Mayfield Village, Ohio-based Progressive Corp. announced that it purchased 200,000 of its common shares, $1 par value, from Peter B. Lewis, the company’s chairman of the board, through an entity owned and controlled by Lewis.
The purchase price for the shares was $71 per share, representing the market price of the shares at the time of the transaction. This transaction is part of Progressive’s previously announced share repurchase program. Proceeds of the sale are for Lewis’s personal use.
Was this article valuable?
Here are more articles you may enjoy.
Tornado Alley’s on the Move and Creating New Risk Concerns, Modeler Says 
Seven People Charged in $100M Workers’ Compensation Fraud Operation in Florida 
Homeowners Insurance Market Reaches ‘Fragmented Phase,’ Says S&P GMI 
Can Reinsurers Maintain Underwriting Discipline or Will ‘Irrational’ Competition Return? 
