A.M. Best has lowered the financial strength rating of the Progressive Casualty Pool to A+ from A++, reflecting the group’s downturn in its operating earnings, intense price competition in its predominant personal automobile line, increased loss reserve risk and the expectation of modest operating returns. Progressive continues to operate with above-average operating leverage and capital strength that falls below A.M. Best’s capitalization standards for a Superior rating.
Was this article valuable?
Here are more articles you may enjoy.
Stepbrother Suspect in Cruise Ship Death Says He Doesn’t Remember Anything 
Three Top P/C Insurers Account for Most of Insurance AI Patents 
Former CEO of Nonprofit P/C Statistical Agent Sentenced for Stealing Millions 
FBI Involved After Two Florida Injury Lawyers Go Missing From Fishing Trip From This Issue
