Progressive is owned by its shareholders, as it is a publicly-traded company. The biggest shareholders are The Vanguard Group, BlackRock Fund Advisors, and Wellington Management, which have a combined ownership stake of almost 20%, according to public records, as of Q1 2021.
Progressive was founded in 1937 by Joseph Lewis and Jack Green. In 1965, Peter B. Lewis, the son of Joseph Lewis, took over the company. Progressive then went public in 1971. For more information, check out WalletHub's full Progressive review.
This answer was first published on 04/19/23 and it was last updated on 04/27/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
Progressive is owned by its shareholders, as it is a publicly-traded company. The biggest shareholders are The Vanguard Group, BlackRock Fund Advisors, and Wellington Management, which have a combined ownership stake of almost 20%, according to public records, as of Q1 2021.
Who is the largest shareholder of Progressive Insurance? ›
Largest shareholders include Vanguard Group Inc, BlackRock Inc., State Street Corp, Jpmorgan Chase & Co, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Bank Of America Corp /de/, Wellington Management Group Llp, Massachusetts Financial Services Co /ma/, VFINX - Vanguard 500 Index Fund Investor Shares, ...
Are Geico and Progressive owned by the same company? ›
Is Geico owned by Progressive? Geico is not owned by Progressive. Berkshire Hathaway owns Geico, while the Progressive Corporation is an independent company. Progressive is the second-largest auto insurance company in the U.S., according to the NAIC.
Does Allstate own Progressive? ›
No, Progressive and Allstate are separate companies. The Progressive Corporation and The Allstate Corporation are both independent, publicly held companies.
Who did Progressive merge with? ›
Progressive Completes Acquisition of Protective Insurance | Progressive.
Who is the parent company of Progressive? ›
Progressive is owned by its shareholders, as it is a publicly-traded company. The biggest shareholders are The Vanguard Group, BlackRock Fund Advisors, and Wellington Management, which have a combined ownership stake of almost 20%, according to public records, as of Q1 2021.
Is GEICO higher than Progressive? ›
Both Geico and Progressive offer competitive average premiums for drivers, but if cost is your primary consideration, Geico has the edge. Its average rates tend to be lower than the average rates offered by Progressive, and the company's extensive discount list may help you save even more.
Who is cheaper, Allstate or Progressive? ›
We found that Progressive is more affordable than Allstate, with an average monthly cost of $104. Allstate's average was $170 per month.
Does Liberty Mutual own Progressive? ›
No, Liberty Mutual and Progressive aren't the same company. Liberty Mutual is the country's sixth largest car insurance provider, and Progressive is the third largest.
Why is Progressive so expensive? ›
If you buy directly from a Progressive company, your car insurance price reflects the cost of staffing and maintaining the sales centers, and a larger portion of our marketing costs.
Tricia GriffithPresident & Chief Executive Officer
She held several managerial positions in the Claims division before being named Chief Human Resources Officer in 2002.
Who owns Liberty insurance? ›
The company was founded as a mutual company, a structure in which an insurance company is owned by its policyholders.
Are Nationwide and Progressive the same company? ›
Both Nationwide and Progressive have advantages and disadvantages for certain drivers — and despite some misconceptions, Nationwide and Progressive are not the same company.
Who bought out GEICO? ›
GEICO is an indirect, wholly owned subsidiary of Berkshire Hathaway, Inc.
Who is the parent company of GEICO? ›
In 1996, GEICO became a wholly owned subsidiary of Berkshire Hathaway, headed by Warren Buffett, one of the country's most successful investors. For the past several years, Fortune magazine has named Berkshire's property-casualty insurance operation the most admired in the country.
Who is the majority owner of GEICO? ›
A wholly owned subsidiary of Berkshire Hathaway, Inc., GEICO has assets of more than $32 billion.
Did Allstate buy GEICO? ›
No, Geico is not owned by Allstate. Geico is owned by the investment corporation Berkshire Hathaway. Allstate is a publicly-owned company.
