Slide 1: Investor Supplement Fourth Quarter 2023
Investor Supplement Fourth Quarter 2023 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 Quart
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
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 13,188$ 12,839$ 12,470$ 12,173$ 11,900$ 11,661$ 11,362$ 10,981$ 50,670$ 45,904$ 467 463 453 463 436 463 465 468 1,846 1,832 650 592 597 561 660 561 563 560
Slide 4: Contribution to Income
(In millions, except per share data) Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 Contribution to income 1,460$ (41)$ (1,389)$ (346)$ (303)$ (685)$ (1,040)$ 634$ (316)$ (1,394)$ Net (gains) losses on i
Slide 5: Book Value per Common Share and Debt to Capital
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 15,769$ 12,592$ 13,516$ 15,524$ 15,518$ 15,713$ 18,094$ 21,105$ 265.5 263.5 263.5 264.7 267.0 269.1 274.3 279.7 59.39$ 47.79$ 51.29$ 58.65$ 58.12$ 58.39$ 65.96$ 75.46$ 15,769$ 12,592$
Slide 6: Return on Allstate Common Shareholders' Equity
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 (316)$ (2,079)$ (2,723)$ (2,374)$ (1,394)$ (294)$ 913$ 3,545$ 15,518$ 15,713$ 18,094$ 21,105$ 22,974$ 24,515$ 25,774$ 24,421$ 15,769 12,592 13,516 15,524 15,518 15,713 18,094 21,105 15
Slide 7: Policies in Force
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 25,283 25,376 25,520 25,733 26,034 26,131 26,192 26,071 7,338 7,297 7,268 7,262 7,260 7,237 7,197 7,165 4,863 4,884 4,890 4,913 4,936 4,930 4,919 4,894 284 296 307 307 311 310 311 312
Slide 8: Property-Liability Results
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 12,640$ 13,304$ 12,620$ 11,783$ 11,480$ 12,037$ 11,509$ 10,761$ 50,347$ 45,787$ (42) (1,082) (753) (127) (67) (852) (599) (258) (2,004) (1,776) 3 48 54 (21)
Slide 9: Allstate Protection Results
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 8,570$ 8,770$ 8,269$ 8,349$ 7,774$ 7,860$ 7,470$ 7,562$ 33,958$ 30,666$ 3,144 3,525 3,381 2,534 2,775 3,145 3,008 2,281 12,584 11,209 620 676 675 548 530 60
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 (%) 33 6.9 13.5 25 2.0 5.9 20 1.8 9.0 12 2.1 6.5 39 4.0 10.2 33 3.3 6.2 17 4.5 18.5 11 1.2 17.6 Number of locations Total brand (%) (3) Location specific (%) Number of
Slide 11: Auto Profitability Measures and Statistics
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 8,570$ 8,770$ 8,269$ 8,349$ 7,774$ 7,860$ 7,470$ 7,562$ 33,958$ 30,666$ 8,566 8,345 8,121 7,908 7,741 7,545 7,348 7,081 32,940 29,715 93 (178) (678) (346) (
Slide 12: Homeowners Profitability Measures and Statistics
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 3,144$ 3,525$ 3,381$ 2,534$ 2,775$ 3,145$ 3,008$ 2,281$ 12,584$ 11,209$ 3,077 2,969 2,883 2,810 2,720 2,642 2,566 2,490 11,739 10,418 1,169 (131) (1,307) (5
Slide 13: Protection Services Segment Results
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 728$ 658$ 658$ 619$ 742$ 657$ 670$ 630$ 2,663$ 2,699$ 587$ 569$ 549$ 538$ 520$ 504$ 488$ 483$ 2,243$ 1,995$ 76 75 84 84 78 84 91 94 319 347 36 34 35 33 31 3
Slide 14: Allstate Health and Benefits Segment Results
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 467$ 463$ 453$ 463$ 436$ 463$ 465$ 468$ 1,846$ 1,832$ 141 104 101 101 125 90 92 95 447 402 22 20 21 19 19 17 16 17 82 69 (286) (262) (258) (265) (257) (252)
Slide 15: Corporate and Other Segment Results
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 20$ 20$ 23$ 23$ 23$ (2) 23$ 25$ 24$ 86$ 95$ (2) 24 23 27 31 30 28 28 10 105 96 (53) (39) (45) (1) (48) (63) (65) (75) (59) (185) (1) (262) (3) (8) (1) (1) (
Slide 16: Investment Position and Results
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 48,865$ 46,771$ 45,550$ 44,103$ 42,485$ 41,715$ 41,282$ 40,745$ 48,865$ 42,485$ 2,411 2,419 2,290 2,174 4,567 4,723 4,681 5,315 2,411 4,567 822 830 823 781
Slide 17: Investment Position and Results by Strategy
Dec. 31, 2023 Sept. 30, 2023 June 30, 2023 March 31, 2023 Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2023 Dec. 31, 2022 55,025$ 51,661$ 52,191$ 52,337$ 48,114$ 47,364$ 47,457$ 47,480$ 55,025$ 48,114$ 1,768 1,986 1,850 1,765 4,112 4,283 4,259 4,915 1,768 4,112 141 198 201 214
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