Allstate Q3 net loss narrows to $41M; adjusted EPS $0.81; pursues Health & Benefits sale

ALLSTATE CORP

2023-Q3 EPS reported -$6.76 revenue$42,262,000,000

Net loss applicable to common shareholders was $41M ($0.16 diluted loss) vs $685M loss a year ago; adjusted net income was $214M ($0.81 diluted).
Property-Liability underwriting loss of $414M improved $878M YoY; combined ratio 103.4 (vs 111.6).
Allstate pursuing sale of Health & Benefits businesses, which generated $240M adjusted net income over last twelve months.
Catastrophe losses totaled $1.18B in Q3, driven by Maui wildfire and Texas hailstorm; restructuring charges $87M.
Auto rate increases implemented in 25 locations (avg 5.9%); underlying auto combined ratio improved to 98.8.

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 0.95

ALLSTATE CORP reported financial results for the third quarter of 2023.

Period: the third quarter of 2023
Result: reported results

Exact text from the filing

The Registrant’s press release dated November 1, 2023, announcing its financial results for the third quarter of 2023

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Source: SEC EDGAR

accession 0000899051-23-000075

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