Allstate Q1 2020 Earnings Report
Key Takeaways
Allstate's Q1 2020 results showed strong operating performance amidst the coronavirus pandemic. The company reported revenues of $10.1 billion and a 4.4% increase in Property-Liability insurance premiums earned. Net income was $513 million, and adjusted net income was $1.14 billion, or $3.54 per common share, reflecting lower catastrophe losses.
Allstate provided a Shelter-in-Place Payback of over $600 million to auto insurance customers.
Employees and agents reacted quickly, with over 95% working from home to serve customers.
Public equity holdings were reduced in February by $4 billion to adjust risk and return profile.
Shareholders benefited by receiving $670 million of cash through common share repurchases and dividends.
Allstate
Allstate
Allstate Revenue by Segment
Forward Guidance
Allstate's capital position and liquidity remain strong, including $3.4 billion in parent holding company deployable assets and $8.8 billion in highly liquid securities generally saleable in one week. The company generated strong returns on capital and plan to continue share repurchases under the current $3 billion program, which is expected to be completed by the end of 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income