The Allstate Corporation Investor Supplement Fourth Quarter 2025 The condensed consolidated financial statements and financial exhibits included herein are unaudited and should be read in conjunction with the consolidated financial statements and notes thereto included in the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The results of operations for interim periods should not be considered indicative of results to be expected for the full year. Measures used in these financial ...

Core Insights - Planet Insurance Agency has formed a strategic franchise partnership with Goosehead Insurance, aiming to enhance the homebuying experience by providing a customer-first approach focused on choice, speed, and service [1][4] Group 1: Partnership Overview - The collaboration allows customers to connect with licensed insurance agents who guide them through coverage options in a streamlined process, enhancing clarity and confidence [2] - The partnership is particularly relevant as homeowners' insurance costs are rising, with many states experiencing double-digit percentage increases in average premiums in 2025 [3] Group 2: Customer Benefits - Customers can compare policy options from over 200 top-tier insurance carriers, enabling them to understand key tradeoffs and select coverage that fits their needs and budget [4] - The partnership aims to simplify the insurance process for both new and existing homeowners, helping them address coverage considerations earlier and find the best value [5] Group 3: Company Profiles - Planet Insurance focuses on providing stability and personal protection, connecting customers with licensed agents who offer transparent support and 24/7 digital assistance [6] - Goosehead Insurance, a rapidly growing independent agency, emphasizes consumer-centric service and represents over 200 insurance companies, aiming to deliver extraordinary value through broad product choice [7]

4Q25 Earnings Call Presentation1 John McCallion Chief Financial Officer and Head of MetLife Investment Management 1 These slides highlight information in MetLife, Inc.'s earnings release, quarterly financial supplement and other prior public disclosures. 1 These slides highlight information in MetLife, Inc.'s earnings release, quarterly financial supplement and other prior public disclosures. 1 Table of contents Page No. | Key 2025 highlights | 3 | | --- | --- | | Adjusted earnings by segment and Corporate ...

Financial Data and Key Metrics Changes - For Q4 2025, gross written premiums were $4.3 billion, an 8.6% decrease in constant dollars, primarily due to the exit from the commercial retail business and targeted reductions in U.S. casualty lines [15][4] - Net investment income increased to $562 million, significantly up from the prior year, driven by growth in the fixed income portfolio and strong performance from limited partnerships [22][4] - The combined ratio for the quarter was 98.4%, including $216 million of catastrophe losses and $122 million of adverse development cover premium [15][4] - The attritional combined ratio improved to 89.9%, reflecting the underlying strength of the book and focus on margin development [16][4] Business Line Data and Key Metrics Changes - The reinsurance business generated $255 million of underwriting income, with a disciplined approach leading to strong performance [5][4] - Gross written premiums in reinsurance decreased by 3.6% in constant dollars, while property cat XOL grew by 10.1% when excluding reinstatement premiums [18][4] - In the insurance segment, gross premiums written decreased by 20.1% in constant dollars to $1.1 billion, with growth in accident and health offset by lower retention in the commercial retail business [19][4] Market Data and Key Metrics Changes - Market conditions softened in the January 1 renewals, with property cat rates down an average of 10% globally, while remaining above required technical prices [5][4] - The company retained over 95% of enforced premium with top-tier accounts, while selectively reducing exposure to less profitable deals [6][4] - Attractive opportunities were noted in Asia, particularly in the new India branch and targeted specialty lines [7][4] Company Strategy and Development Direction - The company simplified operations, reduced reserve risk, reshaped the portfolio, and strengthened the balance sheet in 2025, positioning itself for improved performance [3][4] - The divestiture of the commercial retail business is expected to create short-term pressure on the group expense ratio, but this is anticipated to subside in future quarters [9][4] - The focus will be on driving underwriting income growth rather than merely increasing top-line revenue, with a broad appetite for various risks while maintaining depth in expertise [59][4] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning despite challenges in the operating environment, including social inflation and legal system abuses [11][4] - The stock price does not reflect the company's value, leading to prioritization of share repurchases as a use of excess capital [12][4] - The company expects to generate significant levels of net income in 2026, supporting ongoing buybacks and capital management strategies [41][4] Other Important Information - The company completed all reserve studies for the year, with robust positions in reinsurance driven by short-tail and specialty lines [21][4] - The attritional loss ratio improved to 68.6% in the insurance segment, with a disciplined approach to setting loss picks in U.S. casualty lines [20][4] - The company plans to report three segments beginning in 2026: treaty reinsurance, global wholesale and specialty insurance, and the other segment encompassing the exited commercial retail business [21][4] Q&A Session Summary Question: What is the expected expense ratio for the Global Wholesale and Specialty business? - Management expects the expense ratio to be on the lower end of 6% as they enter 2027, with significant improvements anticipated over time [29][30] Question: How does the company view reinsurance pricing and market share? - Management anticipates rates to remain under pressure, with a focus on maintaining adequate returns rather than pursuing market share aggressively [32][40] Question: What is the company's capital position and approach to buybacks? - The capital position is strong, with expectations for significant excess capital to support ongoing buybacks, particularly given the current discounted share price [41][42] Question: Is the company considering M&A opportunities? - While M&A is an option, any potential transactions would need to compete with the high return on capital from share repurchases, and would likely be small and strategic [76][77]

Aflac (NYSE:AFL) Q4 2025 Earnings call February 05, 2026 08:00 AM ET Speaker8Good morning, everyone, and welcome to the Aflac Incorporated Fourth Quarter 2025 Earnings Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press Star and then one on your touchtone phone. To withdraw your qu ...

