Allstate Profit Drops 37% on Storm Losses
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CHICAGO  â The Allstate Corporation, the property and casualty insurer, reported a 37 percent decline in fourth-quarter profit Tuesday on higher catastrophe losses and increased costs.
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LONDON (CBS.MW) -- Zurich Financial Services (ZZ:001107539) said Wednesday that third quarter net profits fell 31 percent to $454 million, hit by the impact of hurricanes.
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Allstate Corp, the largest publicly  traded U.S. home insurer, said on Tuesday that net income fell  37.3 percent in the fourth quarter, hurt by higher catastrophe  losses.
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Property and casualty insurance provider Safeco Corp. said Tuesday it expects claims from the four hurricanes that hit the southeastern United States in August and September to reduce third-quarter earnings by $127 million, or 96 cents per share.
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NEW YORK  - The world&#39;s leading alumium producer, Alcoa, said Thursday quarterly net profit slipped as operations took a double-hit from a labour strike and Hurricane Ivan.
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The struggling home furnishings retailer posts a 37% drop in Q3 earnings and cuts guidance.
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BellSouth Corp. on Monday said third-quarter earnings fell due to storm damage in its region and costs stemming from Cingular Wirelessâ planned $41 billion purchase of AT&amp;T Wireless Services Inc.. The No.
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Regal Entertainment Group, the country&#39;s largest owner of movie theaters, Tuesday said its profit fell 37 percent in the third quarter, as box office receipts slipped.
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Toll Brothers said its first-quarter profit fell 67 percent as a result of lower sales, write-downs and other costs.
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U.S. Bancorp , the sixth-largest U.S. bank, on Tuesday said fourth-quarter profit fell 21 percent, hurt by losses from loans and money market mutual funds, and a legal settlement.
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Shares in Fremont General dropped 19 percent after a rescue plan was abandoned, while Luminent Mortgage Capital said second quarter profits were lower than initially reported.
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The power company said fourth-quarter profit fell to $271 million, hurt by discontinued operations and higher plant maintenance costs.
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Toll Brothers Inc.  on Thursday said the weak U.S. housing market drove down its quarterly profit by 67 percent after write-downs for lower land values, and the luxury home builder lowered its forecast.
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Allstate Corp. ALL.N the second  largest home and auto insurer in the United States, on  Wednesday said profits fell largely because of hurricane  related damage claims.
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Allmerica Financial Corp.'s third-quarter earnings rose 55 percent, and the property and casualty operations reported ''solid&quot; pretax segment earnings for the period despite being hurt by catastrophe losses primarily related to hurricanes in the Southeast. The Worcester insurance and financial services holding company said earnings were $17.7 million, or 33 cents a share, for the quarter, up from net income ...
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The Allstate Corporation announced 16 percent profits in the second quarter but missed analyst estimates for operating earnings by 4 cents a share.
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Allstate Corp., St. Paul Travelers Cos., Ace Ltd. and other insurers face as much as $10 billion in losses after hurricane winds battered Florida for second time in three weeks.