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Allstate profit rises about 50 pct
July 30, 2014 / 8:26 PM / 3 years ago

Allstate profit rises about 50 pct

July 30 (Reuters) - Allstate Corp, the largest publicly traded home and auto insurer in the United States, reported a 48.6 percent rise in quarterly profit as net written premiums rise and operating expenses fall.

Net income available to common shareholders rose to $645 million, or $1.39 per share, for the second quarter ended June 30, from $434 million, or 92 cents per share, a year earlier.

On an operating basis, Allstate reported earnings of $1.01 per share.

Consolidated revenue rose less than 1 percent to $8.87 billion.

Operating expenses fell about 6.1 percent to $1.02 billion. (Reporting by Avik Das in Bangalore; Editing by Don Sebastian)

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