AI English summary of an SEC filing — figures as filed
Allstate ALLThe company said Allstate's consolidated net income applicable to common shareholders was $1.19 billion in Q1 2024, reversing a loss of $346 million in Q1 2023, mainly due to improved underwriting results. Total revenues rose 10.7% to $15.26 billion.
Key points
AI summaryThe company said Allstate's consolidated net income applicable to common shareholders was $1.19 billion in Q1 2024, reversing a loss of $346 million in Q1 2023, mainly due to improved underwriting results. Total revenues rose 10.7% to $15.26 billion.
Allstate Protection underwriting income was $903 million in Q1 2024, compared with an underwriting loss of $998 million in Q1. The company cited increased premiums earned and lower catastrophe losses as factors, partially offset by higher non-catastrophe losses and advertising costs.
The company said auto premiums written in Q1 2024 increased 12.1% ($1.01 billion), and homeowners premiums written increased 13.4% ($340 million). It cited Allstate brand rate increases of 8.4% for auto and 11.7% for homeowners.
The company said net investment income rose $189 million to $764 million in Q1 2024. It also said its $5.00 billion share repurchase authorization expired on March 31, 2024 with $472 million remaining, and that it did not repurchase any shares in Q1.
Key figures
Quarter ended March 31, 2024
- Revenue
- $15.3B
- Net income
- $1.2B
- EPS
- $4.46
- Operating cash flow
- $1.7B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Allstate Q1 net income $1.19 billion, total revenue $15.26 billion
The company said Allstate's consolidated net income applicable to common shareholders was $1.19 billion in Q1 2024, reversing a loss of $346 million in Q1 2023, mainly due to improved underwriting results. Total revenues rose 10.7% to $15.26 billion.
Source · Based on the MD&A text of the filing
Allstate Protection underwriting income $903 million
Allstate Protection underwriting income was $903 million in Q1 2024, compared with an underwriting loss of $998 million in Q1. The company cited increased premiums earned and lower catastrophe losses as factors, partially offset by higher non-catastrophe losses and advertising costs.
Source · Based on the MD&A text of the filing
Auto and homeowners premium growth and rate increases
The company said auto premiums written in Q1 2024 increased 12.1% ($1.01 billion), and homeowners premiums written increased 13.4% ($340 million). It cited Allstate brand rate increases of 8.4% for auto and 11.7% for homeowners.
Source · Based on the MD&A text of the filing
Net investment income $764 million, no share buybacks
The company said net investment income rose $189 million to $764 million in Q1 2024. It also said its $5.00 billion share repurchase authorization expired on March 31, 2024 with $472 million remaining, and that it did not repurchase any shares in Q1.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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