Aallstate(ALL) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenues for Q3 2025 reached $17.3 billion, a 3.8% increase from the prior year[5] - Net income applicable to common shareholders was $3.7 billion, compared to $1.2 billion in Q3 2024, reflecting strong operating results[5] - Adjusted net income was $3.0 billion, or $11.17 per diluted share, up from $1.0 billion in the prior year quarter[5] - Total revenues for Q3 2025 reached $17,255 million, a 3.8% increase from $16,627 million in Q3 2024[27] - Net income applicable to common shareholders for Q3 2025 was $3,717 million, compared to $1,161 million in Q3 2024, representing a 220.5% increase[27] - Adjusted net income for Q3 2025 was $2,976 million, up from $1,048 million in Q3 2024, reflecting a 184.5% increase[31] - Earnings per common share (diluted) for Q3 2025 was $13.95, significantly higher than $4.33 in Q3 2024, indicating a 222.5% increase[31] Insurance Operations - Policies in force increased to 209.5 million, driven by growth in Protection Plans and auto and homeowners insurance[2] - Property-Liability earned premiums rose to $14.5 billion, a 6.1% increase year-over-year, primarily due to higher average premiums[7] - Underwriting income for Property-Liability was $2.9 billion, compared to $495 million in the prior year quarter[7] - New property-liability products and expanded marketing efforts are expected to drive continued growth in the future[2] - The homeowners insurance combined ratio improved to 71.5, 26.7 points lower than the third quarter of 2024, due to lower catastrophe losses and higher average earned premiums[17] - The combined ratio for Allstate Protection - Auto Insurance decreased to 82.0% in Q3 2025 from 94.8% in Q3 2024, reflecting improved operational efficiency[38] - The combined ratio for Allstate Protection - Homeowners Insurance significantly improved to 71.5% in Q3 2025 from 98.2% in Q3 2024, driven by a reduction in catastrophe losses[39] - The combined ratio for the nine months ended September 30, 2025, was 89.4%, an improvement from 96.9% in the same period of 2024, indicating overall better performance year-over-year[38] Catastrophe Losses - Catastrophe losses decreased by 67.2% to $558 million compared to $1.7 billion in the prior year quarter[6] - Catastrophe losses decreased to $479 million, down $752 million from the prior year quarter, attributed to fewer and less severe events[17] - Catastrophe losses for the Property-Liability segment decreased to (3.8%) in Q3 2025 from (12.4%) in Q3 2024, contributing to the improved combined ratio[38] - The effect of catastrophe losses for Allstate Protection - Homeowners Insurance decreased to (12.3%) in Q3 2025 from (36.2%) in Q3 2024, highlighting a significant reduction in impact from catastrophic events[39] Investment Income - Net investment income increased to $949 million, up $166 million from the prior year quarter, reflecting market-based portfolio growth[19] - Market-based investment income was $780 million, a 10.2% increase compared to the prior year quarter, due to increased asset balances[22] - Net investment income for Q3 2025 was $949 million, an increase from $783 million in Q3 2024, marking a 21.2% rise[27] Shareholder Returns - Total estimated statutory surplus in the insurance companies rose to $22.5 billion, with $624 million returned to common shareholders through share repurchases and dividends[21]