Allstate CEO Weathers the Storm
After the whipped cream four Back-to-back of last year hurricanes in the third quarter, Allstate Corp. is fighting back in the fourth quarter with an increase of 34% in operating income.
Net earnings in the third quarter fell by 91% compared to the previous year, Allstate absorbed $ 2.5 billion of catastrophe losses.
But the second country in the house and a car show insurers, 17% of earnings growth for the full year, while revenue moves easily to $ 8.9 billion.
During the fourth quarter, growth Allstate’s policy in its highest level in 10 years. Failure automobile insurance increased by 5.5%. Owners’ lines were at 6.4%.
Edward Liddy, Chief Executive of Northbrook, Ill.-based companies that have recently spoke with IBD.
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