Allstate swings to $1.2 billion Q1 profit as revenue rises and catastrophe losses fall
Allstate reported first quarter 2024 net income applicable to common shareholders of $1.2 billion, or $4.46 per diluted share, compared with a net loss of $346 million a year earlier. Revenue rose 10.7% to $15.3 billion, and the company said Property-Liability underwriting results improved on higher premiums and lower catastrophe losses, which benefits shareholders.
Key points
- Net income applicable to common shareholders was $1.2 billion, or $4.46 per diluted share, versus a net loss of $346 million, or $1.31 per share, in Q1 2023.
- Adjusted net income was $1.4 billion, or $5.13 per diluted share, versus an adjusted net loss of $342 million a year earlier.
- Total revenues rose 10.7% to $15.3 billion, driven by higher average premiums.
- Catastrophe losses fell to $731 million from $1.7 billion a year earlier.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 01, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.