Allstate Q2 net income reverses to $301 million; underwriting loss narrows sharply
Allstate reported second quarter 2024 results on July 31, 2024, with revenues up 12.4% to $15.7 billion and net income applicable to common shareholders of $301 million, compared with a loss of $1.4 billion a year earlier. The improvement came mainly from higher Property-Liability earned premiums, better underlying loss experience and lower catastrophe losses, which matter to shareholders because they show the insurer's profit recovery continuing. The filing contains no new guidance.
Key points
- Total revenues were $15.7 billion, up $1.7 billion from the prior year quarter.
- Net income applicable to common shareholders was $301 million, or $1.13 per diluted share, versus a loss of $1.4 billion, or $5.29 per share, a year earlier.
- Adjusted net income was $429 million, or $1.61 per diluted share, versus an adjusted net loss of $1.2 billion.
- Property-Liability underwriting loss narrowed to $145 million from $2.1 billion, and catastrophe losses fell 21.4% to $2.1 billion.
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 July 31, 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.