NU Online News Service, May 19, 1:40 p.m. EDT

Auto insurer Progressive reported April net income slipped 4 percent as its combined ratio climbed 1.5 points.

The Mayfield Village, Ohio-based insurer said net income was off $5 million, slipping to $111 million compared to the same month last year.

Progressive said its combined ratio in April rose 1.5 points from last year to 90.7.

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