BusinessApril 27, 1998
BUSINESS MEMO: ALLSTATE EARNINGS
NORTHBROOK, Ill. -- Allstate Corp. earnings far exceeded analysts' expectations in the first quarter as the insurer today posted the best numbers in its history. Income shot up 22 percent to a record $936 million, or $2.20 per diluted share, for the quarter ended March 31, up from $767 million, or $1.73 a share, in the same quarter of 1997...
NORTHBROOK, Ill. -- Allstate Corp. earnings far exceeded analysts' expectations in the first quarter as the insurer today posted the best numbers in its history.
Income shot up 22 percent to a record $936 million, or $2.20 per diluted share, for the quarter ended March 31, up from $767 million, or $1.73 a share, in the same quarter of 1997.
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Several factors, including a mild winter in much of the country, are combining to lower claims and help the industry, said Allstate officials.
Automobiles are safer, impaired drivers and drunk drivers are not being tolerated as much and people are buckling up more.
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