WASHINGTON (dpa-AFX) - Progressive Corp. (PGR) reported that its net income attributable to the company for the fourth-quarter surged to $1.07 billion or $1.81 per share from $264.7 million or $0.44 per share in the prior-year quarter.
On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $1.13 for the quarter. Analysts' estimates typically exclude special items.
Net premiums written for the quarter grew to $9.59 billion from $7.94 billion last year. Analysts expected revenue of $8.90 billion for the quarter. Net premiums earned were $9.90 billion, up from $8.19 billion in the previous year.
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