Progressive Falls Most Since August as Profit Drops on Hail
- Operating earnings per share of 42 cents missed estimates
- Insurer had $82 million of catastrophe losses in March
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Progressive Corp., the fourth-largest U.S. auto insurer, fell the most since August after profit declined on higher costs from catastrophes including hailstorms.
The insurer slumped 3.4 percent to $33.57 at 4:15 p.m. in New York.