressive Casualty Insurance Company | Commercial Lines Group President | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Group President, Sales & Service | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Group President, Agent Business | Current |
| Organization | Position | Status |
|---|---|---|
| Progressive Casualty Insurance Company | Vice President and Chief Financial Officer | Current |
| The Progressive Corporation | CFO | Current |
| The Progressive Corporation | Manager, Direct Marketing | Former |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Chief Legal Officer, Vice President & Secretary | Current |
| Progressive Casualty Insurance Company | Vice President, Secretary & Chief Legal Officer | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Chief Accounting Officer & Vice President | Current |
| Progressive Casualty Insurance Company | Vice President & Chief Accounting Officer | Current |
| The Progressive Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | CIO | Current |
| Progressive Casualty Insurance Company | Chief Information Officer | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | CFO & Vice President | Current |
| The Progressive Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Chief Investment Officer | Current |
| Progressive Casualty Insurance Company | Chief Investment Officer | Current |
| The Progressive Corporation | Portfolio Manager | Former |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Vice President & Treasurer | Current |
| Progressive Casualty Insurance Company | Vice President & Treasurer | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Director, Media | Current |
| The Progressive Corporation | Director, Media | Former |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Director, Product Development | Current |
| The Progressive Corporation | Director, Product Development | Former |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | General Manager, Commercial Auto Group | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Manager, Communications | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Manager, Finance | Current |
| Progressive Casualty Insurance Company | Assistant Secretary | Current |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Product Manager | Current |
| Organization | Position | Status |
|---|---|---|
| Progressive Casualty Insurance Company | Chairman | Current |
| The Progressive Corporation | Chairman | Current |
| Organization | Position | Status |
|---|---|---|
| U.S.News & World Report | Columnist | Current |
| U.S. News & World Report, L.P. | Health Editor | Current |
| Organizedwisdom, LLC | Current | |
| Find Deals & Read Hotel | Current | |
| Invacare Corporation | Chairperson | Current |
| The Covington | Director | Current |
| Battelle Memorial Institute | Board of Directors | Current |
| Kentucky Corporation | Director | Current |
| Progressive Casualty Insurance Company | Board of Directors | Current |
| National City Corporation | Board of Directors | Current |
| Ashland, Inc. | Board of Directors | Current |
| The Progressive Corporation | Board of Directors | Current |
| Bee Magazine | Board of Directors | Current |
| The American National Red Cross | CEO | Former |
| The American National Red Cross | President | Former |
| American Heart Association, Inc. | President | Former |
| U.S. News & World Report, L.P. | Senior Writer | Former |
| U.S.News & World Report | Health Editor | Former |
| National Internet Health (Nih) | Director | Former |
| American College of Cardiology | Board of Directors | Former |
| Vassar College | Board of Directors | Former |
| Nhlbi | Board of Directors | Former |
| Invacare Corporation | Board of Directors | Former |
| Harvard Medical School | M.D. | Former |
| Vassar College | Bachelor's Degree | Former |
Former Chief Executive Officer of Reliant Pharmaceuticals, Inc. Former President, U.S. Human Health, Merck & Co., Inc. Dr. Sheares served as Chief Executive Officer of Reliant Pharmaceuticals, Inc., a pharmaceutical company with integrated sales, marketing and development expertise that marketed a portfolio of branded cardiovascular pharmaceutical products, from January 2007 through its acquisition by GlaxoSmithKline plc in December 2007. Prior to joining Reliant, Dr. Sheares served as President of U.S. Human Health, Merck & Co. from March of 2001 until July 2006. Prior to that time, he served as Vice President, Hospital Marketing and Sales for Merck’s U.S. Human Health business. Dr. Sheares joined Merck in 1987 as a research fellow in the Merck Research Laboratories and held a wide range of positions within Merck, in business development, sales, and marketing, before becoming Vice President in 1996. He is also a director of The Progressive Corporation and Covance Inc. Director since 2004 Age: 52
| Organization | Position | Status |
|---|---|---|
| Honeywell International Inc. | Board of Directors | Current |
| The Progressive Corporation | Board of Directors | Current |
| Progressive Casualty Insurance Company | Board of Directors | Current |
| Honeywell Aerospace | Board of Directors | Current |
| Covance, Inc. | Board of Directors | Current |
| IMS Health, Inc. | Board of Directors | Current |
| Honeywell Aerospace | Committee Member | Current |
| Reliant Pharmaceuticals, Inc. | Chief Executive Officer | Former |
| Merck & Co. Inc. | President, Human Health US | Former |
| Reliant Pharmaceuticals, Inc. | Board of Directors | Former |
Charles A. Davis has served as a director since our inception. Since June 2005, Mr. Davis has been a member and the Chief Executive Officer of Stone Point Capital LLC. From 1998 until May 2005, he was with MMC Capital, Inc., a subsidiary of Marsh & McLennan Companies, Inc., serving as the Chief Executive Officer from 1999 to 2005 and Chairman from 2002 to 2005. He also served as a Vice Chairman of Marsh & McLennan Companies, Inc. from 1999 to November 2004. Prior to joining MMC Capital in 1998, Mr. Davis spent 23 years at Goldman, Sachs & Co., where, among other positions, he served as head of Investment Banking Services worldwide, head of the Financial Services Industry Group, a General Partner, a Senior Director and a Limited Partner. Mr. Davis also is a director of Media General, Inc., The Hershey Company and The Progressive Corporation.
