NU Online News Service, July 1, 11:55 a.m. EDT
Allstate's plan to acquire online direct insurer Esurance could benefit Progressive in part because of an expected cutback in advertising, according to a financial analyst.
In an analyst's note, Joshua Shanker with Deutsche Bank Securities Inc. says the acquisition by Allstate of Esurance is no threat to Progressive, and could prove to be a benefit to the auto insurer.
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