Welcome to our dedicated page for The Allstate Corporation news (Ticker: ALL), a resource for investors and traders seeking the latest updates and insights on The Allstate Corporation stock.
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.
The Allstate (NYSE: ALL) will conduct a second quarter 2024 earnings call and webcast on August 1, 2024, at 9 a.m. Eastern. The company will file a Form 8-K with the SEC revealing the quarterly earnings on July 31, 2024, at or after 4:15 p.m. Eastern. The earnings release and investor supplement will be accessible at www.sec.gov and www.allstateinvestors.com around 5 p.m. Eastern on the same day. The webcast will be available on Allstate's investor website, with a replay posted shortly after the call. Investors can also subscribe to email alerts and RSS feeds for timely updates on financial information from Allstate.
A new study by Allstate, the U.S. Chamber of Commerce, and the U.S. Chamber of Commerce Foundation reveals that every $1 spent on climate resilience saves communities $13 in damages, cleanup costs, and economic impact. Modeling 25 disaster scenarios, the report shows substantial economic savings from investment in disaster resiliency, alleviating job losses, maintaining incomes, and aiding faster local economic recovery. During 2022, natural disasters cost over $360 billion globally. The study highlights that a large city's $10.8 billion pre-hurricane investment could save 184,000 jobs, $26 billion in GDP, and $17 billion in income. Additionally, preparedness investments create jobs and boost economic production even if disasters don't occur. The findings emphasize the necessity of investments to mitigate the impacts of increasing weather-related catastrophes. Key resilience measures include green infrastructure, wetlands restoration, flood barriers, and fire-resistant materials. This study underscores the vital role of preparedness in ensuring community safety and economic stability.
AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to The Allstate 's $500 million, 5.05% senior unsecured notes due 2029. The rating outlook is stable. Existing ratings of Allstate and its insurance subsidiaries remain unchanged. AM Best, a global credit rating agency, specializes in the insurance industry and operates in over 100 countries. Further details are available on AM Best’s Recent Rating Activity web page.
The Allstate (NYSE: ALL) has reported estimated catastrophe losses for May 2024 amounting to $1.40 billion, or $1.10 billion after-tax. These losses stem from 14 events, totaling $1.48 billion, with around 70% of the losses attributed to five significant wind and hail events, primarily affecting Texas, Colorado, and Illinois. Combined catastrophe losses for April and May reached $1.89 billion pre-tax, and the total year-to-date catastrophe losses for May were $2.62 billion pre-tax. For more details, visit www.allstateinvestors.com.
Allstate, in collaboration with U.S. Men's National Team 2022 World Cup Captain Tyler Adams, unveiled a new soccer mini-pitch on June 15 at Fisher Magnet Upper Academy in Detroit. This initiative is part of a three-year commitment to donate a soccer mini-pitch annually to underserved communities. The project aims to provide young people with opportunities for physical activity and community building. The mini-pitch installation is supported by grassroots organization Black Star and the U.S. Soccer Foundation. These hard-court surfaces will host organized and pick-up soccer games, promoting youth engagement and community safety.
Allstate has announced an aggregate of $29.3 million in preferred dividends for the period from April 15, 2024, to July 14, 2024.
The dividends, payable in cash on July 15, 2024, will be distributed to stockholders of record as of June 28, 2024.
Details include a quarterly amount per depositary share of $0.3187500 for Series H at a 5.100% annual dividend rate, $0.2968750 for Series I at a 4.750% annual dividend rate, and $0.4609375 for Series J at a 7.375% annual dividend rate.
Donut Media has announced an exclusive partnership with Allstate, making Allstate the official insurance partner for the new season of Donut's popular series, 'HiLow.' This sponsorship includes custom content on Donut's YouTube channels, podcasts, and social media. Donut's platforms boast over 15 million combined subscribers and followers. Production for the new 'HiLow' season begins in July, with episodes releasing monthly from late August. Allstate aims to integrate their brand into Donut's car-focused content, blending car culture with practical advice. This partnership was coordinated by Donut's Director of Client Partnerships, Amanda Klein, and Allstate's media agency, Starcom Worldwide.
The Allstate (NYSE: ALL), a leading personal lines insurer, announced that Tom Wilson, its Chair, President, and CEO, will present at the William Blair Growth Stock Conference. The presentation is scheduled for 8:00 a.m. Central on Wednesday, June 5. Stakeholders can access a live webcast of the presentation at www.allstateinvestors.com, where a replay will also be available shortly after the event. Financial information and material announcements about Allstate are routinely posted on the same website.
Allstate (NYSE: ALL) announced estimated catastrophe losses for April 2024 amounting to $494 million pre-tax, or $390 million after-tax. These losses encompass 11 catastrophic events, with around 80% attributed to four major incidents involving wind, hail, or tornadoes. For more detailed financial information and material announcements, visit www.allstateinvestors.com.
AM Best has assigned indicative Long-Term Issue Credit Ratings to Allstate 's (NYSE: ALL) new shelf registration. The ratings are 'a-' for senior unsecured issues, 'bbb+' for subordinated issues, and 'bbb' for junior subordinated and preferred stock. The outlook for these ratings is stable.
AM Best has also withdrawn the ratings on Allstate's previous shelf registration, which has expired. The existing ratings of Allstate and its insurance subsidiaries remain unchanged. Allstate's financial leverage and earnings coverage align with AM Best's expectations.
This press release is available on AM Best's website, which includes detailed rating information and disclosures.
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