Multi-faceted strategy delivers solid profits

Allstate have announced net income for the second quarter of 2007 was $1.40bn - up 16.2% from the second quarter of last year.

For the first six months of 2007, net income was $2.90 bn, up 10.5 percent compared to the same period of last year. Return on shareholder equity was 25.0% for the twelve months ended June 30 2007.

“Allstate’s multi-faceted strategy continues to deliver solid results and sustained profitability,” said Thomas J. Wilson, Allstate’s president and chief executive officer.

“We’re focusing on the consumer by offering differentiated products and increasing our sophistication in pricing and marketing. At the same time, we’re driving higher enterprise-wide returns, continuing to mitigate exposure to mega-catastrophe risk and controlling costs.”