ALLSTATE CORP
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 24, 2025
Contents
• Overview
The Allstate Corporation was incorporated under the laws of the State of Delaware on November 5, 1992, to serve as the holding company for Allstate Insurance Company. Its business is conducted principally through Allstate Insurance Company and other subsidiaries (collectively, including The Allstate Corporation, “Allstate”).
The Allstate Corporation is one of the largest publicly held personal lines insurers in the United States. Allstate’s strategy is to increase market share in personal property-liability and broaden protection offerings. The Allstate brand is widely known through the“You’re In Good Hands With Allstate®” slogan.
| Allstate at a Glance | |
|---|---|
| 208million policiesin force (“PIF”) | 55,000employees |
| 3rd largest personal property and casualty insurer in the United States (1) | $72.61 billioninvestment portfolio |
(1)Based on 2023 statutory direct premiums written according to A.M. Best
We empower customers with protection to help them achieve their hopes and dreams.
We provide affordable, simple and connected protection solutions.
We create opportunity for our team, economic value for our shareholders and improve communities.
What We Do
| Auto and homeowners insurance | Roadside assistance |
|---|---|
| Select commercial property and casualty coverages | Automotive protection and insurance products |
| Consumer product protection plans | Identity protection |
| Mobility data collection services and analytic solutions using automotive telematics information | Employer voluntary benefits, group health insurance and individual health insurance |
| Reportable segments | |
|---|---|
| Allstate Protection (1) | Offers private passenger auto, homeowners, other personal lines and commercial insurance through exclusive agents, independent agents, contact centers and online under the Allstate, National General and Answer Financial brands. |
| Run-off Property-Liability (1) | Relates to property and casualty insurance policies written during the 1960s through the mid-1980s with exposure to asbestos, environmental and other claims in run-off. |
| Protection Services | Provides consumer product protection plans, device and mobile data collection services and analytic solutions using automotive telematics information, roadside assistance, protection and insurance products and identity protection and restoration through Allstate Protection Plans, Allstate Dealer Services, Allstate Roadside, Arity and Allstate Identity Protection. |
| Allstate Health and Benefits | Offers self-funded stop-loss and fully insured group health products to employers, and Medicare supplement, ancillary products and short-term medical insurance to individuals, sold through independent agents, owned agencies, benefits brokers and Allstate exclusive agents. |
| Corporate and Other | Includes net investment income, net gains (losses) on investments, other revenue, debt service, holding company activities and certain non-insurance operations. |
(1)Allstate Protection and Run-off Property-Liability segments comprise Property-Liability.
On August 13, 2024, Allstate entered into an agreement with StanCorp Financial Group, Inc. to sell Allstate’s employer voluntary benefits business. The transaction is expected to close in the first half of 2025, subject to regulatory approvals and other customary closing conditions. On January 30, 2025, Allstate entered into an agreement with Nationwide Life Insurance Company to sell the group health business. The transaction is expected to close during 2025, subject to regulatory approvals and other customary closing conditions. The individual health business will either be retained or divested.
In this Annual Report on Form 10-K, we occasionally refer to statutory financial information. All domestic United States insurance companies are required to prepare statutory-basis financial statements. As a result, industry data is available that enables comparisons between insurance companies, including competitors that are not required to prepare financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”). We frequently use industry publications containing statutory financial information to assess our competitive position.
The Allstate Corporation 1
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