Insurer Allstate's profit rises on lower catastrophe losses

Newswire

July 31 (Reuters) - Home and auto insurer Allstate Corp reported a 2.6 percent rise in quarterly profit due to lower catastrophe losses. Net income rose to $434 million, or 92 cents per share, in the second quarter, from $423 million, or 86 cents per share, a year earlier. On an operating basis, Allstate reported earnings of $1.12 cents per share. Revenue rose 6.1 percent to $$8.79 billion.

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