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Open original source ↗@CedarReseach Correct. In the 1Q $PGR personal lines NEP grew almost as fast as $LMND (23% vs 24%), and had a LOWER net Loss/LAE ratio (65% vs 67%), ex-CAT. And of course had MUCH lower marketing costs as a % of GEP/NEP….and was very profitable, with no need for “Adjusted EBITDA”! https://t.co/lOfeXzIH8N