Every material Form 8-K Allstate filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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.
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.
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.
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.
Allstate appointed Eric K. Ferren as Senior Vice President, Controller and Chief Accounting Officer, succeeding John C. Pintozzi, who moves to a special projects role. The change affects who signs the company's accounting, and the filing sets out Ferren's base salary and equity terms, which is a routine executive transition for shareholders.
Ferren takes over as controller and principal accounting officer effective May 20, 2024, succeeding John C. Pintozzi
Ferren's annual base salary is $445,000, with a 50% target for discretionary cash incentives
Ferren receives a sign-on equity award with a grant date fair value of $625,000 in RSUs, vesting 100% on the third anniversary of grant, to offset equity forfeited from his April 2024 departure
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.
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.
Allstate estimated March 2024 catastrophe losses at $328 million pre-tax ($259 million after-tax), with six events and about 80% of the month's losses tied to one hail event. Total first-quarter 2024 catastrophe losses were $731 million pre-tax, and the filing also reports rate increases that raised premiums for Allstate brand auto and homeowners policies.
March 2024 catastrophe losses: $328 million pre-tax, or $259 million after-tax
Six March events estimated at $343 million pre-tax, or $271 million after-tax; about 80% linked to one hail event
First-quarter 2024 catastrophe losses: $731 million pre-tax
Allstate brand premium impact from rate increases: auto 0.9% in March and 2.4% year-to-date; homeowners 0.7% in March and 3.4% year-to-date
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Allstate filing is on SEC EDGAR ↗. 8-K briefs of other companies →