NU Online News Service, Feb. 2, 12:44 p.m. EST

Allstate Corp. says 2011 fourth-quarter net income increased 145 percent over the prior year due to improved profitability in its insurance business and solid performance in its financial segment.

The Northbrook,Ill.—based company reports a fourth-quarter net-income increase of $428 million to $724 million. Earnings per share rose 88 cents to $1.43, beating analyst estimates of 97 cents a share. Consolidated revenues rose 2 percent, or $149 million, to $8.2 billion.

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