Oct 14 · 10:57:00 AM · Source: Dow Jones Newswire

Auto insurer Progressive Corp.(PGR) today said it posted a nice turnaround, returning to a profitable stance in the third quarter after being hurt last year by $1.37 billion of investment losses. Progressive's Q3 earnings were $269.9 million, or 40 cents a share, compared with a year-earlier loss of $684.2 million, or $1.03 a share. The mean estimates of analysts surveyed by Thomson Reuters were earnings of 33 cents a share and net premiums written of $3.56 billion.
The results come as insurers battle for market share in a market environment where the price of one policy over another is probably more important than ever.

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by Larry Etter