Writing about High Quality Companies, Enlightened Capital

Enlightened Capital

Writing about High Quality Companies

I have more than 8 years of investing experience across Equities and Fixed Income (Investment Grade/High Yield). I have largely focused on Financials, Energy, and Utilities professionally, but I am interested in exploring new sectors to find attractive opportunities. Right now, the Payments sector is occupying much of my time.

Equity Bottom-Up

<ul><li>PGR had a challenging 3Q21, with Operating Earnings down 92% y/y to $82mn</li><li>PGR recently updated investors on the large opportunity within its commercial lines business and provided an overview of the key drivers for that segment’s success over time.</li><li>I continue to believe that PGR represents an attractive investment opportunity, especially given PGR’s commanding underwriting lead over its peers, impressive market share gains over time, and attractive growth avenues.</li></ul>

PGR had a challenging 3Q21, with Operating Earnings down 92% y/y to $82mnPGR recently updated investors on the large opportunity within its commercial lines business and provided an overview of the key drivers for that segment’s success over time.I continue to believe that PGR represents an attractive investment opportunity, especially given PGR’s commanding underwriting lead over its peers, impressive market share gains over time, and attractive growth avenues.

Progressive Corp

Progressive Corp Update: Challenges