ALLSTATE CORP
For the period ended Jun 30, 2025. Filed Jul 30, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Jul 30, 2025
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Protection Services
Protection Services Segment Results
Protection Services Segment
| Summarized financial information | ||||||
|---|---|---|---|---|---|---|
| ($ in millions) · Three months ended June 30, · Six months ended June 30, | ||||||
| 2025 · 2024 · 2025 · 2024 | ||||||
| Premiums written | $733 | $676 | $1,390 | $1,303 | ||
| Revenues | ||||||
| Premiums | $695 | $613 | $1,366 | $1,225 | ||
| Other revenue | 111 | 98 | 239 | 183 | ||
| Intersegment insurance premiums and service fees (1) | 36 | 39 | 73 | 74 | ||
| Net investment income | 25 | 23 | 49 | 44 | ||
| Costs and expenses | ||||||
| Claims and claims expense | (170) | (157) | (331) | (315) | ||
| Amortization of DAC | (328) | (296) | (646) | (585) | ||
| Operating costs and expenses | (290) | (246) | (599) | (480) | ||
| Restructuring and related charges | (1) | — | (1) | (1) | ||
| Income tax expense on operations | (18) | (19) | (35) | (36) | ||
| Adjusted net income | $60 | $55 | $115 | $109 | ||
| Allstate Protection Plans | $51 | $41 | $96 | $81 | ||
| Allstate Dealer Services | 4 | 6 | 8 | 12 | ||
| Allstate Roadside | 11 | 8 | 22 | 19 | ||
| Arity | (8) | (2) | (14) | (6) | ||
| Allstate Identity Protection | 2 | 2 | 3 | 3 | ||
| Adjusted net income | $60 | $55 | $115 | $109 | ||
| Policies in force | ||||||
| Allstate Protection Plans | 162,315 | 151,172 | ||||
| Allstate Dealer Services | 3,697 | 3,733 | ||||
| Allstate Roadside | 988 | 604 | ||||
| Allstate Identity Protection | 2,669 | 2,510 | ||||
| Policies in force as of June 30 (in thousands) | 169,669 | 158,019 | ||||
(1)Primarily related to Arity and Allstate Roadside and are eliminated in our condensed consolidated financial statements.
Premiums written increased 8.4% or $57 million in the second quarter of 2025 and increased 6.7% or $87 million in the first six months of 2025 compared to the same periods of 2024, primarily due to international growth at Allstate Protection Plans.
Adjusted net income increased 9.1% or $5 million in the second quarter of 2025 and increased 5.5% or $6 million in the first six months of 2025 compared to the same periods of 2024, primarily due to premium growth at Allstate Protection Plans, partially offset by higher expenses at Arity.
PIF increased 7.4% or 12 million as of June 30, 2025 compared to June 30, 2024 due to growth at Allstate Protection Plans.
Other revenue increased 13.3% or $13 million in the second quarter of 2025 and increased 30.6% or $56 million in the first six months of 2025 compared to the same periods of 2024, primarily due to higher lead generation revenue at Arity.
Intersegment premiums and service fees decreased 7.7% or $3 million in the second quarter of
2025 and decreased 1.4% or $1 million in the first six months of 2025 compared to the same periods of 2024, primarily driven by Allstate Roadside.
Claims and claims expense increased 8.3% or $13 million in the second quarter of 2025 and increased 5.1% or $16 million in the first six months of 2025 compared to the same periods of 2024, primarily driven by growth at Allstate Protection Plans and increased severity at Dealer Services.
Amortization of DAC increased 10.8% or $32 million in the second quarter of 2025 and increased 10.4% or $61 million in the first six months of 2025 compared to the same periods of 2024, driven by growth at Allstate Protection Plans.
Operating costs and expenses increased 17.9% or $44 million in the second quarter of 2025 and increased 24.8% or $119 million in the first six months of 2025 compared to the same periods of 2024, primarily due to expenses related to growth at Allstate Protection Plans and Arity.
Second Quarter 2025 Form 10-Q 61
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