Welcome to our dedicated page for Allstate news (Ticker: ALL), a resource for investors and traders seeking the latest updates and insights on Allstate stock.
The Allstate Corporation (NYSE: ALL) provides property-casualty and protection products for autos, homes, electronic devices and identities through Allstate agents, independent agents, major retailers, online channels and workplace offerings. News about Allstate commonly covers personal auto and homeowners growth, Protection Services offerings, identity theft protection, mobile app features and distribution initiatives.
Company updates also include quarterly earnings, Property-Liability combined ratio trends, investment income, share repurchases and dividends, monthly catastrophe-loss estimates from weather events, policies in force and brand or community programs such as the Allstate NACDA Good Works Team.
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.
Allstate (NYSE: ALL) reported estimated catastrophe losses of $889 million ($702 million after-tax) for September 2024, including $630 million pre-tax related to Hurricane Helene. The third quarter saw total catastrophe losses of $1.70 billion ($1.35 billion after-tax), while year-to-date losses through September reached $4.55 billion ($3.60 billion after-tax).
The company's annual run-off property-liability reserve review resulted in unfavorable reserve reestimates of $58 million ($46 million after-tax). Allstate brand auto insurance rate increases led to a premium impact of 2.9% in Q3 and 6.3% year-to-date, including rate hikes approved in New York, New Jersey, and Texas. Updated rate information for auto and homeowners insurance is available on the Allstate investor website.
Allstate Protection Plans, a division of Allstate (NYSE: ALL), has acquired Kingfisher, a privately held company specializing in smart device lifecycle optimization. This strategic move enhances Allstate's offerings for the mobile industry and its customers. Kingfisher, founded in 2016, has been a pioneer in the mobile circular economy, providing solutions that cater to the growing consumer demand for flexible ownership and environmentally conscious protection options.
The acquisition brings Kingfisher's team of mobile experts to Allstate, strengthening its position in the device protection industry. Allstate Protection Plans currently serves over 150 million customers worldwide and partners with major mobile carriers such as Telenor Group, Softbank, Three, and T-Mobile. This acquisition is expected to provide Allstate with a significant competitive advantage in meeting the evolving needs of carriers and consumers in the wireless industry.
Allstate (NYSE: ALL) has announced its upcoming third quarter 2024 earnings conference call and webcast, scheduled for Thursday, Oct. 31, 2024, at 9 a.m. ET. The company plans to file its financial results via Form 8-K with the SEC on Wednesday, Oct. 30, after 4:15 p.m. ET. Investors can access the earnings release and investor supplement shortly after filing on the SEC's website and Allstate's Investor Relations website.
The press release provides information on how to access financial news, join the live conference call, and view the webcast replay. Interested parties can also subscribe to email alerts and RSS feeds for updates on financial news and material announcements through the Allstate Investor Relations website.