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This excerpt taken from the ALL 8-K filed Jan 31, 2007. Record Profitability “Virtually every area of our company had an outstanding year,” added Wilson. Operating income of $1.1 billion for the fourth quarter was 15 percent above last year’s fourth quarter result reflecting the operational strength of our talented employees. The Property-Liability combined ratio for the year was 83.6 reflecting our pricing and claims expertise and the benefits of low claim frequencies. We also had a much needed relief from mega-catastrophes with total catastrophe losses in the quarter of $279 million versus $657 million in the fourth quarter of 2005. Catastrophe losses for the year were $810 million, $4.9 billion below the losses realized due largely to Hurricanes Katrina, Rita and Wilma in 2005. Allstate Financial earned $142 million for the quarter and a record $594 million for the year and is making progress in raising returns on new business. |
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