By Will Feuer
Progressive recorded higher earnings for the fourth quarter, topping Wall Street analysts' expectations and sending shares higher.
The Mayfield Village, Ohio-based insurance company reported a fourth-quarter profit of $1.99 billion, or $3.37 a share, up from $826.4 million, or $1.40 a share, in the same period a year earlier. Analysts surveyed by FactSet were expecting $2.43 a share.
Net premiums written rose 21% to $15.13 billion. Net premiums earned also rose 22%.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
01-24-24 0829ET