Deficit for Allstate

The fall of the bank Lehman Brothers is still causing damages. It is now the turn of America's number one personal line insurer , Allstate, to announce losses of 1.13 billion USD for the fourth quarter of 2008.

This deficit is accounted for by the depreciated assets generated by its life operations.

Allstate has also declared that it is unable to meet the next term interests resulting from a “Cat Bond” underwritten to cover hurricanes.

The suppression of 1000 jobs is part of the strategy adopted by the American insurer to improve a situation that is already compromising.