Progressive Profit Falls 2.9% to $249.1 Million on Sandy Losses

The insurer's Q4 underwriting profit margin this year fell almost two cents on every dollar when compared to results from Q4 2011.

January 18, 2013

Elizabeth Bunn, Bloomberg News

Progressive Corp., the fourth-largest U.S. automobile insurer, said profit declined 2.9 percent as the company faced claims from Superstorm Sandy and growth in the policyholder count slowed.

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