Allstate Q3 net loss $694M; reserve strengthening $875M; auto combined ratio 117.4

ALLSTATE CORP

2022-Q3 EPS reported -$4.04 revenue$37,765,000,000

Net loss of $694M ($2.58 EPS) vs income of $508M ($1.71 EPS) a year ago; adjusted net loss $420M ($1.56 EPS).
Property-Liability underwriting loss $1.29B; combined ratio 111.6 vs 105.3; prior year reserves increased $875M.
Allstate auto combined ratio 117.4; underlying 104.0; rate increases of 10.4% effective in 2022; exiting unprofitable states.
Revenues $13.2B (+5.8%); earned premiums +9.8% to $11.2B; net investment income $690M (-$74M YoY).
Shareholder returns: $897M in Q3 ($665M buybacks, $232M dividends); $1.2B remaining on $5B authorization.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALLSTATE CORP reported the third quarter of 2022 results: revenue $13,208, net income (694), EPS (2.58).

Period: the third quarter of 2022
Revenue: $13,208
Net income: (694)
EPS: (2.58)
Result: reported results

Exact text from the filing

ended September 30, Nine months ended September 30, ($ in millions, except per share data and ratios) 2022 2021 % / pts Change 2022 2021 % / pts Change Consolidated revenues $ 13,208 $ 12,480 5.8 % $37,765 $37,577 0.5 % Net income (loss) applicable to common shareholders (694) 508 NM (1,106) 695 NM per diluted common share (1) (2.58) 1.71 NM (4.04) 2.30 NM

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Source: SEC EDGAR

accession 0000899051-22-000078

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