| Organization | Position | Status |
|---|---|---|
| Stone Point Capital LLC | Chief Executive Officer | Current |
| NYSE Group, Inc. | Current | |
| MMC Capital | Chairman | Current |
| Progressive Casualty Insurance Company | Board of Directors | Current |
| The Progressive Corporation | Board of Directors | Current |
| The Hershey Co. | Board of Directors | Current |
| AXIS Capital Holdings Limited | Board of Directors | Current |
| Media General, Inc. | Board of Directors | Current |
| MMC Capital | CEO | Former |
| MMC Capital | President | Former |
| The Goldman Sachs Group, Inc. | Senior Director, and a Limited Partner | Former |
| Goldman, Sachs & Co. | Former | |
| MMC Capital, Inc. | Former | |
| Merchants Bancshares, Inc. | Board of Directors | Current |
| Marsh & McLennan Companies, Inc. | Director | Former |
| University of Vermont | B.A. | Former |
| Organization | Position | Status |
|---|---|---|
| Diamond Hill Investment Group, Inc. | Board of Directors | Current |
| Progressive Casualty Insurance Company | Board of Directors | Current |
| Limited Brands, Inc. | Board of Directors | Current |
| The Progressive Corporation | Board of Directors | Current |
| State Savings Bank | Chief Executive Officer | Former |
| State Savings Bank | Chairman of The Board | Former |
| Fifth Third Bancorp | Board of Directors | Former |
| Organization | Position | Status |
|---|---|---|
| National City Corporation | Chief Financial Officer | Current |
| National City Mortgage Co. | Chairman | Current |
| National City Equity Partners, LLC | Chairman | Current |
| National City Corporation | Vice Chairman | Current |
| The Progressive Corporation | Board of Directors | Current |
| Progressive Casualty Insurance Company | Board of Directors | Current |
| National City Corporation | Executive Vice President | Former |
| National City Corporation | Management Assistant | Former |
| National City Equity Partners, LLC | Board of Directors | Former |
| The University of Akron | Master's Degree In Economics | Former |
| The Ohio State University | Bachelor's Degree In Business Administration | Former |
| Organization | Position | Status |
|---|---|---|
| The Progressive Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Gordon Brothers Group, LLC | Current | |
| Toys "R" Us, Inc. | Board of Directors | Current |
| Oneida Ltd. | Board of Directors | Current |
| SmartBargains, Inc. | Board of Directors | Current |
| Finlay Fine Jewelry Corporation | Board of Directors | Current |
| Henry Schein, Inc. | Board of Directors | Current |
| Progressive Casualty Insurance Company | Board of Directors | Current |
| Loyalty Lab, Inc. | Board of Directors | Current |
| The Progressive Corporation | Board of Directors | Current |
| Finlay Enterprises, Inc. | Board of Directors | Current |
| American Museum of Natural History | trustee | Former |
| Sunoco, Inc. | Board of Directors | Former |
| Harvard Business School | M.B.A. | Former |
| Princeton University | B.A. degree | Former |
Array
| Organization | Position | Status |
|---|---|---|
| Progressive Casualty Insurance Company | Board of Directors | Current |
| Axcelis Technologies, Inc. | Board of Directors | Current |
| Apptrigger, Inc. | Board of Directors | Current |
| The Progressive Corporation | Board of Directors | Current |
| Ciena Corporation | Director | Current |
| Optilink | President | Former |
| Optilink | Chief Financial Officer | Former |
| California Institute of Technology | Trustee | Former |
| Carrius Technologies, Inc. | Former | |
| DSC Communications Corporation | Former | |
| California Institute of Technology | Ph.D. in Physics | Former |
| Georgia Institute of Technology | BS in Physics | Former |
Philip A. Laskawy retired from Ernst & Young in September 2001, after having held several positions during his employment there from 1961 to 2001, including serving as chairman and chief executive officer from 1994 until his retirement in 2001. In 2006-2007, he served as chairman of the International Accounting Standards Committee Foundation, which sets accounting standards in more than 100 countries. Mr. Laskawy currently serves on the Boards of Directors of General Motors Corporation, Henry Schein, Inc., Lazard Ltd., and Loews Corporation.
