Progressive: Increased Premiums Driving Revenue Growth

Wed, 04/14/2010 - 17:01 EDT - Seeking Alpha

Zacks.com submits:
Progressive Corp. (PGR) reported first quarter earnings of 44 cents per share compared to earnings of 35 cents in the year-ago period. Excluding the impact of realized gains and losses, the company earned 41 cents per share in the quarter, exceeding the Zacks Consensus Estimate of 37 cents.The beat is primarily driven by increased premiums earned. Progressive’s net premiums written increased 7% year-over-year to $3.8 billion. Net premiums earned were up 3% year-over-year to $3.5 billion.Complete Story »

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