Core Insights - Principal Financial Group, Inc. (PFG) is anticipated to show improvements in both revenue and earnings for the fourth quarter of 2025, with revenue expected to reach $4.11 billion, reflecting a 0.7% increase year-over-year [1] - The earnings consensus estimate is set at $2.23 per share, indicating a year-over-year increase of 14.9%, with a 0.4% upward revision in the past 60 days [2] Financial Performance Expectations - The fourth-quarter results are likely to demonstrate strong performance in PRT, solid underwriting results, and overall business growth [5] - Operating revenues are expected to rise due to increased premiums and fees in Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection [5] - Investment Management is projected to benefit from higher management fee revenues due to increased average assets under management (AUM) and disciplined expense management [6] Investment Income and Market Performance - Investment income is expected to improve from higher average invested assets in fixed maturities and increased income from derivatives and alternative investments for U.S. operations [7] - Assets under management are likely to benefit from strong market performance and positive net cash flow [8] Expense Considerations - Expenses are anticipated to rise due to higher benefits, claims, and settlement expenses [8] Comparative Analysis - Other insurance stocks such as American International Group, Inc. (AIG) and Assurant, Inc. (AIZ) are also expected to show positive earnings trends, with AIG's earnings consensus at $1.89 per share (up 45.3% year-over-year) and AIZ's at $5.55 per share (up 15.8% year-over-year) [11][12]

Core Insights - Markel Group Inc. (MKL) reported fourth-quarter 2025 net operating earnings per share of $34.45, exceeding the Zacks Consensus Estimate by 34.7%, and reflecting a 68% year-over-year increase [1][8] - The company's total operating revenues reached $4 billion, marking a 7.6% increase year over year, driven by higher earned premiums and net investment income [2][8] - Markel's combined ratio improved by 300 basis points year over year to 92.7, indicating stronger underwriting performance across all segments [3][8] Quarterly Operational Update - Total operating revenues of $4 billion rose 7.6% year over year, attributed to higher earned premiums, net investment income, and other revenue streams [2] - Earned premiums increased 7.6% year over year to $2.2 billion in the quarter [2] - Net investment income grew 5.7% year over year to $257.6 million, surpassing the Zacks Consensus Estimate of $240 million [2] Expense Analysis - Total operating expenses increased 5.5% year over year to $3.4 billion, driven by higher losses, underwriting, and other operational costs [3] - The combined ratio improved by 300 basis points year over year to 92.7, reflecting enhanced underwriting performance [3] Segment Performance - Markel Insurance: Operating revenues increased 7% year over year to $2.4 billion, with adjusted operating income rising 31% to $398.7 million [4] - Industrial: Operating revenues rose 4% year over year to $1 billion, but adjusted operating income decreased 26% to $79.6 million [4] - Financial: Operating revenues surged 41% year over year to $224.1 million, with adjusted operating income increasing 58% to $107.1 million [4] Financial Update - As of December 31, 2025, Markel had investments, cash, and cash equivalents totaling $37.4 billion, a 9.3% increase from the end of 2024 [6] - Senior long-term debt decreased 0.6% year over year to $4.3 billion [6] - Shareholders' equity was reported at $18.6 billion, up 9.9% from the end of 2024 [7] Full-Year Highlights - Underwriting profit increased 25% year over year to $502.6 million [10] - Net income per share was $169.22, reflecting a decline of 15.1% year over year [10] - Total operating revenues grew 4.7% year over year to $15.5 billion, with the combined ratio improving by 100 basis points to 94.2 [10]

Core Viewpoint - Ryan Specialty has appointed Stephen Stewart as the Chief Executive Officer of Ryan Specialty Canada Limited, expanding his role from President & CEO of Stewart Specialty Risk Underwriting [1] Group 1: Company Developments - Stephen Stewart will lead the newly formed Canadian operating and holding entity for Ryan Specialty's underwriting management businesses in Canada [1]

Group 1 - Proposed legislation, the Retirement Simplification and Clarity Act, aims to allow workers aged 50 and older to roll over some or all of their 401(k) savings into an annuity, providing more investment options for older workers [1] - The bill seeks to simplify the rollover information provided to workers leaving a job, addressing the complexity and confusion surrounding distribution options [1] - Financial advisors caution that while annuities can provide guaranteed income, they are often complex, costly, and illiquid, making them potentially unsuitable for younger individuals or those needing quick access to funds [1] Group 2 - The bill would enable retirement plan sponsors to offer the option for older workers to convert part of their 401(k) savings into an individual retirement annuity, enhancing retirement security [1] - A Government Accountability Office report indicated that 80% of eligible 401(k) participants were unaware of their distribution options, highlighting the need for clearer communication regarding rollover choices [1] - Experts suggest that while annuities can create a reliable income stream, they should only constitute a portion of an individual's portfolio, with recommendations of around one-third allocated to annuities [1]

Investor Presentation Fourth Quarter 2025 Cautionary Note On Forward-Looking Statements and Non-GAAP Measures This presentation and the accompanying remarks contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These statements reflect management's current expectations based on assumptions we b ...