(Bloomberg) — Allstate Corp., the largest publicly traded U.S. property-casualty insurer, said second-quarter profit advanced 41% and beat estimates as revenue climbed.
Net income rose to $614 million, or $1.39 a share, from $434 million, or 92 cents, a year earlier, the Northbrook, Illinois-based company said today in a statement. Operating income, which excludes some investment results, was $1.01 a share, beating the 65-cent average estimate of 22 analysts surveyed by Bloomberg.
Allstate Chairman and Chief Executive Officer Thomas Wilson has focused on winning and retaining customers after price increases caused some homeowners to defect. Second-quarter results were helped by an increase in policyholders for its namesake brand of coverage.
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