VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 14, 2026

Stock Comparison

AIA Group Limited vs The Progressive Corporation

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

AIA Group Limited

1299.HK · Hong Kong Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryHK
Data as of2026-01-12
Moat score
67/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into AIA Group Limited's moat claims, evidence, and risks.

View 1299.HK analysis

The Progressive Corporation

PGR · New York Stock Exchange

Market cap (USD)$126.1B
Gross margin (TTM)26.3%
Operating margin (TTM)15.9%
Net margin (TTM)12.6%
SectorFinancials
IndustryInsurance - Property & Casualty
CountryUS
Data as of2026-01-04
Moat score
75/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into The Progressive Corporation's moat claims, evidence, and risks.

View PGR analysis

Comparison highlights

  • Moat score gap: The Progressive Corporation leads (75 / 100 vs 67 / 100 for AIA Group Limited).
  • Segment focus: AIA Group Limited has 6 segments; The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: n/a vs Moderate.
  • Moat breadth: AIA Group Limited has 4 moat types across 3 domains; The Progressive Corporation has 5 across 2.

Primary market context

AIA Group Limited

Mainland China

Market

Life insurance, accident & health insurance, and long-term savings products

Geography

Mainland China

Customer

Individuals and corporate clients (group insurance/employee benefits)

Role

Insurer / underwriter and distributor (agency and partnerships)

The Progressive Corporation

Personal Lines

Market

U.S. private passenger auto insurance (dominant) plus specialty personal lines and homeowners/renters (small portion)

Geography

United States

Customer

Individuals/households

Role

Primary insurer (P&C)

Revenue share

85%

Side-by-side metrics

AIA Group Limited
The Progressive Corporation
Ticker / Exchange
1299.HK - Hong Kong Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
n/a
$126.1B
Gross margin (TTM)
n/a
26.3%
Operating margin (TTM)
n/a
15.9%
Net margin (TTM)
n/a
12.6%
Sector
Financials
Financials
Industry
n/a
Insurance - Property & Casualty
HQ country
HK
US
Primary segment
Mainland China
Personal Lines
Market structure
Oligopoly
Oligopoly
Market share
n/a
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
n/a
Moderate
Moat score
67 / 100
75 / 100
Moat domains
Legal, Supply, Demand
Supply, Demand
Last update
2026-01-12
2026-01-04

Moat coverage

Shared moat types

Service Field NetworkBrand Trust

AIA Group Limited strengths

Concession LicenseLong Term Contracts

The Progressive Corporation strengths

Learning Curve YieldSuite BundlingOperational Excellence

Segment mix

AIA Group Limited segments

Full profile >

Mainland China

Oligopoly

n/a

Hong Kong (including Macau)

Oligopoly

n/a

Thailand

Oligopoly

n/a

Singapore (including Brunei)

Oligopoly

n/a

Malaysia

Oligopoly

n/a

Other Markets

Competitive

n/a

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.