Progressive, Allstate stocks surge as insurance prices jump

Progressive (NYSE: PGR) and Allstate (NYSE: ALL) stock prices are soaring, helped by higher insurance premium costs. The two have jumped by more than 50% in the past 12 months, adding billions of dollars to their market caps. Progressive is up by 220% in the past five years while AllState is up by almost 100% in the same period. Its market cap has jumped to over $120 billion while AllState is valued at more than $40 billion. Progressive vs Allstate stocksThe main reason for this surge is that insurance prem ...