Allstate Quarterly Net Up 76%

NU Online News Service, July 20, 9:50 a.m. EDT?Allstate Corp. reported late yesterday that second-quarter consolidated net income had jumped 76 percent, driven mainly by a $440 million increase in property-casualty operating earnings.[@@]

The rise in property-casualty earnings was primarily attributable to a lower level of catastrophe losses and favorable loss reserve development.

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