May 6, 2014 / 8:15 PM / in 3 years

Allstate profit falls 17 percent

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)

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