Dec. 16, 2014, 8:45 AM
- In line with its strategy to take aim at those bundling home and auto insurance, Progressive (NYSE:PGR) agrees to up its stake in American Strategic Insurance to 67% from 5% in exchange. Consideration will be $875M in cash.
- ASI CEO John Auer: "This is a great opportunity for ASI, as our intention has long been to become the Progressive of home insurance."
- Progressive CEO Glenn Renwick: "ASI provides a significant array of the most important products beyond auto. Together we can make our products an even more attractive bundle for consumers and agents."
Progressive Corp. is specialized in insurance products primarily related to motor vehicles. It offers a range of insurance solutions for personal and commercial property casualty. The company operates through Personal Lines and Commercial Lines segment. The Personal Lines segment writes... More
Industry: Property & Casualty Insurance
Country: United States
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