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US motor insurer Progressive Corp...

... has closed the first half of 2009 with net income of $482.6m, marking a rise of 6% that was fueled by a 1% increase in net earned premiums to $6.85bn and a 3% decline in claims losses to $4.80bn. The improved premiums and loss figures also generated a three-point improvement in the Ohio-based group’s combined ratio to 91.1% and offset $57.5m in realized investment losses, which were more than four times higher than a year ago.

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