NU Online News Service, Feb. 11, 3:10 p.m. EST
The Allstate Corporation reported a 2009 fourth quarter net income of $518 million, up sharply from a 2008 fourth quarter net loss of $1.1 billion. The company attributed the turnaround to lower realized capital losses and improved operating income.
Total realized capital losses totaled $33 million in the quarter compared to $1.9 billion in the previous year's fourth quarter. Operating income improved to $592 million from $518 million over the same time period.
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