Allstate profit falls 17 percent

Tue May 6, 2014 4:13pm EDT

May 6 (Reuters) - Insurer Allstate Corp posted a 17 percent fall in quarterly profit as losses from disasters soared due to a more severe winter than usual across most of North America.

The company's net income available to common shareholders fell to $587 million, or $1.30 per share, in the quarter ended March 31, from $709 million, or $1.47 per share, a year earlier.

Catastrophe losses rose 24 percent to $445 million. (Reporting by Aman Shah in Bangalore)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

A tourist takes a plunge as she swims at Ngapali Beach, a popular tourist site, in the Thandwe township of the Rakhine state, October 6, 2013. Picture taken October 6, 2013. REUTERS/Soe Zeya Tun (MYANMAR - Tags: SOCIETY) - RTR3FOI0

Where do you want to go?

We look at when to take trips, budget considerations and the popularity of multigenerational family travel.   Video