Allstate posts lower investment returns

US insurer Allstate posted a $127 million drop in net investment income in the first quarter primarily due to lower returns from limited partnership (LP) interests and higher expenses.

Investment income at the end of March stood at $786 million, down from $913 million at end-2017 and the lowest since the first quarter of last year, when it equalled $748 million.

Income attributable to LP interests and alternative investments plummeted $109 million quarter-on-quarter. Equity investments and

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