Allstate Corporation (the) · NYSE:ALL
Allstate Corporation (the) — Q1 2024 Earnings Presentation
16 slides from Allstate Corporation (the)'s earnings presentation, May 2, 2024
Slide 1: The Allstate Corporation First Quarter 2024 Earnings Presentation
The Allstate Corporation First Quarter 2024 Earnings Presentation 05.02.2024
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's Strategy To Create Shareholder Value
Allstate’s Strategy To Create Shareholder Value Increase Personal First quarter 2024 highlights Property-Liability Market Share • Net income of $1.2 billion in the first quarter o Successfully executing auto insurance profit improvement plan o Homeowners insurance generating attractive returns; firs
Slide 4: Broad-Based Profit Improvement
Broad-Based Profit Improvement Property-Liability premiums increased 10.9%, or $1.3 billion, driven by rate increases Three months ended March 31 ($ in millions, except per share data and ratios) 2024 2023 Change Total revenues $15,259 $13,786 10.7% Property-Liability insurance premiums 12,900 11,63
Slide 5: Property-Liability Generated An Attractive Combined Ratio
Property-Liability Generated An Attractive Combined Ratio Earned premium increase driven by higher auto and homeowners insurance rates, partially offset by a decline in policies in force Property-Liability statistics Property-Liability combined ratio components ($ in millions) Three months ended 108
Slide 6: Auto Insurance Margins Improved
Auto Insurance Margins Improved Higher average premium from implemented rates and expense efficiencies outpacing moderating underlying loss costs per policy in 2024 Allstate Protection auto underlying combined ratio* – adjusted 2022 and Allstate Protection auto premium and underlying loss and 2023 q
Slide 7: Auto Insurance Underlying Profitability Attractive in Approximately Two-Thirds of Markets
Auto Insurance Underlying Profitability Attractive in Approximately Two-Thirds of Markets Continuing to pursue and implement necessary rate increases Allstate brand auto countrywide premium distribution by Allstate brand auto – Implemented rate increases underlying combined ratio* segment(1) Q1 Q2 Q
Slide 8: Auto Policies In Force Decline For Allstate Brand While National General Increases
Auto Policies In Force Decline For Allstate Brand While National General Increases Rate of decline improved in the first quarter compared to year end 2023 Allstate Protection auto policies in force (in millions) Allstate brand auto renewal ratio -2.0% • Renewal ratio of 86.0 increased 0.3 points in
Slide 9: Homeowners Insurance Generates Strong Returns
Homeowners Insurance Generates Strong Returns Allstate Protection homeowners combined ratio components 119.0 2014-2023 Average: ~92 106.8 96.7 93.6 90.0 93.6 90.6 88.4 51.4 39.5 82.1 28.0 23.3 29.4 29.5 24.8 27.7 16.6 68.7 70.3 67.3 67.6 61.1 64.2 63.6 62.3 65.5 2017 2018 2019 2020 2021 2022 2023 Q1
Slide 10: Property-Liability Growth Opportunities
Property-Liability Growth Opportunities Key Growth Levers: Near-Term Focus Areas: Improve Customer • Auto and homeowners insurance renewal ratios stabilizing following decline due to significant Retention price increases in 2022-2023 Reduce New Business • Unwound auto underwriting restrictions in st
Slide 11: Net Investment Income Increased Due to Higher Yields, Duration Extension and Improved Performance-based Results
Net Investment Income Increased Due to Higher Yields, Duration Extension and Improved Performance-based Results Portfolio repositioning into higher market yields Duration positioning has been stable since fourth continues to sustainably increase Market-based income quarter of 2023 following five qua
Slide 12: Protection Services Had Strong Results
Protection Services Had Strong Results Protection Plans revenues increased 20.5% compared to prior year, reflecting expanded products and international growth Protection Services revenues(1) Protection Services results ($ in millions) ($ in millions) 753 Three months ended 697 719 671 686 38 Mar 31
Slide 13: Health and Benefits Businesses Generating Profitable Growth
Health and Benefits Businesses Generating Profitable Growth Revenue was 8.9% higher than prior year driven by growth in Adjusted net income was consistent with prior year as individual health and group health individual health fee income growth was offset by lower employee benefits income Health and
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 o Improved auto insurance profitability o Growth in auto and homeowners insurance policies in force Leveraging Allstate brand, o Proactive risk and return management of custom
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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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