PROGRESSIVE CORP
Ticker: PGRFinancialsProperty & Casualty InsuranceS&P 500The business
Progressive Corporation (NYSE: PGR) operates as a major property-casualty insurance holding company serving consumers, agents, and business owners across the United States. The company maintains a comprehensive website at progressive.com where customers can obtain quotes and manage policies online.
Progressive's core business encompasses personal and commercial auto insurance, personal residential property insurance, and specialty coverage for motorcycles, watercraft, and recreational vehicles. The company also provides business-related general liability and commercial property insurance primarily for small businesses, workers' compensation insurance for the transportation industry, and other specialty property-casualty products. As of December 31, 2025, Progressive employed approximately 70,000 people and operated throughout all 50 states and the District of Columbia.
The company operates through two primary reportable segments. Personal Lines accounted for 87 percent of total net premiums written in 2025 and includes personal auto insurance, special lines products, and personal residential property insurance. Commercial Lines represented 13 percent of premiums written and focuses on commercial auto coverage, business owners' policies, and workers' compensation. Progressive ranked second in the U.S. private passenger auto insurance market and first in the commercial auto market as of 2024.
Progressive distributes products through both agency and direct channels. The agency channel includes relationships with more than 40,000 independent insurance agencies nationwide, while the direct channel operates through online platforms and telephone services. The company's investment portfolio reached $97.4 billion in fair value at year-end 2025.
Key competitive advantages include proprietary usage-based insurance programs such as Snapshot for personal auto and Smart Haul for commercial vehicles, which leverage billions of driving miles of data. The company maintains substantial intellectual property including patents on Name Your Price functionality, multi-product quoting systems, and chatbot implementations. Progressive's Destination Era strategy focuses on bundling multiple insurance products and partnering with unaffiliated carriers to provide comprehensive financial solutions to customers seeking integrated coverage options.
- Sector
- Financials
- Industry
- Property & Casualty Insurance
- HQ
- MAYFIELD VILLAGE, OH
- FY end
- 12-31
- CIK
- 80661
- SIC
- 6331
Ownership
Who holds PROGRESSIVE CORP — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30
Top fund holders
| Fund | % of fund | Value |
|---|---|---|
| VANGUARD TOTAL STOCK MARKET INDEX FUND VTI · VANGUARD INDEX FUNDS | 0.18% | $4.05B |
| VANGUARD 500 INDEX FUND VOO · VANGUARD INDEX FUNDS | 0.20% | $3.31B |
| iShares Core S&P 500 ETF IVV · iShares Trust | 0.20% | $1.76B |
| State Street(R) SPDR(R) S&P 500(R) ETF Trust SPY | 0.20% | $1.55B |
| Investment Co of America AIVSX | 0.79% | $1.46B |
Superinvestors in PROGRESSIVE CORP
Share of each manager's reported 13F portfolio.
Bonds held by funds
Funds report holding 16 issues of PROGRESSIVE CORP's debt, $1.08B at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 4.50%, maturing 2027–2052.
| Issue | Coupon | Matures | Funds | Fund-held |
|---|---|---|---|---|
| PROGRESSIVE CORP SR UNSEC 5.15% 03-26-36 | 5.150% | 2036-03-26 | 86 | $311.68M |
| PGR 4.95 06/15/33 | 4.950% | 2033-06-15 | 46 | $163.68M |
| Progressive Corp/The | 4.600% | 2031-03-26 | 65 | $140.45M |
| Progressive Corp/The | 3.000% | 2032-03-15 | 49 | $98.17M |
| Progressive Corp/The | 3.200% | 2030-03-26 | 44 | $78.18M |
| Progressive Corp/The | 4.000% | 2029-03-01 | 43 | $55.97M |
| Progressive Corp/The | 4.125% | 2047-04-15 | 50 | $46.96M |
| PROGRESSIVE CORP | 6.250% | 2032-12-01 | 29 | $33.53M |
| Progressive Corp/The | 3.700% | 2052-03-15 | 37 | $33.38M |
| Progressive Corp/The | 4.200% | 2048-03-15 | 38 | $25.94M |
The 10 largest by fund-held value, of 16.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.
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