Allstate Corporation (The) (ALL) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

New business by channel for the second quarter of twenty twenty three and the most recent quarter. Auto insurance new business increased to 2,300,000 items in the quarter versus one point five million three years ago, which is balanced between all channels, Allstate agents, independent agents and direct sales via phone or web. The bottom chart shows a similar pattern in homeowners insurance with new business increasing by 46.8% to 411,000 policies, many of which are bundled with auto insurance, particularly in the Allstate agent channel. Overall, new business growth highlights the benefits of having the broadest distribution in the industry and new products with sophisticated pricing and risk segmentation. Growth rates by year are shown on the right side of the slide. Auto insurance policy growth in the second quarter turned positive last year after the pandemic related growth restrictions and was 2.8% this quarter. In homeowners insurance, growth has been consistently positive and was 2.9% this quarter. The bottom line is that transformative growth is working. Moving to slide 11, protection services is an important part of how Allstate expands protection and leverages capabilities to create value in more parts of customers' lives. The segment has 177,000,000 policies in force, contributing $3,400,000,000 to our top line and generating over $200,000,000 in adjusted net income in the last twelve months. Protection services extends Allstate's brand, customer relationships, distribution network and technology capabilities into adjacent markets. Allstate protection plans are distributed through over 30 major retailers, such as Walmart, Costco and Home Depot, as well as a growing presence in international markets. This gives us access to customers at the point of purchase...