Allstate Reports Operating Results Within Outlook and Improved Book Value per Share for 2010

The Allstate Corporation ALL today reported financial results for the fourth quarter and full year 2010. Net income for the 2010 year was $928 million, or $1.71 per diluted share, compared to $854 million in 2009. The increase was due to improved investment results and higher operating income from Allstate Financial, partially offset by lower Property-Liability operating income. Total operating income was $1.5 billion, or $2.84 per diluted share, in 2010 compared to $1.9 billion, or $3.48 per diluted share, in 2009. Allstate's fourth quarter 2010 net income was $296 million, or $0.55 per diluted share, compared to $518 million, or $0.96 per diluted share, in the fourth quarter of 2009. Total operating income was $271 million, or $0.50 per diluted share, in the fourth quarter of 2010 compared to $592 million, or $1.09 per diluted share, in the same period of 2009.