Progressive's Quarterly Profit Up 16 Percent
NU Online News Service, Jan. 20, 3:48 p.m. EST?Mayfield Village, Ohio-based auto insurer Progressive Corp. reported a 16 percent rise in its fourth-quarter net profit compared to the period one-year ago.[@@]
The company said its fourth-quarter net income was $413.5 million, improving from $357.8 million reported during the year-ago period. Net premiums written rose 15 percent for the quarter, to $3.35 billion from $2.91 billion reported one year ago.
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