Financial Performance - Consolidated net income applicable to common shareholders decreased 52.4% to 566millioninQ12025comparedtoQ12024,primarilyduetohighercatastropheandrealizedcapitallosses[230].−Totalrevenuesincreased7.816.45 billion in Q1 2025 compared to Q1 2024, driven by premium rate increases and higher homeowners insurance policies in force [230]. - Allstate Protection underwriting income was 364millioninQ12025,downfrom903 million in Q1 2024, due to higher catastrophe losses of 2.20billioncomparedto731 million in the prior year [236]. - Protection Services adjusted net income was 55millioninQ12025,slightlyupfrom54 million in Q1 2024, primarily due to premium growth at Allstate Protection Plans [238]. - Allstate Health and Benefits adjusted net income decreased to 30millioninQ12025from56 million in Q1 2024, mainly due to increased benefit utilization [240]. Premiums and Underwriting - Premiums written increased 8.5% to 14.30billioninQ12025,reflectinghigherpremiumsinautoandhomeownersinsurance[237].−Premiumswrittenincreasedby8.41,114 million to 14,297millioninQ12025comparedtoQ12024[247].−Underwritingincomedecreasedby59.7539 million to 364millioninQ12025duetohighercatastrophelosses[247].−Catastrophelossesincreasedsignificantlyto2,202 million in Q1 2025 from 731millioninQ12024[247].−Thelossratioroseto76.0491 million to 9,848millioninQ12025comparedtoQ12024[251].−Homeownerspremiumswrittenincreasedby20.1579 million to 3,453millioninQ12025comparedtoQ12024[252].−Otherpersonallinespremiumswrittenincreasedby10.569 million to 729millioninQ12025comparedtoQ12024[257].−Commerciallinespremiumswrittendecreasedby40.163 million to 94millioninQ12025comparedtoQ12024duetostrategicdecisions[257].−PremiumswrittenintheProtectionServicesSegmentincreasedby4.830 million to 657millioninQ12025comparedtoQ12024[289].InvestmentandCapital−Investmentstotaled74.05 billion as of March 31, 2025, up from 72.61billionasofDecember31,2024[231].−Bookvalueperdilutedcommonshareincreased19.874.61 as of March 31, 2025, compared to 62.27asofMarch31,2024[232].−Totalcapitalresourcesincreasedto30.14 billion as of March 31, 2025, up from 29.53billionattheendof2024[333].−TheratioofdebttoAllstateshareholders′equityimprovedto36.73.25 billion in limited partnership interests as of March 31, 2025 [320]. Claims and Loss Ratios - The auto loss ratio decreased by 6.1 points to 69.3% in Q1 2025 compared to Q1 2024, driven by increased earned premiums and lower non-catastrophe losses [261]. - The homeowners loss ratio increased by 31.5 points to 91.8% in Q1 2025 compared to Q1 2024, primarily due to higher catastrophe losses [262]. - Catastrophe losses rose to 2.20billioninQ12025,anincreaseof1.47 billion from Q1 2024, with 1.06billionattributedtoCaliforniawildfires[266].−Thecommerciallineslossratiodecreasedby57.0pointsto58.4625 million from the sale of its employer voluntary benefits business, which closed on April 1, 2025 [225]. - The company anticipates a gain of approximately $450 million from the sale of its group health business, expected to close in 2025 [295]. - Forward-looking statements indicate potential risks related to market conditions, regulatory changes, and operational challenges that could impact future performance [350].
Aallstate(ALL)2025-04-30 20:23