Progressive Sees Strong Growth and Profitability in 4Q
Progressive continued to show that it is playing with a strong hand in the fourth quarter. Its relatively recent entry into homeowners insurance and the ability to bundle continues to drive strong growth in the agent channel, and like the rest of the auto insurance industry, pricing increases are allowing underwriting profitability to improve. A return on equity of 18% for the full year highlights the narrow moat around the business. While we appreciate the company’s near-term growth prospects a...
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