Progressive Corporation
-0.19 %
33.89 %
Yet to be announced
Company Overview
Progressive Corporation provides personal and commercial auto, residential and commercial property, general liability, and other specialty property-casualty insurance products. It operates in three segments: Personal Lines, Commercial Lines, and Property. The Property segment writes residential property insurance for homeowners, other property owners, and renters. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.
Revenue Sources
PassProgressive's primary revenue comes from insurance premiums and related services, which are halal business activities. Insurance that follows the principle of risk sharing and mutual protection is permissible in Islamic finance. While some of Progressive's investment income may come from interest-bearing securities, this represents a small portion of their total revenue and falls below the 2.5% threshold based on the provided financial data.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| March 31, 2025 | $20.34b | $70.0m | $-70,000,000.0 | $70.0m | 0.34% | 100.00% |
| Dec. 31, 2024 | $20.21b | $69.9m | $-70,000,000.0 | $69.9m | 0.35% | 100.00% |
| Sept. 30, 2024 | $19.65b | $69.9m | $-70,000,000.0 | $69.9m | 0.36% | 100.00% |
| June 30, 2024 | $18.06b | $69.6m | $-70,000,000.0 | $69.6m | 0.39% | 100.00% |
Based on the provided financial data for the last four quarters, Progressive's interest expense ratios have consistently remained below critical thresholds when compared to total expenses. The interest expense of approximately $69.9 million per quarter represents an insignificant portion of the company's total expenses, indicating that interest-bearing debt does not play a material role in their operations.
Operational Ethics
PassAfter reviewing Progressive's public disclosures and operations, there is no evidence of significant ongoing associations with entities involved in human rights violations. The company's operations are primarily focused in the United States, and there are no documented substantial ties to the state of Israel or the Chinese Communist Party.
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