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The Allstate Corporation (NYSE: ALL) is one of the largest property and casualty insurers in the United States. Renowned for its slogan “You’re in Good Hands with Allstate®”, the company offers a comprehensive range of insurance products and services, including personal auto insurance, homeowners insurance, life insurance, and identity protection. Allstate operates primarily in North America through a vast network of about 10,000 company agencies, ensuring extensive coverage and customer service.
In recent financial news, Allstate has shown robust performance. The company's board of directors approved a quarterly dividend increase to $0.92 per share, reflecting their commitment to rewarding shareholders and indicating financial strength. For the first quarter of 2024, Allstate reported consolidated revenues of $15.3 billion, a 10.7% increase from the previous year, and an adjusted net income of $1.4 billion. These figures highlight the company's solid profitability and effective management strategies.
Allstate’s product innovation remains at the forefront with offerings like Drivewise®, a usage-based insurance feature that promotes safe driving. Data reveals that Drivewise customers are 25% less likely to have severe collisions, making it a significant value proposition for policyholders.
On the strategic front, Allstate has been proactive in implementing rate increases to counter inflationary trends and ensure sustainable profitability. The company announced rate increases for auto and homeowners insurance, contributing to a substantial rise in gross written premiums.
Allstate continues to be a key player in the insurance industry, demonstrating resilience and adaptability amidst market fluctuations. With a strong focus on customer protection and innovative solutions, Allstate is well-positioned to maintain its leadership and drive future growth.
Nick Dawkins, Penn State senior offensive lineman, has been named the 2024 Allstate Wuerffel Trophy recipient and Allstate AFCA Good Works Team Captain. The three-time Academic All-Big Ten honoree founded the Dawkins Family Foundation in 2022, providing educational scholarships and enrichment opportunities for youth. The foundation offers three scholarships to high school seniors, including one honoring his late father, NBA player Darryl Dawkins.
Dawkins has established summer sports camps at the YMCA of Centre County and leads Uplifting Athletics in fundraising for rare disease research at Penn State. The Allstate Wuerffel Trophy, celebrating its 20th anniversary, recognizes FBS players who excel in community service, leadership, and on-field performance. Dawkins was selected from a record 178 nominees for the 2024 Allstate AFCA Good Works Team.
Allstate has announced dividend payments totaling $29.3 million across three preferred stock series for the period from October 15, 2024, to January 14, 2025. The dividends will be paid in cash on January 15, 2025, to stockholders of record as of December 31, 2024.
The dividend rates and quarterly amounts per depositary share are:
- Series H: 5.100% annual rate, $0.3187500 per share
- Series I: 4.750% annual rate, $0.2968750 per share
- Series J: 7.375% annual rate, $0.4609375 per share
Allstate (NYSE: ALL) reported catastrophe losses of $286 million ($226 million after-tax) for October 2024. This includes $102 million pre-tax losses from Hurricane Milton and unfavorable reserve reestimates of $144 million pre-tax related to Hurricane Helene, primarily affecting Georgia, South Carolina and North Carolina. The company's total catastrophe losses for October year-to-date reached $4.84 billion ($3.82 billion after-tax).
Allstate (NYSE: ALL) has announced that Tom Wilson, Chair, President and CEO, will present at the Goldman Sachs U.S. Financial Services Conference on Tuesday, Dec. 10 at 7:40 a.m. Central Time. The presentation will be accessible via webcast on www.allstateinvestors.com, where a replay will be available afterward. The company routinely posts financial information and material announcements on their investor website.
Allstate (NYSE: ALL) has declared a quarterly dividend of $0.92 per share on its common stock. The dividend will be paid in cash on January 2, 2025, to shareholders recorded as of November 29, 2024. The announcement was made following approval from the company's board of directors.
Allstate Health Solutions has announced a strategic partnership with Thatch, Ambetter Health, and Intuit QuickBooks to offer Individual Coverage Health Reimbursement Arrangement (ICHRA) solutions. This collaboration enables businesses to reimburse employees tax-free for individual health insurance premiums and medical expenses through off-exchange plans. The partnership introduces Ambetter Health Solutions, a new product launching in 2025 across select states, designed for individuals accessing ICHRA through their employers. QuickBooks customers with payroll subscriptions can access Allstate's platform, offering various coverage options including Association plans, ACA alternative plans, and traditional ACA plans.
Allstate and Arlo (NYSE: ARLO) have partnered to launch the Arlo Total Security bundle, a comprehensive home protection package available at a special reduced price. The bundle includes 24/7 professional monitoring, hardware components (Security System Keypad Hub, 5 All-in-One Sensors, 2 Essential 2nd Gen Outdoor cameras), and an Allstate Protection Plan with three-year extended coverage. This collaboration aims to provide affordable and connected protection for homeowners, particularly during the holiday season.
Allstate and Arlo Technologies have partnered to launch the Arlo Total Security bundle, a comprehensive home security package. The exclusive offering includes 24/7 professional monitoring, hardware components (Security System Keypad Hub, 5 All-in-One Sensors, 2 Outdoor cameras), and an Allstate Protection Plan with three-year extended coverage. The bundle is being offered at a special reduced price ahead of the holiday season, targeting homeowners seeking enhanced security during peak package delivery periods.
Allstate (NYSE: ALL) reported strong Q3 2024 financial results with total revenues of $16.6 billion, up 14.7% year-over-year. Net income reached $1.2 billion ($4.33 per share) compared to a loss of $41 million in Q3 2023. Property-Liability earned premiums increased 11.6% to $13.7 billion, while underwriting income improved to $495 million. Auto insurance generated $486 million in underwriting income despite $1.7 billion in catastrophe losses. The company maintained strong capitalization with $17.3 billion in statutory surplus and $3.0 billion in holding company assets.
Allstate announced an expansion of its college athletics support program to include all sports and athletes. The company will enhance its Good Hands field goal nets program by increasing donations for field goals and extra points, directing funds to scholarships across all sports. Additionally, Allstate will broaden its Good Works Team initiative in partnership with NACDA to recognize 60 additional student-athletes across winter, spring, and fall sports seasons, beyond the current 22 football players honored annually. Sports journalist Holly Rowe will partner with Allstate to promote these programs. The company's involvement in college sports spans nearly two decades, including its role as title sponsor of the Allstate Sugar Bowl.
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