1 Reason Why This Is My Favorite Insurance Stock Right Now
Investing isn't always easy, as 2022 has made crystal clear. One thing we can do during times like this is invest in resilient companies with clear competitive advantages. Insurance companies can present this opportunity, but they often fly under the radar. The property and casualty (P&C) industry isn't exciting -- but don't be mistaken, these companies can deliver market-crushing returns. Going back to 2000, one insurance company delivered returns that would've turned a $10,000 investment into $378,000.
If you guessed Progressive (NYSE: PGR), you'd be right. With a huge head start on a specific technology that its rivals are only now developing, let's see whether Progressive can keep winning.
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Source Fool.com
