Summary
Allstate Corporation reported a solid first quarter in 2015, with consolidated net income available to common shareholders increasing to $648 million from $587 million in the same period last year. This growth was driven by improved performance in both the Property-Liability and Allstate Financial segments. The Property-Liability segment saw its net income rise to $538 million, supported by a lower combined ratio of 93.7% and an increase in premiums earned. Allstate Financial also contributed positively, with net income of $183 million, benefiting from higher realized capital gains despite a decrease in net investment income. Key drivers for the Property-Liability segment included a reduction in catastrophe losses compared to the prior year and disciplined underwriting, leading to higher underwriting income. Allstate Financial experienced growth in its life insurance and accident & health businesses. Overall, the company demonstrated effective investment management, with total investments remaining substantial and a notable increase in unrealized net capital gains. The company also continued its commitment to shareholder returns through significant share repurchases and dividends.
Financial Highlights
33 data points| Revenue | $8.95B |
| Interest Expense | $73.00M |
| Net Income | $677.00M |
| EPS (Basic) | $1.56 |
| EPS (Diluted) | $1.53 |
| Shares Outstanding (Basic) | 415.80M |
| Shares Outstanding (Diluted) | 422.60M |
Key Highlights
- 1Consolidated net income available to common shareholders increased by 10.4% to $648 million in Q1 2015 compared to $587 million in Q1 2014.
- 2Property-Liability net income rose by 9.1% to $538 million, driven by a lower combined ratio of 93.7% (down from 94.7%) and a 5.1% increase in premiums earned.
- 3Allstate Financial segment net income grew by 13.0% to $183 million, supported by higher realized capital gains and growth in specific product lines.
- 4Total revenues increased by 3.1% to $8.95 billion, reflecting growth in property-liability premiums earned.
- 5The company actively returned capital to shareholders, completing a $2.5 billion share repurchase program and initiating a new $3 billion program, alongside regular dividend payments.
- 6Investments totaled $80.44 billion, with a significant increase in unrealized net capital gains to $3.58 billion.
- 7Property-Liability catastrophe losses decreased significantly to $294 million from $445 million year-over-year.