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Mar 31, 2025
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
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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