Under Griffith’s watch, Progressive has moved into the home insurance market and persuaded customers to buy multiple policies from the company, increasing premiums sold by 14%, to $23.4 billion in 2016. This bundling strategy has allowed Progressive to keep its rates relatively low and grow revenue, helping boost its stock price by nearly 50% over the past 12 months. Still, last year profits dropped some 18% to just over $1 billion—and now the insurer could be impacted by the 2017 hurricane season.
Company Financials (2016, or most recently completed fiscal year)
|Market Value as of 9/14/17 ($M)||26808.1|