Progressive is owned by its shareholders, as it is a publicly-traded company. The biggest shareholders are The Vanguard Group, BlackRock Fund Advisors, and Wellington Management, which have a combined ownership stake of almost 20%, according to public records, as of Q1 2021.
Progressive was founded in 1937 by Joseph Lewis and Jack Green. In 1965, Peter B. Lewis, the son of Joseph Lewis, took over the company. Progressive then went public in 1971. For more information, check out WalletHub's full Progressive review.
This answer was first published on 04/19/23 and it was last updated on 04/27/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
Progressive is owned by its shareholders, as it is a publicly-traded company. The biggest shareholders are The Vanguard Group, BlackRock Fund Advisors, and Wellington Management, which have a combined ownership stake of almost 20%, according to public records, as of Q1 2021.
Who did Progressive merge with? ›
Progressive Completes Acquisition of Protective Insurance.
Who are the shareholders of Progressive Insurance? ›
Largest shareholders include Vanguard Group Inc, BlackRock Inc., Jpmorgan Chase & Co, State Street Corp, Wellington Management Group Llp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Bank Of America Corp /de/, Massachusetts Financial Services Co /ma/, VFINX - Vanguard 500 Index Fund Investor Shares, ...
Are Geico and Progressive owned by the same company? ›
Geico is not owned by Progressive. Berkshire Hathaway owns Geico, while the Progressive Corporation is an independent company. Progressive is the second-largest auto insurance company in the U.S., according to the NAIC.
Can I trust Progressive? ›
Below you can review rating scores from reputable research agencies: J.D. Power 2023 Insurance Company Rating: Progressive was just below the industry standard in all regions, sitting around 10 points under the national average.
Are Liberty Mutual and Progressive the same company? ›
No, Liberty Mutual and Progressive aren't the same company.
Is Progressive related to Allstate? ›
No, Progressive is not the same as Allstate. Progressive is not affiliated with Allstate in any way, though the two companies are both property and casualty insurers that offer similar services and coverage options to consumers.
Why are Progressive rates so low? ›
Progressive is so cheap because it offers a wide variety of discounts and gives consumers tools to acheive the best rates possible, such as Progressive's price comparison tool and their Name Your Price program.
Who is the CEO of Progressive? ›
Tricia GriffithPresident & Chief Executive Officer
Tricia joined Progressive as a Claims Representative in 1988 and has served in many key leadership positions during her tenure.
Where is Progressive Insurance headquartered? ›
Mayfield is a village in eastern Cuyahoga County, Ohio, United States. A suburb of Cleveland, it is part of the Cleveland metropolitan area. The population was 3,356 at the 2020 census.
WikipediaTarget Audience: Progressive Insurance's target audience is men and women ages 31-45 with a focus on innovation and customer experience.
Does Progressive have subsidiaries? ›
The Progressive Corporation, an insurance holding company, has insurance and non-insurance subsidiaries and affiliates (references in this Item to subsidiaries includes affiliates as well).
Who is cheaper than Progressive? ›
Geico and USAA are among the insurance companies that are cheaper than Progressive.
Why is Progressive so expensive? ›
If you buy directly from a Progressive company, your car insurance price reflects the cost of staffing and maintaining the sales centers, and a larger portion of our marketing costs.
Does Warren Buffett Own GEICO insurance? ›
1996 – Warren Buffett purchases outstanding GEICO stock, making GEICO a subsidiary of Berkshire Hathaway, Inc. 1999 – The beloved GEICO Gecko® makes his debut in a wildly popular GEICO ad campaign.
Is Progressive and Allstate the same company? ›
No, Progressive is not the same as Allstate. Progressive is not affiliated with Allstate in any way, though the two companies are both property and casualty insurers that offer similar services and coverage options to consumers.
Is Progressive bigger than Allstate? ›
Allstate and Progressive are also two of the largest car insurance companies in the country. According to the National Association of Insurance Commissioners (NAIC), Progressive is the third-largest auto insurance company in the U.S., and Allstate is the fourth-largest.
Who actually owns insurance companies? ›
A mutual insurance company is one that is owned by its policyholders, not by outside investors. This makes it different from a stock insurance company, which is owned by shareholders and traded publicly. Both kinds of companies are in the business of selling insurance.
