Allstate: Profit to Be Cut by $320 Million on Retiring Debt

By | June 24, 2013

Allstate Corp., the largest publicly traded U.S. home and auto insurer, said second-quarter earnings will be cut by about $320 million on costs tied to extinguishing debt.

Allstate paid about $2.3 billion to retire bonds with a principal amount of approximately $1.8 billion, the Northbrook, Illinois-based insurer said today in a statement distributed by PR Newswire.

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