Progressive Corp. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis

April 2024 | 50 pages | ID: P2EA9D68399BEN
BAC Reports

Abstracts

Progressive Corp. Fundamental Company Report provides a complete overview of the company’s affairs. All available data is presented in a comprehensive and easily accessed format. The report includes financial and SWOT information, industry analysis, opinions, estimates, plus annual and quarterly forecasts made by stock market experts. The report also enables direct comparison to be made between Progressive Corp. and its competitors. This provides our Clients with a clear understanding of Progressive Corp. position in the Industry.

• The report contains detailed information about Progressive Corp. that gives an unrivalled in-depth knowledge about internal business-environment of the company: data about the owners, senior executives, locations, subsidiaries, markets, products, and company history.
• Another part of the report is a SWOT-analysis carried out for Progressive Corp.. It involves specifying the objective of the company's business and identifies the different factors that are favorable and unfavorable to achieving that objective. SWOT-analysis helps to understand company’s strengths, weaknesses, opportunities, and possible threats against it.
• The Progressive Corp. financial analysis covers the income statement and ratio trend-charts with balance sheets and cash flows presented on an annual and quarterly basis. The report outlines the main financial ratios pertaining to profitability, margin analysis, asset turnover, credit ratios, and company’s long-term solvency. This sort of company's information will assist and strengthen your company’s decision-making processes.
• In the part that describes Progressive Corp. competitors and the industry in whole, the information about company's financial ratios is compared to those of its competitors and to the industry. The unique analysis of the market and company’s competitors along with detailed information about the internal and external factors affecting the relevant industry will help to manage your business environment. Your company’s business and sales activities will be boosted by gaining an insight into your competitors’ businesses.
• Also the report provides relevant news, an analysis of PR-activity, and stock price movements. The latter are correlated with pertinent news and press releases, and annual and quarterly forecasts are given by a variety of experts and market research firms. Such information creates your awareness about principal trends of Progressive Corp. business.

About Progressive Corp.

The Progressive Corporation, through its subsidiaries, provides personal and commercial automobile insurance, and other specialty property-casualty insurance products and related services in the United States. The company’s property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles and uninsured and underinsured bodily injury, and liability to others for personal injury or property damage arising out of the use of those vehicles. Its non-insurance subsidiaries generally support its insurance and investment operations.

The company offers personal and commercial property-casualty insurance products primarily related to motor vehicles. It writes personal auto insurance in all 50 of the United States and in the District of Columbia. It also writes personal auto insurance in Australia and Massachusetts. Its personal auto management group is organized by state into four geographic regions in the United States, plus a region for Australia. It writes the majority of its special lines products in all 50 states.

The company’s direct sales and customer service groups, located at call centers in Mayfield Village, Ohio; Austin, Texas; Tampa, Florida; Sacramento, California; Tempe, Arizona; and Colorado Springs, Colorado, support its policy servicing, agency distribution, and claims operations.

Personal Lines

The Personal Lines segment writes insurance for personal autos and recreational and other vehicles. This business generally offers approximately one program in a single state, with each program targeted to a specific distribution channel, market, or customer group. The company’s specialty personal lines products include insurance for motorcycles, ATVs, RVs, mobile homes, watercraft, snowmobiles, and similar items.

The Personal Lines business is either generated by independent agents and brokers or written directly online or by phone. The Agency business includes business written by its network of approximately 30,000 independent insurance agencies located throughout the United States, as well as brokerages in New York and California. These independent insurance agents and brokers have the ability to place business with the company Progressive for specified insurance coverages within prescribed underwriting guidelines, subject to compliance with company-mandated procedures. The Agency business also writes through strategic alliance business relationships with other insurance companies, financial institutions, and national agencies. The Direct business includes business written directly by the company online and over the phone.

Progressive Home Advantage, its offering which combines a Progressive auto policy with a homeowner’s or renter’s policy, underwritten by one of three unaffiliated insurance carriers, is available to agency customers in 41 states and to direct customers in 48 states and the District of Columbia. The company also offers a personal umbrella insurance product in 30 states through certain independent agents and to direct business customers via telephone.

Commercial Auto

The Commercial Auto business writes primary liability and physical damage insurance for automobiles and trucks owned by small businesses. The majority of its Commercial Auto customers insure three or fewer vehicles. The Commercial Auto business, which is primarily distributed through the independent agency channel, operates in the business auto and specialty truck markets. The business auto market includes autos, vans, and pick-up trucks used by artisans, such as contractors, landscapers, and plumbers, and a variety of other small businesses. The remainder is in the specialty truck commercial auto market, which includes dump trucks, logging trucks, tow trucks, local cartage, and other short-haul commercial vehicles.

Other Indemnity Businesses

The company’s other indemnity businesses primarily include writing professional liability insurance for community banks, principally directors and officers liability insurance. The program, sponsored by the American Bankers Association (ABA), insures approximately 1,600 banks, representing every state. In addition, its other indemnity businesses include managing its run-off businesses.

