MAYFIELD VILLAGE, Ohio (AP) -- Insurer Progressive said Wednesday that net premiums written for July rose 10 percent compared to the same month a year ago.
The company said the figure, which is a measure of the value of all new and renewal policies sold during the period, increased to $1.65 billion from $1.5 billion.
Net premiums earned, the portion of the premiums it earns when policies expire, rose 8 percent to $1.55 billion.
Last month Progressive Corp. reported that its second-quarter net income fell as its performance was weighed down by investment losses.
Shares of the Mayfield Village, Ohio, company rose 32 cents to $20.12 in morning trading.
