Search
 

Allstate profit rises 13% on better margins, claims costs

Allstate said first-quarter profit rose 13% as margins improved at the property-liability business and catastrophe losses fell.

By Sonali Basak | Updated on May 06, 2015
Allstate said first-quarter profit rose 13% as margins improved at the property-liability business and catastrophe losses fell. (360b/Shutterstock.com)

(Bloomberg) — Allstate Corp., the largest U.S. publicly traded seller of auto and home insurance, said first-quarter profit rose 13% as margins improved at the property-liability business and catastrophe losses fell.

Net income climbed to $677 million, or $1.53 a share, from $600 million, or $1.30, a year earlier, the Northbrook, Illinois-based company said Tuesday in a statement. Operating income was $1.46 a share, beating the $1.44 average estimate of 22 analysts surveyed by Bloomberg.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.