By Will Feuer
Progressive recorded higher earnings for the third quarter, topping Wall Street analysts’ expectations.
The Mayfield Village, Ohio-based insurance company reported a third-quarter profit of $1.12 billion, or $1.89 a share, up from $124.1 million, or 20 cents a share, a year ago. Analysts surveyed by FactSet expected earnings of $1.72 a share.
Net premiums written rose 20% to $15.59 billion. Net premiums earned also climbed 20%.
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