Aallstate(US:ALL)2025-02-06 15:58Financial Performance - Allstate's total revenue reached $16.5 billion in the fourth quarter and $64.1 billion for the full year, representing increases of 11.3% and 12.3% respectively, compared to the prior year[6] - Net income applicable to common shareholders was $1.9 billion in the fourth quarter and $4.6 billion for the full year[6,8] - The adjusted net income return on equity was 26.8% over the last twelve months[6,8] Underwriting Results - Property-Liability insurance premiums reached $13.933 billion in the fourth quarter, up 10.6%, and $53.866 billion for the full year, up 11.2%[8] - The Property-Liability combined ratio was 86.9 in Q4, a decrease of 2.6 percentage points[10] - Auto Insurance underwriting income was $603 million in Q4, with a combined ratio of 93.5, improved by 5.4 percentage points[10] - Homeowners Insurance underwriting income was $1.070 billion in Q4, but the combined ratio increased to 69.8, up 7.8 percentage points[10] Strategic Initiatives - The sale of Group Health, combined with the previously announced Employer Voluntary Benefits sale, will generate $3.25 billion of total expected proceeds[6,7,33] - The adjusted expense ratio decreased from 27.9 in 2019 to 23.1 in 2024 due to Transformative Growth initiatives[9] Business Segment Performance - Protection Plans revenues increased 20.3% to $528 million in the fourth quarter and 21.2% to $1.987 billion for the full year[29,30] - Protection Plans adjusted net income was $37 million for the quarter and $157 million for the year[30] Investment Portfolio - Net investment income was $833 million in the fourth quarter, a 37.9% increase, and $3.092 billion for the full year, a 24.8% increase[8] - Market-based equity investments increased to $3.3 billion, representing 5% of the portfolio at year-end 2024[26] Policies in Force - Total policies in force reached 37.5 million[23] - Auto policies in force decreased by 347,000, a 1.4% decrease[23] - Homeowners policies in force increased by 173,000, a 2.4% increase[23] California Wildfire Impact - Gross losses from California wildfires are estimated at $2.0 billion, with reinsurance recoveries of $0.9 billion, resulting in net losses of $1.1 billion before tax[21]