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.
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The Allstate Corporation (NYSE: ALL) announced that Tom Wilson, Chair, President, and CEO, will present at the virtual Goldman Sachs U.S. Financial Services Conference on December 9, at 10 a.m. EST. Interested parties can access a webcast of the presentation via www.allstateinvestors.com, where a replay will be available shortly after. Allstate's financial information and material announcements are regularly updated on the same site.
The Allstate Corporation (NYSE: ALL) reported estimated catastrophe losses of $345 million for October, with a post-tax impact of $273 million. The losses stemmed from 10 events, primarily Hurricane Zeta and Hurricane Delta, which contributed about 85% of total losses, totaling $324 million pre-tax. This report highlights the significant financial impact of recent catastrophic events on Allstate's operations.
The Allstate Corporation (NYSE: ALL) announced the board's approval of common and preferred quarterly dividends. A quarterly dividend of 54 cents per share on common stock will be paid on January 4, 2021, to shareholders on record by November 30, 2020. Additionally, approximately $26.3 million is declared on three series of preferred stock, with payments scheduled for January 15, 2021. This decision reflects Allstate’s strong income generation and commitment to returning cash to its shareholders.
The Allstate Corporation (NYSE: ALL) reported a strong third quarter of 2020, posting revenues of $11.5 billion, up 3.9% from the prior year. Net income applicable to common shareholders was $1.13 billion, a 26.7% increase, with diluted EPS rising to $3.58. Despite high catastrophe losses and restructuring charges, the underlying combined ratio improved to 79.7. The company's policies in force increased by 27%, driven by growth in Allstate Protection Plans, which grew by 40% year-over-year. Adjusted net income was $923 million, reflecting a slight decrease of 2.4% due to higher catastrophe losses.
The Allstate Corporation (NYSE: ALL) filed its financial results for Q3 2020 on Form 8-K, which includes earnings release and investor supplement. These documents will be available on the company's SEC page and investor site by approximately 5 p.m. Eastern on Nov. 5. Allstate plans to host a conference call and webcast at 9 a.m. Eastern on the same day to discuss these results, accessible via their investor website. Investors can enroll for email alerts and access RSS feeds for updates on financial information and news releases.
The Allstate Corporation (NYSE: ALL) has appointed Donald Brown, CFO of NiSource, to its Board of Directors effective Nov. 1. This appointment increases the board to 12 members. Brown brings extensive financial expertise and experience in leading shared services organizations, which aligns with Allstate's Transformative Growth Plan. His insights are expected to enhance strategic leadership as the company aims for future growth.
The Allstate Corporation (NYSE: ALL) announced plans to enhance supply chain transparency by requesting its suppliers to report greenhouse gas emissions data to CDP Supply Chain. This initiative, launched in October 2020, underscores Allstate's commitment to environmental sustainability. Having been an active participant in CDP since 2007, Allstate aims to manage climate risks effectively. The company recently published its 18th Sustainability Report and was recognized on the Dow Jones Sustainability Indices for its sustainability leadership.
The Allstate Corporation (NYSE: ALL) reported estimated catastrophe losses for September totaling $339 million pre-tax ($268 million after-tax). This includes costs from 20 events, with wildfires in California, Oregon, and Washington accounting for about 65% of these losses. Additionally, unfavorable reserve reestimates contributed mainly due to $64 million for Hurricane Laura. Cumulative catastrophe losses for the third quarter are now estimated at $990 million pre-tax ($782 million after-tax).
Allstate Insurance Company (NYSE: ALL) has partnered with Lyft to provide commercial auto coverage in California, Iowa, Indiana, Kansas, Kentucky, Missouri, Ohio, and West Virginia, effective October 1, 2020. The policies offer coverage throughout the Lyft trip cycle, ensuring riders are protected at no extra cost. Coverage may include bodily injury, property damage liability, and collision options, varying by state. As ridesharing evolves, Allstate aims to simplify insurance for drivers while enhancing safety and security through innovative solutions.