Service Businesses

The company’s service businesses provide insurance-related services. Its principal service business is providing policy issuance and claims adjusting services for the commercial auto insurance procedures/plans (CAIP), which are state-supervised plans serving the involuntary market in 43 states.

The company’s service businesses also include its alliance with three select homeowner insurance companies. Through Progressive Home Advantage, the company acts as an agent to offer new and existing customers home, condo, and renters insurance underwritten by these homeowner’s insurance companies. This program is available to its Personal Lines customers in 48 states and the District of Columbia.

Claims

The company manages its claims handling on a companywide basis through approximately 370 claims offices located throughout the United States. In addition, it has in operation 54 centers, in 41 metropolitan areas across the country that provide its concierge level claims service.

History

The Progressive Corporation was founded in 1965.

The above Company Fundamental Report is a half-ready report and contents are subject to change.
It means that we have all necessary data in our database to prepare the report but need 2-3 days to complete it. During this time we are also updating the report with respect to the current moment. So, you can get all the most recent data available for the same price. Please note that preparation of additional types of analyses requires extra time.

Contents

RESEARCH METHODOLOGY

DISCLAIMER

1. PROGRESSIVE CORP. COMPANY PROFILE

1.1. Key facts
1.2. Financial Performance
1.3. Key Executives
1.4. Ownership and Major Holders
1.5. Company History

2. PROGRESSIVE CORP. BUSINESS OVERVIEW

2.1. Business Description
2.2. Major Products and Services
2.3. Markets and Sales Activities
2.4. Locations, Subsidiaries, Operating Units

3. PROGRESSIVE CORP. SWOT ANALYSIS

3.1. Overview
3.2. Strengths
3.3. Weaknesses
3.4. Opportunities
3.5. Threats

4. PROGRESSIVE CORP. FINANCIAL ANALYSIS

4.1. Financial Statements
4.1.1. Income Statement
4.1.2. Balance Sheet
4.1.3. Cash Flow
4.2. Financial Ratios
4.2.1. Profitability
4.2.2. Margin Analysis
4.2.3. Asset Turnover
4.2.4. Credit Ratios
4.2.5. Long-Term Solvency
4.2.6. Growth Over Prior Year
4.2.7. Financial Ratios Charts
4.3. Stock Market Snapshot

5. PROGRESSIVE CORP. COMPETITORS AND INDUSTRY ANALYSIS

5.1. Progressive Corp. Direct Competitors
5.2. Comparison of Progressive Corp. and Direct Competitors Financial Ratios
5.3. Comparison of Progressive Corp. and Direct Competitors Stock Charts
5.4. Progressive Corp. Industry Analysis
5.4.1. Industry Snapshot
  5.4.2. Progressive Corp. Industry Position Analysis

6. PROGRESSIVE CORP. NEWS & EVENTS

6.1. News & PR Activity Analysis
6.2. IR Corporate News
6.3. Marketing News
6.4. Corporate Events

7. PROGRESSIVE CORP. EXPERTS REVIEW¹

7.1. Experts Consensus
7.2. Experts Revisions

8. PROGRESSIVE CORP. ENHANCED SWOT ANALYSIS²

9. UNITED STATES PESTEL ANALYSIS²

9.1. Political Factors
9.2. Economic Factors
9.3. Social Factors
9.4. Technological Factors
9.5. Environmental Factors
9.6. Legal Factors

10. PROGRESSIVE CORP. IFE, EFE, IE MATRICES²

10.1. Internal Factor Evaluation Matrix
10.2. External Factor Evaluation Matrix
10.3. Internal External Matrix

11. PROGRESSIVE CORP. PORTER FIVE FORCES ANALYSIS²

12. PROGRESSIVE CORP. VRIO ANALYSIS²

APPENDIX: RATIO DEFINITIONS

LIST OF FIGURES

Progressive Corp. Annual Revenues in Comparison with Cost of Goods Sold and Gross Profit
Profit Margin Chart
Operating Margin Chart
Return on Equity (ROE) Chart
Return on Assets (ROA) Chart
Debt to Equity Chart
Current Ratio Chart
Progressive Corp. 1-year Stock Charts
Progressive Corp. 5-year Stock Charts
Progressive Corp. vs. Main Indexes 1-year Stock Chart
Progressive Corp. vs. Direct Competitors 1-year Stock Charts
Progressive Corp. Article Density Chart

1 – Data availability depends on company’s security policy.
2 – These sections are available only when you purchase a report with appropriate additional types of analyses.
The complete financial data is available for publicly traded companies.

