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Fly News Breaks for May 18, 2018
PGR, ALL
May 18, 2018 | 07:17 EDT
Citi analyst James Naklicki initiates a pair trade recommendation overweighting Allstate (ALL) and underweighting Progressive (PGR). The analyst, after reviewing the 2017 statutory results for the seven major lines of business within personal and commercial lines, found that in Personal Auto, the industry combined ratio improved by almost four points to 102.6%, far better than he was expecting. He thinks the industry is over-earning in workers comp.
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