Allstate Q1 2021 Earnings Report
Key Takeaways
Allstate reported a net loss of $1.4 billion for the quarter, primarily due to a $4.0 billion loss from the divestitures of the life and annuity businesses. However, adjusted net income was $1.9 billion, representing a 23.2% return on equity. Total revenues increased by 26.2% to $12.5 billion, driven by the acquisition of National General and growth in Protection Services.
Total revenues increased 26.2% to $12.5 billion, primarily reflecting the acquisition of National General and higher earned premiums from Protection Services.
Net loss applicable to common shareholders was $1.4 billion, driven by a $4 billion loss from the sale of Allstate Life Insurance Company and Allstate Life Insurance Company of New York.
Adjusted net income increased to $1.9 billion, or $6.11 per diluted share, reflecting increased underwriting income and higher net investment income.
Property-Liability written premium increased 13.7% to $9.8 billion, primarily driven by the acquisition of National General.
Allstate
Allstate
Forward Guidance
Allstate continues to generate strong returns on capital, invest in growth and return significant cash to shareholders.