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

January 24, 2024 08:29 ET (13:29 GMT)

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