Reportable Segments

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Reportable Segments

Note 3 Reportable Segments

Measuring segment profit or loss

The measure of segment profit or loss used in evaluating performance is underwriting income for the Allstate Protection and Run-off Property-Liability segments and adjusted net income for the Protection Services, Allstate Health and Benefits and Corporate and Other segments.

Underwriting income is calculated as premiums earned and other revenue, less claims and claims expenses (“losses”), amortization of DAC, operating costs and expenses, amortization or impairment of purchased intangibles and restructuring and related charges as determined using GAAP.

Adjusted net income is net income (loss) applicable to common shareholders, excluding:

• Net gains and losses on investments and derivatives

• Pension and other postretirement remeasurement gains and losses

• Amortization or impairment of purchased intangibles

• Gain or loss on disposition

• Adjustments for other significant non-recurring, infrequent or unusual items, when (a) the nature of the charge or gain is such that it is reasonably unlikely to recur within two years, or (b) there has been no similar charge or gain within the prior two years

• Income tax expense or benefit on reconciling items

A reconciliation of these measures to net income (loss) applicable to common shareholders is provided below.

Reportable segments financial performance
	Three months ended March 31,
($ in millions)	2023		2022
Underwriting income (loss) by segment
Allstate Protection	$	(998)	$	282
Run-off Property-Liability	(3)		(2)
Total Property-Liability	(1,001)		280
Adjusted net income (loss) by segment, after-tax
Protection Services	34		53
Allstate Health and Benefits	56		57
Corporate and Other	(89)		(111)
Reconciling items
Property-Liability net investment income	509		558
Net gains (losses) on investments and derivatives	14		(267)
Pension and other postretirement remeasurement gains (losses)	53		247
Amortization of purchased intangibles (1)	(24)		(29)
Gain (loss) on disposition	9		(16)
Income tax benefit (expense) on reconciling items	92		(148)
Total reconciling items	653		345
Less: Net loss attributable to noncontrolling interest (2)	(1)		(10)
Net (loss) income applicable to common shareholders	$	(346)	$	634

(1)Excludes amortization of purchased intangibles in Property-Liability, which is included above in underwriting income.

(2)Reflects net loss attributable to noncontrolling interest in Property-Liability.

Reportable segments revenue information
($ in millions)	Three months ended March 31,
	2023		2022
Property-Liability
Insurance premiums
Auto	$	7,908	$	7,081
Homeowners	2,810		2,490
Other personal lines	562		531
Commercial lines	232		283
Other business lines	123		113
Allstate Protection	11,635		10,498
Run-off Property-Liability	—		—
Total Property-Liability insurance premiums	11,635		10,498
Other revenue	353		347
Net investment income	509		558
Net gains (losses) on investments and derivatives	12		(203)
Total Property-Liability	12,509		11,200
Protection Services
Protection plans	361		313
Roadside assistance	49		53
Finance and insurance products	128		117
Intersegment premiums and service fees (1)	33		41
Other revenue	84		94
Net investment income	16		9
Net gains (losses) on investments and derivatives	(1)		(13)
Total Protection Services	670		614
Allstate Health and Benefits
Employer voluntary benefits	255		263
Group health	107		94
Individual health	101		111
Other revenue	101		95
Net investment income	19		17
Net gains (losses) on investments and derivatives	2		(7)
Total Allstate Health and Benefits	585		573
Corporate and Other
Other revenue	23		24
Net investment income	31		10
Net gains (losses) on investments and derivatives	1		(44)
Total Corporate and Other	55		(10)
Intersegment eliminations (1)	(33)		(41)
Consolidated revenues	$	13,786	$	12,336

(1)Intersegment insurance premiums and service fees are primarily related to Arity and Allstate Roadside and are eliminated in the condensed consolidated financial statements.