Wednesday, May 16, 2007

Progressive posts lower April earnings

(Reuters) - The Mayfield Village, Ohio-based car and home insurer's combined ratio, which reflects how much it made on the premiums it earned before losses and expenses, was 88.8 in the latest quarter, up from 85.9 a year ago. A lower combined ratio is better for an insurer.

Net premiums earned were $1.35 billion, down $1.37 billion a year earlier.


Read more at Reuters.com Market News

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