progressive

Fortune Staff

This year’s Fortune 500 marks the 68th running of the list.

Fortune 500

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

Global 500

Building a culture of trust and transparency is essential to help everyone thrive, especially in rocky economic times.

100 Best Companies to Work For

The 25th Fortune World’s Most Admired Companies list suggests that tech giants’ peers respect them as much as ever.

World's Most Admired Companies

100 Best Workplaces for Women

100 Best Workplaces for Millennials

Best Workplaces in Financial Services and Insurance

The 300 companies on this list are transforming industries from the inside out.

America's Most Innovative Companies

Previous Rank

Revenues ($M)

Revenue Percent Change

Profits ($M)

Profits Percent Change

Assets ($M)

Employees

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 spot

Progressive | 2022 Global 500

legacy

Key Financials (Last Fiscal Year)

Total Stockholder Equity ($M)

Profit Ratios

Profit as % of Revenues

Profits as % of Assets

Profits as % of Stockholder Equity

Progressive

Progressive | 2022 Global 500 | Fortune

Michael Bush, Chief Executive Oﬃcer, Great Place To Work,
Brian Doubles, President and CEO, Synchrony,
Tricia Griffith, President and CEO, Progressive Insurance,
Jim Kavanaugh, Co-founder and CEO, World Wide Technology,
Alan Murray, Chief Executive Officer, FORTUNE

Great Places To Work Series: What it Takes to Become Great

Conferences

Michael Bush, Great Place To Work
Brian Doubles,  Synchrony 
Tricia Griffith, Progressive Insurance 
Jim Kavanaugh, World Wide Technology 

Great Places To Work Series: What it takes to become great

Michael Bush, Chief Executive Oﬃcer, Great Place To Work
Brian Doubles, President and CEO, Synchrony 
Tricia Griffith, President and CEO, Progressive Insurance 
Jim Kavanaugh, Co-founder and CEO, World Wide Technology 


Michael Bush, Great Place To Work
Brian Doubles,  Synchrony 
Tricia Griffith, Progressive Insurance 
Jim Kavanaugh, World Wide Technology 


Tricia Griffith talks about diversifying the Progressive board and empowering all employees.

Leadership Next: Progressive CEO, Tricia Griffith

Leadership

that was actually my question. Alan, that was exactly my question. So thank you know, you didn't, that's the thing I was most curious about is how do you think about the future? Welcome to Leadership next the podcast about the changing rules of business leadership. I'm Alan Murray and I'm Ellen McGirt. I mean the only reason that I sit here as a Ceo is because my predecessor made a bet on me and gave me the head of HR job in 2002 with zero HR experience. And then I knew it was my like I had to use that position of power to make sure we really made a difference in both women people of color. And that's been that's been my platform for my most of my leaders. Life Lawton was my partner in making sure we got the board diversity we wanted. And so yeah, we have 50, 50 women and men um and about 13% people of color. I'm really proud of that because one is the right thing to do to the discussions in our boardroom over the last several years as we've changed, the diversity has been amazing. I think most Ceos when they're thinking about board members want sitting ceos and that's fabulous. But there's a supply demand inequality there. That's not gonna happen if you want a woman Ceo to sit on your board. There's only so many of us and um that's not gonna happen. People need to be much more open minded. I think about my role as the chief operating officer, which is the role prior to this? I had just as much operational experience and I would have been great at board. It was like I was this person who no one wanted to dance with until I had the ceo, uh, you know, the, the acronym after my name. Then all then the calls started, everyone, everyone wanted it. After that. I have six Children. So as a young mom, I had to take vacation time to get to a pair of teacher conference. That should never happen again. Take that, take your lunch at four o'clock. So I think if we do this right and I believe we will, it's can be really beneficial for women to be able to see that balance, that, that we're all striving for. It's all about you treat your employees well and they feel like they can be the whole, their whole selves, they feel empowered and valued. That's gonna, you know, show with the way they treat our customers, our customers are gonna reward us with loyalty and retention. And then the share holders win. So to me, it's a nice virtuous cycle

One of the board members said to me " So you want to be a CEO" and I said " No I want to be CEO of Progressive ." [ MUSIC ] Three years before I was named CEO during a performance evaluation My boss, my predecessor Glenn Renwick said, we're considering a few people for the CEO role. Would you be interested? And I knew what I should've said. I should've said, absolutely, I'm in 100 %. What I did say was, Glenn, I'm not sure. I need to think about it. I need to pray about it. I need to go home and talk to my family. I still had two of my six children were at home. And so I did that and everyone was so supportive, when about a week later I came back and said to Glen I would love to compete for the job. I started out in 1988 as a claims rep trainee And that really meant crawling under cars meeting with injured people. So my first love being claims is really about taking care of the customer. And then my first big move into the C suite was the head of HR. I was the Chief Human Resource Officer from 2002 until 2008. And that was really pivotal in terms of understanding how important culture is. So looking at those two constituencies, if you've got great service and care about your customers and you have great employees who love to come to work, that equals happy shareholders. And so having those three constituencies kinda thread through each role I had has been really important. [ MUSIC ] Really the biggest challenge I've had to overcome is comparing myself to others, especially early in my career. I would look at somebody that had a different skill that maybe I wanted to possess instead of looking at the skills that I brought to different jobs. I often reflect on that Teddy Roosevelt quote that says, comparison is the thief of joy. And I have to repeat that sometimes. But yeah, stop comparing yourself and just make sure you bring your whole self to work every day and you'll be successful. [ BLANK_AUDIO ]

Year	Revenues ($M)	Profits ($M)	Assets ($M)	Total Stockholder Equity ($M)
2021	$42,6589.3%	$5,70543.7%	$64,098	$17,039
2020	$39,02222%	$3,97051.8%	$54,895	$13,673
2019	$31,97919.2%	$2,61564.3%	$46,575	$10,822
2018	$26,83914.5%	$1,59254.4%	$38,701	$9,285
2017	$23,44112.4%	$1,031-18.7%	$33,428	$7,957

Progressive

Company Information

Key Financials (Last Fiscal Year)
As of 8/3/2022

Profit Ratios
As of 8/3/2022

Progressive Rank History

Historical Data

Progressive

Company Information

Key Financials (Last Fiscal Year)As of 8/3/2022

Profit RatiosAs of 8/3/2022

Progressive Rank History

Historical Data

Key Financials (Last Fiscal Year)
As of 8/3/2022

Profit Ratios
As of 8/3/2022