Allstate Corp Stock Price, News & Analysis

The 2022 Allstate AFCA Good Works Team is calling for 1,000 youth volunteers to help their communities through DoSomething.org. This initiative honors college football players for their community impact and has inspired over 5 million young activists since its inception. Participants can engage in various volunteer opportunities, including mental health advocacy and food security efforts. The Allstate AFCA Good Works Team, celebrating its 31st year, highlights the commitment of athletes to make a positive societal impact.

The Allstate Corporation (NYSE: ALL) has appointed Christine DeBiase as Executive Vice President, Chief Legal Officer, General Counsel, and Corporate Secretary, effective January 3, 2023. With over 25 years of insurance and legal experience, DeBiase joins from Brighthouse Financial, where she was responsible for legal, compliance, and sustainability initiatives. DeBiase's expertise will support Allstate's transformation into a digital protection solutions company and enhance its sustainability strategy, as noted by CEO Tom Wilson.

The Allstate Corporation (NYSE: ALL) has declared a quarterly dividend of 85 cents per share on its common stock. This dividend will be paid in cash on January 3, 2023, to stockholders recorded as of the close of business on November 30, 2022. The announcement reflects the company's ongoing commitment to returning value to shareholders amid its operational performance.

The Allstate Corporation (NYSE: ALL) announced auto insurance rate increases of 14.0% in October 2022, affecting 15 locations. This move aims to address rising loss costs due to inflation. The total premium impact for the Allstate brand in October was 1.3%, contributing to a 12.1% increase year-to-date, amounting to $2.9 billion. Catastrophe losses for the month remained below the $150 million threshold. Forward-looking statements emphasize that actual results may vary based on underlying assumptions and risks.

Allstate collaborates with chef Jordan Andino to launch the Allstate Good Sips collection, featuring signature mocktails aimed at promoting safe driving during the holiday season. With a marked increase in demand for nonalcoholic beverages—33% growth to $331 million in 2021—Allstate seeks to provide tasty alternatives for designated drivers while addressing road safety concerns, particularly those linked to alcohol consumption. The mocktails include creative recipes like Safetini, Sober Sage, and 10 & 2.

The Allstate Corporation (NYSE: ALL) will hold a conference call and webcast on December 2, 2022, focusing on Allstate’s auto and home insurance claims practices and reserving process. Scheduled for 10:00 a.m. Eastern time, the hourlong event will feature presentations and discussions with executive leaders, alongside a Q&A segment. This call aims to provide investors with deeper insights into significant operational topics. An archived version of the webcast will be available at www.allstateinvestors.com after the event.

The Allstate Corporation (NYSE: ALL) reported a Q3 2022 net loss of $694 million, compared to a profit of $508 million a year prior, driven by increased claims severity and asset valuation declines. Consolidated revenues rose 5.8% to $13.2 billion, fueled by a 9.8% growth in Property-Liability premiums. Adjusted net loss was $420 million, down from $217 million in Q3 2021. The property-liability combined ratio worsened to 111.6. Allstate continues increasing insurance prices amid inflation and plans to exit unprofitable markets. Total cash returns to shareholders reached $2.8 billion year-to-date.

The Allstate Corporation (NYSE: ALL) filed a Form 8-K detailing its financial results for the quarter ending September 30, 2022. The disclosures include an earnings release and investor supplement, available on the SEC website and the company’s investor relations page. A conference call is scheduled for November 3 at 9 a.m. Eastern to discuss these results, with a webcast accessible for all interested parties. Investors can sign up for email alerts for future financial updates.

Voya Investment Management has been chosen by Allstate to manage its $850 million commercial mortgage portfolio, effective Nov. 14, 2022. Allstate retains ownership while Voya IM takes over management through a separately managed account. Approximately seven Allstate employees will join Voya’s team to handle this portfolio. Allstate's Managing Director emphasized the need for Voya’s proven expertise in commercial mortgage management, citing recent sales of assets making internal management less optimal. Voya manages approximately $330 billion in assets across various strategies.