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Catastrophe losses hurt Allstate profit
May 1, 2013 / 8:16 PM / 4 years ago

Catastrophe losses hurt Allstate profit

May 1 (Reuters) - Home and auto insurer Allstate Corp reported a 7.4 percent decline in quarterly profit, hurt by bigger losses from catastrophes.

Net income fell to $709 million, or $1.47 cents per share, in the first quarter from $766 million, or $1.53 cents per share, a year earlier.

On an operating basis, Allstate earned $1.35 per share.

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