Fitch affirms Progressive

Fitch Ratings said it affirmed Progressive Corp.'s ratings including the A+ issuer default rating, the A senior debt ratings and the BBB+ junior subordinated debt rating.

Fitch said it also affirmed Progressive's operating subsidiaries' insurer financial strength rating at AA.

The outlook is stable.

The agency said its ratings on Progressive are based on the company's excellent operating performance, pricing and underwriting expertise, personal auto insurance franchise, modest catastrophe risk, conservative investment allocation and strong risk-based capital position.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.