* 4th-qtr operating profit $1.70/share vs est $1.38
* Losses from natural disasters fall 90 pct
Feb 5 Allstate Corp's fourth-quarter
profit handily beat average Wall Street estimate as disaster
losses fell and premiums rose across all businesses.
The largest publicly traded home and auto insurer in the
United States has been aggressively raising home insurance rates
to make up for catastrophe losses and low interest rates on its
Losses from natural disasters fell almost 90 percent to $117
million in the quarter ended Dec. 31. The year-earlier quarter
included $1.12 billion in losses from superstorm Sandy.
Net income more than doubled to $810 million, or $1.76 per
share, from $394 million, or 81 cents per share, a year earlier.
On an operating basis, Allstate earned $1.70 per share.
Analysts on average expected the company to earn $1.38 per
share, according to Thomson Reuters I/B/E/S.
The company's shares were up 1 percent in extended trading.
They closed at $49.55 on the New York stock exchange.