Allstate Second Quarter 2010 Results

The Allstate Corporation ALL today reported financial results for the second quarter of 2010: Allstate's second quarter 2010 operating income rose to $441 million compared to $297 million in the same period of 2009, reflecting improved results in both Property-Liability and Allstate Financial. Net income was $145 million in the second quarter of 2010 compared to $389 million in the second quarter of 2009 primarily due to realized capital losses in the 2010 quarter versus realized capital gains in the prior year period. Realized capital losses in the second quarter of 2010 reflect risk management actions, including derivative losses that were offset by increased portfolio valuations. Book value rose to $33.24 per share at June 30, 2010 compared to $32.26 at March 31, 2010 and $27.87 at June 30, 2009, reflecting higher shareholders' equity primarily resulting from increased market valuations for fixed income investments.