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Letter to the Editor
Wednesday November 10
Progressive Earnings Rise on Low Level of Accidents
Car Insurer Progressive Corp.'s third-quarter earnings rose, helped by a low level of auto accidents in the quarter.The Mayfield Village, Ohio-based company said its third- quarter profit was $388.9 million, or $1.77 a share, compared with $319.8 million, or $1.45 a share, a year earlier.
Analysts had expected the company to earn $1.69 in the quarter.
The company said net premiums written rose 9 percent in the quarter while net premiums earned gained 12 percent.
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