Peter Lewis, the second-gen US businessman who transformed Progressive Corporation into a multi-billion dollar company has died at his home in Florida over the weekend.
The eccentric billionaire became chief executive of the car insurer in 1965 and held the post for 35 years. He remained chairman until his death.
Lewis’s father, Joseph Lewis, co-founded the company in 1937 with Jack Green. Joseph had been grooming his son to take over, but died suddenly while Lewis was still a junior at Princeton University.