| Organization | Position | Status |
|---|---|---|
| Fannie Mae | Chairman | Current |
| Loews Corporation | Board of Directors | Current |
| Capgemini S.A | Board of Directors | Current |
| Henry Schein, Inc. | Board of Directors | Current |
| Discover Financial Services LLC | Director | Current |
| The Progressive Corporation | Board of Directors | Current |
| General Motors Corporation | Board of Directors | Current |
| Ernst & Young | Chairman & Chief Executive Officer | Former |
| Organization | Position | Status |
|---|---|---|
| American Greetings Corporation | Chairman | Current |
| Marsh & McLennan Companies, Inc. | Chairman | Current |
| Nordson Corporation | Board of Directors | Current |
| The Progressive Corporation | Board of Directors | Current |
| Axcelis Technologies, Inc. | Board of Directors | Current |
| Lexmark International, Inc. | Board of Directors | Current |
| American Greetings Corporation | Board of Directors | Current |
| Ironwood Management Partners II, LLC | Board of Directors | Current |
| Lexmark International Middle East Fz LLC | Director | Current |
| Eaton Corporation | Chief Executive Officer | Former |
| Eaton Corporation | Chairman | Former |
| Axcelis Technologies, Inc. | Chairman | Former |
| Marsh & McLennan Companies, Inc. | Board of Directors | Former |
| STERIS Corporation | Board of Directors | Former |
| Princeton University | Master's Degree In Public and International Affairs | Former |
Executive News
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AT&T's Fixer-Upper Joins General Motors
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AT&T's Fixer-Upper To Join GM
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GM Names Former ATandT Chief as Chairman
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Ratings Roundup: Elwood, CIBC Re, Mapfre Praico, RenRe
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RenRe Names Progressive Board Member as CFO
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CORRECTED - UPDATE 3-Ex-AT&T CEO Whitacre to become new GM chairman
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RenRe names Nat City's Kelly as CFO
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RenaissanceRe Holdings Ltd. Announces that Jeffrey D. Kelly will succeed Fred R. Donner as...
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RenaissanceRe Holdings Ltd. Announces that Jeffrey D. Kelly will succeed Fred R. Donner as Chief Financial Officer
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RenaissanceRe Holdings names Jeffrey Kelly EVP, CFO, effective July 6 - Quick Facts
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RenaissanceRe Holdings Ltd. Announces that Jeffrey D. Kelly will succeed Fred R. Donner as Chief Financial Officer
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RenaissanceRe Holdings Ltd. Announces that Jeffrey D. Kelly will succeed Fred R. Donner as Chief Financial Officer
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Former AT&T CEO to become new GM chairman
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Former CEO of AT&T will lead new GM
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GM names former AT&T chief Whitacre as new chairman
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» Former AT&T CEO to lead GM
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Ex-AT&T CEO Whitacre to become new GM chairman
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Ex-AT&T CEO Whitacre to become new GM chairman
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UnitedHealth Group Announces Results of Annual Shareholder Meeting
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Take Control of Car Insurance Costs with Progressive
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Glass Door
Progressive Corporation
CEO Rating
President, CEO, and Director; Chairman and CEO, Progressive Casualty Insurance Company
39% Approve
IndustryTop Rated
