Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The Allstate Corp. reported a fourth quarter loss of $1.13 billion and says it plans to eliminate 1,000 positions in the next two years in response to the economic downturn.

Reporting its fourth quarter results, the company said its income loss came in at an estimated $1.13 billion compared to net income of $760 during the same period of 2007. This translated into loss income per share of $2.11 compared to earnings per share of $1.36 the year before. Consolidated revenues during the period dropped 27 percent, or $2.42 billion, to $6.57 billion.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.