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Mar 31
Allstate Q1 2025 Earnings Report
Allstate reported strong top-line growth despite record catastrophe losses in Q1 2025.
Key Takeaways
Allstate delivered $16.5B in total revenue and $949M in adjusted net income in Q1 2025, driven by premium increases and reinsurance recoveries, despite $3.3B in gross catastrophe losses.
Total revenue increased 7.8% year-over-year to $16.5B
Net income was $566M despite $3.3B in gross catastrophe losses
Adjusted EPS was $3.53, reflecting strong investment income and insurance operations
Policies in force grew 6.7% to over 210 million
Allstate
Allstate
Allstate Revenue by Segment
Revenue by Segment
Allstate Prot. Plans Revenue
CapyFin.comDealer Services Revenue
CapyFin.comRoadside Services Revenue
CapyFin.comArity Revenue
CapyFin.comIdentity Protection Revenue
CapyFin.com Forward Guidance
Allstate expects continued growth in policies and improved profitability through pricing discipline and capital deployment, though catastrophe volatility remains a risk.
Positive Outlook
- Auto and homeowners policies in force increased sequentially
- Strong investment income supports returns
- Reinsurance recoveries helped mitigate catastrophe loss volatility
- Capital position strengthened by sale of Employer Voluntary Benefits business
- Ongoing expansion of Allstate Protection Plans domestically and internationally
Challenges Ahead
- Record catastrophe losses impacted underwriting income
- Homeowners segment posted an underwriting loss
- Group Health margins declined due to increased utilization
- Performance-based investment income declined slightly
- Ongoing exposure to weather and climate-related risk events