Progressive Insurance Corp. posted a 14 percent decline in net income for April.
The Mayfield, Ohio-based personal lines carrier reported $136.7 million of net income, or 19 cents per share, compared to $159.6 million, or 20 cents per share, for the same period last year.
The combined ratio for the month rose three points to 88.8, while net premiums earned came in at $1.35 billion, compared to $1.37 billion in April of last year.
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