NU Online News Service, Nov. 17, 2:00 p.m. EDT

Progressive Corp. reported net income for the month of October dropped 28 percent as its combined ratio increased 4.3 points.

The Mayfield Village, Ohio-based auto insurer reported October net income dropped $30 million to $77 million compared to the same period last year.

Net premium written rose 3 percent, or $35 million, to $1.34 billion for October.

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