Progressive Corp.'s September results brought mixed reviews from two financial analysts, as the auto insurer continued to report positive earnings, but some declines in its business segments.
The Mayfield, Ohio-based carrier's September financial results showed net income increased 32 percent from $104.7 million, or 13 cents a share, for the month last year to $138.1 million, or 18 cents a share, this September. However, net premiums written dropped 1 percent from $1.06 billion to $1.05 billion.
So far this quarter, net income is up 34 percent from $305 million, or 38 cents a share, to $410 million, or 53 cents a share. Net premiums written were up 1 percent, from $3.56 billion to $3.58 billion.
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