NU Online News Service, July 14, 12:17 p.m. EDT
Auto insurer Progressive reported June net income dropped 29 percent from the prior year on the poor performance of its investment portfolio.
The Mayfield Village, Ohio-based insurer said net income dropped $23 million to $57 million compared to June 2009.
The company reported a loss of more than $32 million on its investment portfolio for June, compared to a gain of $14 million for the prior year.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
