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Lewis was raised in a Jewish [1] [2] family in Cleveland Heights, Ohio, [3] the oldest of four children born to Helen and Joseph Lewis. [3] [4] His father — who had co-founded a small auto insurance company named Progressive Insurance with Jack Green in 1937 [5] — was grooming Lewis to work at the company when he died at age 48 while Lewis was a junior [4] at Cleveland Heights High School. [3]
Progressive was formed in 1937 by Joseph Lewis and Jack Green as Progressive Mutual Insurance Company. [5] In 1956, the company found a niche by insuring more risky drivers. In 1965, Peter B. Lewis , son of Joseph Lewis, and his mother borrowed $2.5 million, pledging their majority stake as collateral, and completed a leveraged buyout of ...
Retrieved from "https://en.wikipedia.org/w/index.php?title=Progressive_Auto_Insurance&oldid=17316682"
Sandhu was found guilty of breaching the Conflicts of Interest Act by failing to disclose a number of court cases against his company while he lobbied for changes to the Builders' Lien Act, but the ethics commissioner determined there "was no underlying motive and no deliberate effort to mislead," and so imposed no penalties for this violation. [5]
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On January 1, 2019 an emergency merger took effect and Progressive Credit union merged with PenFed. Progressive Credit Union held taxi medallion loans that led to the credit union's declining revenues. The merger gave PenFed and open charter, allowing anyone nationwide to join the once only military affiliated member credit union.