The Progressive Corporation reported a 32 percent decline in the auto insurer's net income for the fourth quarter of last year.
The Mayfield, Ohio-based carrier reported $281.6 million in net income for the quarter, compared with $413.5 million for the same period last year.
The combined ratio also rose 5 points, with the company posting 90.7 for the fourth quarter last year compared to 85.5 for the 2004 period.
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