List Of Tables

LIST OF TABLES

Progressive Corp. Key Facts
Profitability
Management Effectiveness
Income Statement Key Figures
Balance Sheet Key Figures
Cash Flow Statement Key Figures
Financial Performance Abbreviation Guide
Progressive Corp. Key Executives
Progressive Corp. Major Shareholders
Progressive Corp. History
Progressive Corp. Products
Revenues by Segment
Revenues by Region
Progressive Corp. Offices and Representations
Progressive Corp. SWOT Analysis
Yearly Income Statement Including Trends
Income Statement Latest 4 Quarters Including Trends
Yearly Balance Sheet Including Trends
Balance Sheet Latest 4 Quarters Including Trends
Yearly Cash Flow Including Trends
Cash Flow Latest 4 Quarters Including Trends
Progressive Corp. Profitability Ratios
Margin Analysis Ratios
Asset Turnover Ratios
Credit Ratios
Long-Term Solvency Ratios
Financial Ratios Growth Over Prior Year
Progressive Corp. Capital Market Snapshot
Progressive Corp. Direct Competitors Key Facts
Direct Competitors Profitability Ratios
Direct Competitors Margin Analysis Ratios
Direct Competitors Asset Turnover Ratios
Direct Competitors Credit Ratios
Direct Competitors Long-Term Solvency Ratios
Industry Statistics
Progressive Corp. Industry Position
Company vs. Industry Income Statement Analysis
Company vs. Industry Balance Sheet Analysis
Company vs. Industry Cash Flow Analysis
Company vs. Industry Ratios Comparison
Progressive Corp. Consensus Recommendations¹
Analyst Recommendation Summary¹
Price Target Summary¹
Experts Recommendation Trends¹
Revenue Estimates Analysis¹
Earnings Estimates Analysis¹
Historical Surprises¹
Revenue Estimates Trend¹
Earnings Estimates Trend¹
Revenue Revisions¹

ANALYSIS FEATURES

SWOT Analysis

SWOT, which stands for Strengths, Weaknesses, Opportunities and Threats, is an analytical framework that identifies the internal and external factors that are favorable and unfavorable for a company.

Enhanced SWOT Analysis

Enhanced SWOT is a 3×3 grid that arranges strengths, weaknesses, opportunities and threats into one scheme:

• How to use the strengths to take advantage of the opportunities?
• How to use the strengths to reduce likelihood and impact of the threats?
• How to overcome the weaknesses that obstruct taking advantage of the opportunities?
• How to overcome the weaknesses that can make the threats a reality?

Upon answering these questions a company can develop a project plan to improve its business performance.

PESTEL Analysis

PESTEL (also termed as PESTLE) is an ideal tool to strategically analyze what influence different outside factors – political, economic, sociocultural, technological, environmental and legal – exert on a business to later chart its long term targets.

Being part of the external analysis when carrying out a strategic assessment or performing a market study, PESTEL gives an overview of diverse macro-environmental factors that any company should thoughtfully consider. By perceiving these outside environments, businesses can maximally benefit from the opportunities while minimizing the threats to the organization.

Key Factors Examined by PESTEL Analysis:

• Political – What opportunities and pressures are brought by political bodies and what is the degree of public regulations’ impact on the business?
• Economic – What economic policies, trends and structures are expected to affect the organization, what is this influence’s degree?
• Sociological – What cultural and societal aspects will work upon the demand for the business’s products and operations?
• Technological – What impact do the technological aspects, innovations, incentives and barriers have on the organization?
• Environmental – What environmental and ecological facets, both locally and farther afield, are likely to predetermine the business?
• Legal – What laws and legislation will exert influence on the style the business is carried out?

IFE, EFE, IE Matrices

The Internal Factor Evaluation matrix (IFE matrix) is a strategic management tool helping audit or evaluate major weaknesses and strengths in a business’s functional areas. In addition, IFE matrix serves as a basis for identifying and assessing relationships amongst those areas. The IFE matrix is utilised in strategy formulation.

The External Factor Evaluation matrix (EFE matrix) is a tool of strategic management that is typically utilised to assess current market conditions. It is an ideal instrument for visualising and prioritising the threats and opportunities a firm is facing.

The essential difference between the above mentioned matrices lies in the type of factors incorporated in the model; whilst the latter is engaged in internal factors, the former deals exceptionally with external factors – those exposed to social, political, economic, legal, etc. external forces.

Being a continuation of the EFE matrix and IFE matrix models, the Internal External matrix (IE matrix) rests upon an investigation of external and internal business factors integrated into one suggestive model.

Porter Five Forces Analysis

The Porter’s five forces analysis studies the industry of operation and helps the company find new sources of competitive advantage. The analysis surveys an industry through five major questions:

1. What composes a threat of substitute products and services?
2. Is there a threat of new competitors entering the market?
3. What is the intensity of competitive rivalry?
4. How big is the bargaining power of buyers?
5. How significant is the bargaining power of suppliers?

VRIO Analysis

VRIO stands for Value, Rarity, Imitability, Organization. This analysis helps to evaluate all company’s resources and capabilities and bring them together into one aggregate table that includes:

• Tangible resources
  • Financial
  • Physical
  • Technological
  • Organizational
• Intangible resources
  • Human
  • Innovation and Creativity
  • Reputation
• Organizational capabilities

The result of the analysis gives a clear picture of company’s competitive and economic implications, answering the questions if the resources mentioned above are:

• Valuable?
• Rare?
• Costly to imitate?
• Organized properly?