Allstate Profit Rises on Higher Premiums

Allstate Corp.’s third-quarter operating earnings rose 34 percent as increased premiums offset higher loss costs. The nation’s second-largest insurer said operating earnings, excluding a restructuring charge and capital gains, rose to $537 million, or 72 cents per share, from $401 million, or 51 cents, in the same quarter 1999. Net profits for the quarter, including a $12 million restructuring charge and $129 million in realized capital gains, rose 31 percent to $644 million, or 87 cents per share, from $490 million, or 62 cents, in the same quarter a year ago.

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