Those ubiquitous insurance ads, with characters like Progressive’s Flo, or Geico’s Gecko, were probably a bit harder to spot in 2023.
Home-and-auto insurers faced tough conditions as they worked to increase their rates to keep up with some fast-rising claim costs and cut back on marketing spending. But with underwriting performance at Progressive steadying in the most recent reports, and inflation in auto-repair costs slowing but sticking around in car-insurance costs, it wouldn’t be a shock to see Flo a bit more in 2024—as well as flows into stocks such as Progressive.
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