Allstate's 1Q Profit Falls as Catastrophe Losses Rise

Dow Jones

May 01, 2025

By Connor Hart

Allstate posted lower profit in the first quarter, hurt by higher catastrophe losses.

The insurance company on Wednesday posted net income of $566 million, or $2.11 a share, compared with $1.19 billion, or $4.46 a share, a year earlier.

Adjusted per-share earnings of $3.53 topped the $2.52 that analysts polled by FactSet expected.

Revenue increased 7.8% to $16.45 billion but missed the $16.57 billion that analysts modeled.

The company said catastrophe losses increased to $2.2 billion from $731 million a year earlier. Book value per share increased to $74.61 from $62.27.

Allstate's property liability unit reported written premiums of $14.3 billion, up 8.5% from last year, which the company attributed to rate increases. Underwriting income fell to $360 million from $898 million a year earlier, dragged down by higher catastrophe losses.

In the company's auto protection unit, written premiums increased 5.2% to $9.85 billion, also due to rate increases. Underwriting income rose to $816 million from $351 million last year.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 30, 2025 17:02 ET (21:02 GMT)

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Underwriting income rose to $816 million from $351 million last year. \n</p>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 30, 2025 17:02 ET (21:02 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2532091970","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2532091970","pubTimestamp":1746046920,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Allstate posted lower profit in the first quarter, hurt by higher catastrophe losses.The insurance company on Wednesday posted net income of $566 million, or $2.11 a share, compared with $1.19 billion, or $4.46 a share, a year earlier.Adjusted per-share earnings of $3.53 topped the $2.52 that analysts polled by FactSet expected.Revenue increased 7.8% to $16.45 billion but missed the $16.57 billion that analysts modeled.The company said catastrophe losses increased to $2.2 billion from $731 million a year earlier. 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Book value per share increased to $74.61 from $62.27. \n\n\n  Allstate's property liability unit reported written premiums of $14.3 billion, up 8.5% from last year, which the company attributed to rate increases. Underwriting income fell to $360 million from $898 million a year earlier, dragged down by higher catastrophe losses. \n\n\n  In the company's auto protection unit, written premiums increased 5.2% to $9.85 billion, also due to rate increases. Underwriting income rose to $816 million from $351 million last year. \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 30, 2025 17:02 ET (21:02 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}