Allstate Corp. second-quarter net income increased slightly to $434 million on lower catastrophe losses.
Pretax catastrophe losses during the second quarter were $647 million compared to $819 million during the same period a year ago, when the largest publicly-traded home and auto insurer in the U.S. posted net income of $423 million.
Gains outweighed a $312 million after-tax charge related to the extinguishment of $1.83 billion in debt.
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