Allstate Q4 2020 Earnings Report
Key Takeaways
Allstate Corporation reported a net income of $2.6 billion and adjusted net income of $1.8 billion for the fourth quarter of 2020. The company saw a 21% increase in policies in force and maintained strong insurance underwriting margins. Total revenues increased by 4.8% to $12.0 billion, driven by strong performance-based investment income and realized gains.
Net income was $2.6 billion for the quarter and $5.5 billion for the full year.
Adjusted net income was $5.87 per share for the quarter and $14.73 for the year.
Policies in force increased 21% to 176 million.
Allstate Protection Plans is rapidly growing revenues and profits and expanding its total addressable market.
Allstate
Allstate
Forward Guidance
Allstate expects its long-term adjusted net income return on equity to be between 14% and 17% while generating higher growth in personal property-liability and expanding protection services.