The Progressive Group of Insurance Companies (Progressive) ranks third in the nation for auto insurance based on premiums written. The Group is comprised of 70 operating subsidiaries and one affiliate, which, combined, wrote $13.8 billion in premium in 2007. Most companies in the Group receive the coveted A+ (superior) rating from A. M. Best, an independent firm that rates the financial strength and performance of insurers. The Common Shares of The Progressive Corporation, the holding company, are publicly traded at NYSE:PGR. 

During the mid-80's, it became difficult for financial institutions to obtain affordable insurance due to instability in the banking industry. To assist community banks, the American Bankers Association joined forces with Progressive to create the ABA-sponsored insurance program, providing Financial Institution Bond and Directors & Officers Liability coverage at affordable rates to strong-performing community banks. Through the creation of the American Bankers Professional and Fidelity Insurance Company Ltd. (ABPFIC), the mutual reinsurer of the program, insureds under the program became owners of the program. Since 1990, $63,500,000 has been declared in distributions back to our loyal customers.

As a banker-directed program, the ABA-sponsored insurance program has consistently been the first to offer innovative new insurance products to address bankers’ needs. Over 1,700 community banks, representing every state, have demonstrated their appreciation of the program through their long-term loyalty as customers.

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