Allstate Q1 2024 Earnings Report
Key Takeaways
Allstate reported a significant profit improvement in Q1 2024, driven by strong operating capabilities, decisive actions to improve shareholder value, and lower catastrophe losses. Revenues reached $15.3 billion, and net income was $1.2 billion, with adjusted net income at $5.13 per diluted common share.
Auto profitability was enhanced as a growing number of states achieved targeted margin levels.
Industry leading home insurance capabilities, when combined with lower catastrophe losses, further improved profitability.
Investment income increased primarily due to higher yields and extension of fixed income maturities.
Allstate Protection Plans’ revenues increasing by over 20% due to an expanded product set and international growth.
Allstate
Allstate
Forward Guidance
This news release contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty.