Slide 1: Investor Supplement First Quarter 2024
Investor Supplement First Quarter 2024 The condensed consolidated financial statements and financial exhibits included herein are unaudited and should be read in conjunction with the consolidated financial statements and notes thereto included in the most recent Annual Report on Form 10-K and Quarte
Slide 2: Table of Contents
Condensed Consolidated Statements of Operations 1 Segment Results 11 Contribution to Income 2 Book Value per Common Share and Debt to Capital 3 Return on Allstate Common Shareholders' Equity 4 Segment Results and Other Statistics 12 Policies in Force 5 Segment Results 13 Results 6 Profitability Meas
Slide 3: Condensed Consolidated Statements of Operations
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 13,512$ 13,188$ 12,839$ 12,470$ 12,173$ 478 467 463 453 463 669 650 592 597 561 764 604 689 610 575 (164) (77) (86) (151) 14 15,259 14,832 14,497 13,979 13,786 9,501 8,780 10,237 11,727 10,326 296 286 262 258 265 1,939 1,904 1,
Slide 4: Contribution to Income
(In millions, except per share data) March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Contribution to income 1,189$ 1,460$ (41)$ (1,389)$ (346)$ Net (gains) losses on investments and derivatives 164 77 86 151 (14) Pension and other postretirement remeasurement (gains) losses
Slide 5: Book Value per Common Share and Debt to Capital
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 16,638$ 15,769$ 12,592$ 13,516$ 15,524$ 267.2 265.5 263.5 263.5 264.7 62.27$ 59.39$ 47.79$ 51.29$ 58.65$ 16,638$ 15,769$ 12,592$ 13,516$ 15,524$ (813) (597) (2,509) (1,843) (1,575) 17,451$ 16,366$ 15,101$ 15,359$ 17,099$ 267.2
Slide 6: Return on Allstate Common Shareholders' Equity
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 1,219$ (316)$ (2,079)$ (2,723)$ (2,374)$ 15,524$ 15,518$ 15,713$ 18,094$ 21,105$ 16,638 15,769 12,592 13,516 15,524 16,081$ 15,644$ 14,153$ 15,805$ 18,315$ 7.6 % (2.0) % (14.7) % (17.2) % (13.0) % 1,960$ 251$ (1,641)$ (2,266)$
Slide 7: Policies in Force
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 25,207 25,283 25,376 25,520 25,733 7,364 7,338 7,297 7,268 7,262 4,849 4,863 4,884 4,890 4,913 273 284 296 307 307 37,693 37,768 37,853 37,985 38,215 20,038 20,326 20,546 20,821 21,142 6,681 6,652 6,627 6,614 6,621 5,169 4,957
Slide 8: Property-Liability Results
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 13,183$ 12,640$ 13,304$ 12,620$ 11,783$ (237) (42) (1,082) (753) (127) (46) 3 48 54 (21) 12,900 12,601 12,270 11,921 11,635 430 410 393 389 353 (9,349) (8,621) (10,077) (11,575) (10,180) (1,608) (1,589) (1,533) (1,496) (1,452)
Slide 9: Allstate Protection Results
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 9,357$ 8,570$ 8,770$ 8,269$ 8,349$ 2,874 3,144 3,525 3,381 2,534 660 620 676 675 548 157 153 140 200 227 135 153 193 95 125 13,183$ 12,640$ 13,304$ 12,620$ 11,783$ 8,778$ 8,566$ 8,345$ 8,121$ 7,908$ 3,154 3,077 2,969 2,883 2,81
Slide 10: Impact of Net Rate Changes Implemented on Premiums Written
Number of locations (1) Total brand (%) (2) (3) Location specific (%) (4) Number of locations Total brand (%) (3) Location specific (%) 27 2.4 8.4 33 6.9 13.5 15 3.4 11.7 20 1.8 9.0 27 4.1 9.6 39 4.0 10.2 12 1.6 14.0 17 4.5 18.5 Number of locations Total brand (%) (3) Location specific (%) Number of
Slide 11: Auto Profitability Measures and Statistics
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 9,357$ 8,570$ 8,770$ 8,269$ 8,349$ 8,778 8,566 8,345 8,121 7,908 351 93 (178) (678) (346) 75.4 78.5 81.4 87.9 83.4 (1.2) (0.3) (2.6) (4.2) (1.2) 0.7 (1.7) (0.3) (1.4) (0.1) 74.9 76.5 78.5 82.3 82.1 20.6 20.4 20.7 20.4 21.0 (0.4
Slide 12: Homeowners Profitability Measures and Statistics
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 2,874$ 3,144$ 3,525$ 3,381$ 2,534$ 3,154 3,077 2,969 2,883 2,810 564 1,169 (131) (1,307) (534) 60.3 39.4 82.4 125.0 98.5 (17.6) (0.7) (29.6) (75.9) (51.6) 1.3 0.3 (1.5) (1.4) 0.5 44.0 39.0 51.3 47.7 47.4 21.8 22.6 22.0 20.3 20.
