US personal lines insurer Allstate has registered 44.7% decrease in net income for the fourth quarter of 2012, which stood at $394m, or $0.81 per diluted share, against $712m, or $1.4, during the same period last fiscal.

For the quarter ended on 31 December 2012, its consolidated revenues stood at $8.5bn, up by 3.8% from $8.2bn during the year ago quarter.

Operating income was $289m, or $0.59 per diluted share, versus $735m, or $1.45 per diluted share during the corresponding period earlier year.

Allstate Corporation chairman, president and chief executive officer Thomas Wilson said, "Allstate had a good finish to a strong year despite the costs incurred in the fourth quarter related to Superstorm Sandy."

Catastrophe losses primarily attributable to Sandy resulted in the decline in net and operating income for the quarter, partially offset by a 4.0 point improvement in the underlying combined ratio.

Its total net written premium was $6.64bn, with an increase of 3.3% compared to earlier year.

The company serves nearly16 million households through brand names Allstate, Encompass, Esurance and Answer Financial and Allstate Financial business segment.