Slide 1: Investor Supplement Fourth Quarter 2022
Investor Supplement Fourth Quarter 2022 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 13 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 14 Policies in Force 5 Segment Results 15 Results 6 Profitability Meas
Slide 3: Condensed Consolidated Statements of Operations
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 11,900$ 11,661$ 11,362$ 10,981$ 10,852$ 10,615$ 10,444$ 10,307$ 45,904$ 42,218$ 435 463 466 469 459 460 447 455 1,833 1,821 660 561 563 560 587 536 494 555
Slide 4: Contribution to Income
($ in millions, except per share data) Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 Contribution to income $ (310) $ (694) $ (1,042) $ 630 $ 790 $ 508 $ 1,595 $ (1,408) $ (1,416) $ 1,485 Net (gains) lo
Slide 5: Book Value per Common Share and Debt to Capital
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 $ 15,505 $ 15,703 $ 18,145 $ 21,242 $ 23,209 $ 24,759 $ 26,037 $ 24,649 267.0 269.1 274.3 279.7 284.7 292.6 301.6 304.0 $ 58.07 $ 58.35 $ 66.15 $ 75.95 $ 81.52 $ 84.62 $ 86.33 $ 81.08
Slide 6: Return on Allstate Common Shareholders' Equity
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 $ (1,416) $ (316) $ 886 $ 3,523 $ 1,485 $ 3,293 $ 3,911 $ 3,540 $ 23,209 $ 24,759 $ 26,037 $ 24,649 $ 28,247 $ 25,293 $ 25,016 $ 22,203 15,505 15,703 18,145 21,242 23,209 24,759 26,037
Slide 7: Policies in Force
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 26,034 26,131 26,192 26,071 25,916 25,654 25,614 25,453 7,260 7,237 7,197 7,165 7,159 7,138 7,111 7,090 4,936 4,930 4,919 4,894 4,866 4,848 4,816 4,774 311 310 311 312 315 319 322 325
Slide 8: Property-Liability Results
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 $ 11,480 $ 12,037 $ 11,509 $ 10,761 $ 10,301 $ 10,966 $ 10,323 $ 9,768 $ 45,787 $ 41,358 (67) (852) (599) (258) 121 (672) (312) (280) (1,776) (1,143) (33) (
Slide 9: Allstate Protection Profitability Measures
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 $ 7,774 $ 7,860 $ 7,470 $ 7,562 $ 6,864 $ 7,171 $ 6,818 $ 7,012 $ 30,666 $ 27,865 2,928 3,286 3,133 2,401 2,680 3,004 2,722 2,083 11,748 10,489 530 606 609
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 (%) 38 6.1 11.2 19 4.7 14.0 16 2.1 11.3 9 0.5 6.9 26 4.3 8.5 19 1.1 3.2 16 4.4 15.7 7 1.6 10.8 Number of locations Total brand (%) (3) Location specific (%) Number of l
Slide 11: Auto Profitability Measures
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 $ 7,774 $ 7,860 $ 7,470 $ 7,562 $ 6,864 $ 7,171 $ 6,818 $ 7,012 $ 30,666 $ 27,865 7,741 7,545 7,348 7,081 7,019 6,912 6,883 6,809 29,715 27,623 (974) (1,315
Slide 12: Auto Statistics
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 788 933 959 964 829 932 926 929 3,644 3,616 639 648 672 718 504 516 495 542 2,677 2,057 1,427 1,581 1,631 1,682 1,333 1,448 1,421 1,471 6,321 5,673 559 624
Slide 13: Allstate Brand Auto State Profitability
Number of States(2) Total brand premium (%) Location specific (%) (3) Number of States Total brand premium (%) Location specific (%) 6 1.5 14.2 16 19.3 7.5 4 5.9 9.2 7 8.1 10.5 41 92.6 11.5 28 72.6 15.6 Number of States Total brand premium (%) Location specific (%) Number of States Total brand premi
Slide 14: Homeowners Profitability Measures
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 $ 2,928 $ 3,286 $ 3,133 $ 2,401 $ 2,680 $ 3,004 $ 2,722 $ 2,083 $ 11,748 $ 10,489 2,847 2,776 2,686 2,603 2,602 2,522 2,411 2,392 10,912 9,927 212 245 (186)
Slide 15: Protection Services Segment Results
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 $ 742 $ 657 $ 670 $ 630 $ 716 $ 651 $ 692 $ 583 $ 2,699 $ 2,642 $ 520 $ 504 $ 488 $ 483 $ 462 $ 456 $ 435 $ 411 $ 1,995 $ 1,764 78 84 91 94 91 85 88 90 347
Slide 16: Allstate Health and Benefits Segment Results
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 $ 405 $ 433 $ 437 $ 438 $ 429 $ 436 $ 421 $ 428 $ 1,713 $ 1,714 30 30 29 31 30 24 26 27 120 107 125 90 92 95 111 85 83 80 402 359 19 17 16 17 18 18 19 19 69
Slide 17: Corporate and Other Segment Results
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 $ 23 (1) $ 23 $ 25 $ 24 $ 19 $ 1 $ 2 $ - $ 95 (1) $ 22 30 28 28 10 14 26 12 6 96 58 (63) (65) (75) (59) (57) (41) (28) (32) (262) (158) (2) - (1) - 9 (1) -
Slide 18: Investment Position and Results
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 $ 42,485 $ 41,715 $ 41,282 $ 40,745 $ 42,136 $ 39,989 $ 42,825 $ 40,594 $ 42,485 $ 42,136 4,567 4,723 4,681 5,315 7,061 3,807 3,059 3,154 4,567 7,061 762 83
Slide 19: Investment Position and Results by Strategy
Dec. 31, 2022 Sept. 30, 2022 June 30, 2022 March 31, 2022 Dec. 31, 2021 Sept. 30, 2021 June 30, 2021 March 31, 2021 Dec. 31, 2022 Dec. 31, 2021 48,114$ 47,364$ 47,457$ 47,480$ 48,589$ 49,386$ 51,367$ 49,422$ 48,114$ 48,589$ 4,112 4,283 4,259 4,915 6,689 3,455 2,676 2,787 4,112 6,689 519 469 485 548
Slide 20: Definitions of Non-GAAP Measures
• Net gains and losses on investments and derivatives • Pension and other postretirement remeasurement gains and losses • Business combination expenses and the amortization or impairment of purchased intangibles • Income or loss from discontinued operations • Gain or loss on disposition • Adjustment
Slide 21: Definitions of Non-GAAP Measures (continued)
Definitions of Non-GAAP Measures (continued) Protection Services adjusted earnings before taxes, depreciation and restructuring, is a non-GAAP measure, which is computed as adjusted net income (loss), excluding taxes, depreciation and restructuring. Adjusted net income (loss) is the GAAP measure tha
Slide 22: 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