Allstate profit doubles as disaster losses decline

Wed Feb 5, 2014 4:18pm EST

Feb 5 (Reuters) - Allstate Corp's quarterly profit more than doubled as disaster losses fell and the company earned higher premiums from its insurance policies.

Net income rose to $810 million, or $1.76 per share, in the fourth quarter ended Dec. 31, from $394 million, or 81 cents per share, a year earlier.

On an operating basis, Allstate earned $1.70 per share.

Consolidated revenue rose 3 percent to $8.79 billion.