Mayfield Village, Ohio-based vehicle insurer was selected as the top performing company in the S&P 500, according to the eighth annual analysis by Business Week magazine. Last year, Progressive was ranked fifth.
The magazine made its selections based on criteria including growth in revenues, profits, and returns to shareholders over one- and three-year periods, Progressive said in a statement. It also examined net margins, debt levels and sales volume.
Progressive received high marks for improving the efficiency of its operations and for its history of industry innovations, such as being the first to offer comparison rates, its innovations in claims service, including its newest innovation, specially-designed claims centers providing a concierge-level of service, and its constant drive to find ways to do things better, faster and cheaper for its 12 million customers.
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