Slide 13: Protection Services Segment Results
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 627$ 728$ 658$ 658$ 619$ 612$ 587$ 569$ 549$ 538$ 85 76 75 84 84 35 36 34 35 33 21 20 19 18 16 (158) (160) (166) (153) (153) (289) (279) (269) (259) (251) (234) (225) (225) (218) (221) (1) (2) (3) - (1) (17) (49) (8) (15) (11)
Slide 14: Allstate Health and Benefits Segment Results and Other Statistics
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 478$ 467$ 463$ 453$ 463$ 134 141 104 101 101 23 22 20 21 19 (296) (286) (262) (258) (265) (42) (36) (39) (34) (41) (225) (232) (197) (210) (203) (1) (1) (2) - (4) (15) (15) (18) (16) (14) 56$ 60$ 69$ 57$ 56$ (9) (8) (8) (9) (8)
Slide 15: Corporate and Other Segment Results
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 20$ 20$ 20$ 23$ 23$ 18 24 23 27 31 (42) (53) (39) (45) (1) (48) (1) (3) (8) (1) (1) (97) (107) (88) (98) (86) 25 43 18 20 18 (29) (29) (36) (37) (26) (106)$ (105)$ (110)$ (111)$ (89)$ (1) The Allstate Corporation Corporate and
Slide 16: Investment Position and Results
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 50,777$ 48,865$ 46,771$ 45,550$ 44,103$ 2,383 2,411 2,419 2,290 2,174 815 822 830 823 781 8,562 8,380 8,363 8,150 7,971 4,318 5,144 3,368 5,137 6,722 1,004 1,055 1,608 1,718 1,724 67,859$ 66,677$ 63,359$ 63,668$ 63,475$ 526$ 49
Slide 17: Investment Position and Results by Strategy
March 31, 2024 Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 56,035$ 55,025$ 51,661$ 52,191$ 52,337$ 1,722 1,768 1,986 1,850 1,765 158 141 198 201 214 57,915$ 56,934$ 53,845$ 54,242$ 54,316$ 7,891$ 7,752$ 7,551$ 7,381$ 7,168$ 2,053 1,991 1,963 2,045 1,991 9,944$ 9,743$ 9,514$ 9,426$ 9,15
Slide 18: Definitions of Non-GAAP Measures
• Net gains and losses on investments and derivatives • Pension and other postretirement remeasurement gains and losses • Amortization or impairment of purchased intangibles • Gain or loss on disposition • Adjustments for other significant non-recurring, infrequent or unusual items, when (a) the nat
Slide 19: Definitions of Non-GAAP Measures (continued)
Definitions of Non-GAAP Measures (continued) Adjusted underwriting expense ratio is a non-GAAP ratio, which is computed as the difference between the expense ratio and the effect of advertising expense, restructuring and related charges and amortization or impairment of purchased intangibles on the
Slide 20: Glossary
Glossary Consolidated Operations Accident and health insurance premiums and contract charges are reported in the Allstate Health and Benefits segment and include employer voluntary benefits, group health and individual health products. Adjusted net income is the GAAP segment measure used for the Pro