Allstate swings to $1.2 billion Q3 profit from loss as revenue rises 14.7%
Allstate reported third-quarter 2024 net income applicable to common shareholders of $1.2 billion, or $4.33 per diluted share, compared with a net loss of $41 million a year earlier. Revenues rose 14.7% to $16.6 billion, and adjusted net income was $1.0 billion, or $3.91 per diluted share, as Property-Liability underwriting improved despite higher catastrophe losses.
Key points
- Net income applicable to common shareholders was $1,161 million ($4.33 per diluted share) versus a net loss of $41 million ($0.16 per share) in Q3 2023.
- Total revenues were $16.6 billion, up 14.7%; the Property-Liability recorded combined ratio improved to 96.4 from 103.4.
- Catastrophe losses were $1.7 billion, up 44.2%, including Hurricanes Beryl, Debby, Francine and Helene.
- Sale of the Employer Voluntary Benefits business to StanCorp Financial for $2 billion was finalized, with divestiture expected in the first half of 2025.
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 October 30, 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.