Allstate Corporation (the) · NYSE:ALL
Allstate Corporation (the) — Q3 2024 Earnings Presentation
16 slides from Allstate Corporation (the)'s earnings presentation, Oct 31, 2024
Slide 1: The Allstate Corporation Third Quarter 2024 Earnings Presentation
The Allstate Corporation Third Quarter 2024 Earnings Presentation 10.31.2024
Slide 2: Forward-looking statements and non-GAAP financial information
Forward-looking statements and non-GAAP financial information This presentation contains forward-looking statements Additional information on factors that could cause results and information. This presentation also contains non- to differ materially from this presentation is available in the GAAP me
Slide 3: Allstate Had Strong Operating Results While Implementing Growth Strategy
Allstate Had Strong Operating Results While Implementing Growth Strategy Allstate’s Strategy To Create Shareholder Value Third quarter 2024 performance ➢ Total revenues up 14.7% to $16.6 billion Increase Personal Property-Liability Market Share ➢ Net income of $1.2 billion, adjusted net income* of $
Slide 4: Operational Execution Generated Excellent Returns
Operational Execution Generated Excellent Returns Higher revenues reflect increased Property-Liability earned premiums, realized capital gains on investments, and net investment income Three months ended Nine months ended September 30, September 30, ($ in millions, except per share data and ratios)
Slide 5: Property-Liability Underlying Margin Improvement More Than Offsets Higher Catastrophes
Property-Liability Underlying Margin Improvement More Than Offsets the Impact of Higher Catastrophes Earned premium increase driven by higher auto and homeowners insurance rates, partially offset by a decline in total policies in force Property-Liability statistics Property-Liability combined ratio
Slide 6: Auto Profit Improvement Has Restored Margins
Auto Profit Improvement Has Restored Margins Allstate Protection auto profitability 120.0 116.6 115.0 110.0 110.0 106.5 107.3 106.8 105.0 102.8 103.2 100.7 100.0 95.4 95.7 95.4 95.6 95.0 93.0 90.0 86.0 85.0 80.0 92.4 85.1 92.5 103.2 104.2 103.2 103.9 101.0 100.7 99.9 98.2 94.8 93.0 92.8 75.0 Year-en
Slide 7: Homeowners Insurance Generates Attractive Returns and Growth
Homeowners Insurance Generates Attractive Returns and Growth Improved underlying performance more than offsets higher catastrophe Net written premium growth of 15.5% in the losses of $1.2 billion in the third quarter, 40% above prior year third quarter primarily driven by higher average premiums and
Slide 8: Policy Growth Requires Increased Retention and New Business
Policy Growth Requires Increased Retention and New Business Auto policies in force decrease as retention losses offset increased new business. Homeowners growth driven by improved retention and increased new business Property-Liability policies in force – Third quarter, 2024 Variance to prior year A
Slide 9: Allstate Brand Auto Insurance Retention Impacted by Rate Increases
Allstate Brand Auto Insurance Retention Impacted by Rate Increases Customer retention declined by approximately 3 points since the first quarter of 2022 due to 40% increase in rates Allstate brand auto insurance(1) quarterly implemented rate and renewal ratio Renewal ratio 2024 year-to-date 85.5 202
Slide 10: Increased Auto Insurance New Business Supports Growth
Increased Auto Insurance New Business Supports Growth Third quarter new business increased 26% with approximately one third of production in each channel Allstate Protection auto insurance new issued applications Nine months ended September 30 Q3 2024 (in millions) 2021 2022 2023 2024 Var to PY Key
Slide 11: Portfolio Generated Strong Returns
Portfolio Generated Strong Returns Portfolio has increased $9.1 billion or Investment portfolio growth and a 60 bps higher 14% and the earned yield is 150 bps fixed income yield benefited Market-based income higher than the fourth quarter of 2021 Portfolio book value and earned yield Net investment
Slide 12: Protection Plans Is Delivering Profitable Growth
Protection Plans Is Delivering Profitable Growth Protection Plans revenues increased 2024 adjusted net income returns to 2022 levels as 23.1% compared to prior year growth offsets expansion investments Protection Plans revenue(1) Protection Plans adjusted net income ($ in millions) ($ in millions) 5
Slide 13: Employer Voluntary Benefits Divestiture Progressing
Employer Voluntary Benefits Divestiture Progressing Financial results Agreement to sell the Employer Voluntary Benefits business to StanCorp Financial Summary of transaction terms 2024 Net ($ in millions) 2023 YTD Assets • The Employer Voluntary Benefits business $ in billions advances Standard’s st
Slide 14: Allstate's Strategy To Create Shareholder Value
Allstate’s Strategy To Create Shareholder Value Increase Personal Property-Liability Market Share Shareholder value creation • Operational excellence Leveraging Allstate brand, customer base and capabilities • Transformative Growth investment for sustainable growth Expand Protection Services • Attra
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Slide 16: Forward-looking Statements
Forward-looking Statements This presentation contains “forward-looking statements” that anticipate o Business, Strategy and Operations (11) operations in markets that are results based on our estimates, assumptions and plans that are subject to highly competitive; (12) changing consumer preferences;
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