Allstate reveals full-year loss | Insurance coverage Enterprise America

The Allstate Company, which suffered a $1.4 billion web loss in 2022, remained within the pink in 2023.

In accordance with Allstate’s newest earnings report, right here’s how the corporate fared within the quarter and yr ended December 31:

 Specializing in the quarterly outcome, Allstate chair, president, and chief government Tom Wilson stated in a launch: “Allstate had sturdy profitability within the quarter with web earnings of $1.5 billion as a result of improved auto profitability and gentle climate.

“Improved underwriting efficiency and better funding earnings generated adjusted web earnings of $1.5 billion within the fourth quarter, or $5.82 per diluted widespread share. Property-liability written premiums elevated to $12.6 billion, 10.1% over the prior yr quarter pushed by fee will increase in auto and residential insurance coverage and development in insurance policies at Nationwide Normal.

Property-liability underwriting earnings totaled $1.3 billion within the quarter with a mixed ratio of 89.5. The funding portfolio return was 4.6% as proactive actions, together with fastened earnings period extension, resulted in wonderful funding returns.”

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