Allstate reports profit in Q4

Feb 11, 2010 (Datamonitor via COMTEX) -- Allstate, an insurance holding company, has reported that net income for the fourth quarter ended December 31, 2009 was $518 million, or $0.96 per diluted share, compared to a net loss of $1.13 billion, or $2.10 per diluted share, for the fourth quarter ended December 31, 2008.

Total revenues for the fourth quarter of 2009 were $8.1 billion, an increase of 22.7% compared to $6.57 billion for the fourth quarter of 2008.

For the fourth quarter of 2009, operating income was $592 million, or $1.09 per diluted share, compared to $518 million, or $0.96 per diluted share, for the same quarter of 2008.

Net income for the year ended December 31, 2009 was $854 million, or $1.58 per diluted share, compared to a net loss of $1.68 billion, or $3.06 per diluted share, for the year ended December 31, 2008.

Total 2009 revenues were $32 billion, an increase of 8.9% when compared with $29.39 billion for 2008. Operating income for 2009 was $1.88 billion, or $3.48 per diluted share, versus $1.76 billion, or $3.21 per diluted share, for 2008.

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