Allstate beats as $781mn cat loss fails to derail gain

Personal lines giant Allstate reported operating income that
nearly doubled in the first quarter as heavy hailstorm losses were
offset by an otherwise light winter.
The US insurer had preannounced a $781mn pre-tax catastrophe
loss in the first three months of the year but said the effect on
its bottom line was dampened by an otherwise gentle quarter.
"Significant catastrophe losses from large hail storms were
offset by favorable winter weather that reduced the number of auto
accidents," said cha