PROFITS DOWN FOR AUTO INSURANCE COMPANIES

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GEICO VS. ESURANCE

Profit from selling policies at car insurer Geico Corp. fell 49 percent to $158 million before taxes as claims costs rose and the company increased its advertising budget. Geico added 120,000 new policyholders in the fourth quarter, after cutting prices to compete with companies including Progressive Corp., which also reduced rates last year to customers that it reaches over the phone and Internet. [...]