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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 catapulted up 68 spots on the Global 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 dramatically lowered domestic traffic, and thus auto insurance claims. As a result, CEO Tricia Griffith—who, in 2018, was the first woman to be named Fortune’s Businessperson of the Year—announced that the company would refund its insured drivers 20% of their April and May premiums.
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