Progressive reported new income dropped 19 percent for the month of January over the same period last year as net premium written dropped 4 percent.
The Mayfield, Ohio-based auto insurer reported net income dropped $24 million from $122 million last year to $98 million this year. Net premiums written dropped 4 percent, from $1.27 billion to $1.22 billion.
However, the combined ratio improved by 4.3 points to 89.
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