Fitch affirms Progressive

Fitch Ratings said it affirmed the AA- issuer default rating and A+ senior debt ratings of Progressive Corp.

Fitch said it has also affirmed the AA+ insurer financial strength rating of Progressive's operating subsidiaries.

The outlook is stable.

According to the agency, the ratings and outlook reflect Progressive's excellent operating performance, pricing and underwriting expertise, personal auto insurance franchise, modest catastrophe risk, conservative investment allocation and strong capital position.

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