Progressive's Income Jumps as Insurer Adds More Policies

Key TakeawaysInsurance company Progressive added more policies, sending its first-quarter income soaring.The insurer's net premiums written rose 17.7%, and net premiums earned gained 19% in the latest period.Progressive's combined ratio was hurt by losses incurred from coverage of a big March storm in Texas and the Midwest. Shares of Progressive (PGR) gained Friday after the insurance provider posted a more-than-fivefold increase in net income after adding more policies. In its March monthly update, the com ...