Allstate leads insurers to best start since 2003

"Allstate Corp. is leading property and casualty insurers to the best start since 2003 amid a decline in tornadoes and forecasts for fewer major hurricanes. 

Twisters killed six people from April 1 to May 28, compared with 541 deaths in the two months last year, the U.S. National Weather Service said. Insured losses from severe weather in the United States were about $1 billion last month, lagging behind losses of roughly $16 billion from tornadoes and other severe weather in April and May of last year, broker Aon Plc estimated. 

Insurers that raised prices after last year's disasters are gaining as claims costs drop. Allstate's net income jumped to the highest since 2007 in the first quarter and operating profit at New York-based Travelers Cos. beat analysts' estimates. Companies may benefit further as forecasters predict a below average Atlantic hurricane season, which officially begins June 1..."