The Progressive Corporation reported net income for January declined 11 percent compared to the same 2005 period.
The Mayfield, Ohio-based insurer reported $137.7 million of net income for the month, compared with $154 million in January 2006.
The combined ratio rose nearly two points to 87.8 compared to last year's figure.
Net premiums earned remained virtually flat at $1.3 billion in the month, while the written figure rose 1 percent.
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