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Progressive
PGR · NYSEInsurance
The economic chain
Follow the chain left → right, from inputs to end demand. Tap any company to trace its links.
Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
Premiums &capitalthe money flowing inBrokers &distributionwho places the coverInsurerswho carries the riskReinsuranceinsuring the insurersClaims,payouts &…where the money goesPolicyholderswho is protectedD&HDrivers & homeownersC&BCapital & bondholdersSRState regulatorsDIRDirect channelAGTIndependent agentsSNPSnapshot telematicsPGRProgressiveHOMProgressive Home (ASI)REProperty cat reinsurersC&RNClaims & repair networkFLTInvestment portfolioHHHouseholdsBIZSmall businesses
Company details
Market cap
$121B
P/E ratio
11×
Div yield
~6.8%
EPS (2025)
$19.23
Net income
$11.3B
Combined ratio
87.4
Net premiums written
$83B
Policies in force
38.6M
In plain English
Progressive is one of the largest US auto insurers. It pioneered usage-based pricing — its Snapshot telematics program has fed nearly two decades of driving data into its risk models — and sells the same policies two ways: direct online and by phone, and through 40,000+ independent agents. Auto is the engine (~79% of premiums); it also writes commercial-vehicle cover for small fleets and, since buying ASI/ARX, homeowners and renters insurance under Progressive Home.
In simple terms
What Progressive really sells
Progressive is one of the largest US auto insurers. It pioneered usage-based pricing — its Snapshot telematics program has fed nearly two decades of driving data into its risk models — and sells the same policies two ways: direct online and by phone, and through 40,000+ independent agents. Auto is the engine (~79% of premiums); it also writes commercial-vehicle cover for small fleets and, since buying ASI/ARX, homeowners and renters insurance under Progressive Home.
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Risk read
Moderate
SteadierMore speculative
Why this rating?