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Progressive

Progressive had a big year: With revenues climbing 22% year-over-year, profits jumping 52%, and more than 4,000 new employees hired, the insurer shot up 13 spots on the Fortune 500. Progressive’s growth was aided by its commercial lines segment, which grew 20% year-over-year. The House that Flo Built also expanded its auto coverage with ridesharing titans Uber and Lyft. In early 2020, stay-at-home orders have dramatically lowered domestic traffic, and thus auto insurance claims. As a result CEO Tricia Griffith, the first woman named Fortune’s Businessperson of the Year, announced the company would refund its insured drivers 20% of their April and May premiums.
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