Progressive, a large auto insurance company with a $96 billion investment portfolio, is positioned to weather a recession and even benefit from a bear market. Because auto insurance is legally required, consumers cannot stop buying it in large numbers during an economic downturn, making the business resilient. More than 90% of Progressive's portfolio is in bonds, generating over $1.5 billion in investment income in the first quarter of 2026. A bear market could allow the company to shift more into stocks, providing greater upside when the next bull market arrives. Founded in 1937, Progressive has proven its ability to survive economic and market volatility.
Progressive CorpProgressive's large bond portfolio generates stable investment income, and a bear market could allow it to shift to stocks for upside.