Financial Performance - Allstate's total revenue increased by 7.8% year-over-year to $16.5 billion[5] - Net Income was $566 million, and Adjusted Net Income reached $949 million ($3.53 per share)[5] - The Adjusted Net Income return on equity was 23.7% over the last twelve months[5] Property-Liability Underwriting - Property-Liability underwriting income was $360 million, a decrease of $538 million compared to the prior year[10] - The Property-Liability combined ratio was 97.4, an increase of 4.4 points[10] - Auto Insurance underwriting income was $816 million with a combined ratio of 91.3[10] - Homeowners Insurance reported an underwriting loss of $451 million with a combined ratio of 112.3, impacted by catastrophe losses[10] Catastrophe Losses and Reinsurance - Gross catastrophe losses for the first quarter of 2025 totaled $3.3 billion[10, 13] - Reinsurance recoveries amounted to $1.1 billion, offsetting some of the catastrophe losses[10, 14] - The catastrophe loss ratio reached 23.8% of earned premium, surpassing 3 standard deviations above the 10-year average[13] Policy Growth and Distribution - Property-Liability policies in force increased by 0.1%, representing an increase of 19 thousand policies[17] - Homeowners policies in force increased by 2.5%, representing an increase of 185 thousand policies, offsetting a decrease in auto policies[17] - New issued applications for Property-Liability personal lines increased across all channels, with exclusive agents showing a 27.1% increase, independent agents a 31.2% increase, and direct channels a 10.0% increase[17] Investments - The investment portfolio is allocated with approximately 81% in interest-bearing assets and 19% in growth-oriented equity assets[20] - Market-based fixed income investments totaled $60.3 billion[20] Protection Services - Protection Services adjusted net income was $162 million, a 7.0x increase since 2018[24] - Protection Plans policies in force reached 39 million[24]