Reportable Segments (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Reportable Segments Financial Performance

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


Reportable segments financial performance
	For the years ended December 31,
($ in millions)	2024		2023		2022
Underwriting income (loss) by segment
Allstate Protection	$	3,153	$	(2,090)	$	(2,782)
Run-off Property-Liability	(73)		(94)		(129)
Total Property-Liability	3,080		(2,184)		(2,911)

Adjusted net income (loss) by segment, after-tax
Protection Services	217		106		169
Allstate Health and Benefits	186		242		245
Corporate and Other	(426)		(415)		(422)

Reconciling items
Allstate Protection and Run-off Property-Liability net investment income	2,810		2,218		2,190
Net gains (losses) on investments and derivatives	(225)		(300)		(1,072)
Pension and other postretirement remeasurement gains (losses)	37		(9)		(116)

Amortization of purchased intangibles (1)	(74)		(94)		(113)

Gain (loss) on disposition (2)	16		4		89

Non-recurring costs (3)	—		(90)		—
Income tax (expense) benefit on Property-Liability and reconciling items (4)	(1,138)		182		495
Total reconciling items	1,426		1,911		1,473





Less: Net loss attributable to noncontrolling interest (5)	(67)		(24)		(52)

Net income (loss) applicable to common shareholders	$	4,550	$	(316)	$	(1,394)

(1)Excludes amortization of purchased intangibles in Allstate Protection, which is already included above in underwriting income.

(2)Includes $83 million related to the gain on sale of headquarters in the fourth quarter of 2022 reported as other revenue in the Corporate and Other segment.

(3)Relates to settlement costs for non-recurring litigation that is outside of the ordinary course of business.

(4)The tax computation of the reporting segments and income tax benefit (expense) on reconciling items to net income (loss) are computed discretely based on the tax law of the jurisdictions applicable to the reporting entities.

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

Schedule of Reportable Segments Revenue Information

The following table includes all revenues recorded in the Consolidated Statements of Operations.


Reportable segments revenue information
	For the years ended December 31,
($ in millions)	2024		2023		2022
Property-Liability
Insurance premiums
Auto	$	36,475	$	32,940	$	29,715
Homeowners	13,360		11,739		10,418
Other personal lines	2,823		2,387		2,159
Commercial lines	609		811		1,123
Other business lines	599		550		494
Allstate Protection	53,866		48,427		43,909
Run-off Property-Liability	—		—		—
Total Property-Liability insurance premiums	53,866		48,427		43,909
Other revenue	1,895		1,545		1,416
Net investment income	2,810		2,218		2,190
Net gains (losses) on investments and derivatives	(228)		(292)		(877)
Total Property-Liability	58,343		51,898		46,638

Protection Services
Protection Plans	1,869		1,540		1,307
Roadside assistance	150		195		202
Protection and insurance products	503		508		486
Intersegment premiums and service fees (1)	180		138		149
Other revenue	441		319		347
Net investment income	94		73		48
Net gains (losses) on investments and derivatives	(14)		—		(52)
Total Protection Services	3,223		2,773		2,487

Allstate Health and Benefits
Employer voluntary benefits	985		1,001		1,033
Group health	481		440		385
Individual health	455		405		414
Other revenue	522		447		402
Net investment income	100		82		69
Net gains (losses) on investments and derivatives	(5)		3		(44)
Total Allstate Health and Benefits	2,538		2,378		2,259

Corporate and Other
Other revenue	72		89		179
Net investment income	88		105		96
Net gains (losses) on investments and derivatives	22		(11)		(99)
Total Corporate and Other	182		183		176

Intersegment eliminations (1)	(180)		(138)		(149)
Consolidated revenues	$	64,106	$	57,094	$	51,411

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

Schedule of Reportable Segments Expense Information Used in Measure for Segment Profit or Loss


Reportable segments expense information used in measure for segment profit or loss
	For the years ended December 31,
($ in millions)	2024		2023		2022
Property-Liability
Claims and claims expense excluding catastrophe losses and prior year reserve reestimates (1)	$	34,092	$	34,243	$	31,894
Catastrophe losses	4,964		5,636		3,112
Non-catastrophe prior year reserve reestimates	(6)		485		1,601
Amortization of DAC	6,676		6,070		5,570
Advertising expense	1,863		638		934
Amortization of purchased intangibles	206		235		240
Restructuring and related charges	51		142		44
Other segment expenses (2)	4,762		4,613		4,712
Allstate Protection	52,608		52,062		48,107
Claims and claims expense (1)	68		89		125
Other segment expenses (2)	5		5		4
Run-off Property Liability	73		94		129
Total Property-Liability	52,681		52,156		48,236

Protection Services
Claims and claims expense	641		632		532
Amortization of DAC	1,217		1,058		928
Restructuring and related charges	2		6		2
Other segment expenses (2)	1,090		889		874
Income taxes on operations	71		83		35
Total	3,021		2,668		2,371



Allstate Health and Benefits
Accident, health and other policy benefits	1,241		1,071		1,042
Amortization of DAC	146		150		136
Restructuring and related charges	3		7		2
Other segment expenses (2)	915		842		814
Income taxes on operations	52		63		64
Total	2,357		2,133		2,058



Corporate and Other
Interest expense	400		379		335
Restructuring and related charges	5		13		3
Other segment expenses (2)	163		185		262
Income taxes on operations	(99)		(99)		(92)
Preferred stock dividends	117		128		105
Total	$	586	$	606	$	613

(1)Includes incurred loss adjustment expenses, net of reinsurance of $2.90 billion, $2.80 billion and $2.65 billion for the years ended December 31, 2024, 2023 and 2022, respectively.

(2)Includes employee-related costs, professional services, technology and certain other operating costs and expenses, including expenses from strategic initiatives.

Schedule of Additional Significant Financial Performance Data


Additional significant financial performance data
	For the years ended December 31,
($ in millions)	2024		2023		2022
Amortization of DAC
Property-Liability	$	6,676	$	6,070	$	5,570
Protection Services	1,217		1,058		928
Allstate Health and Benefits	146		150		136
Consolidated	$	8,039	$	7,278	$	6,634

Amortization of purchased intangibles
Property-Liability	$	206	$	235	$	240
Protection Services	47		62		77
Allstate Health and Benefits	27		32		36
Consolidated	$	280	$	329	$	353

Income tax expense (benefit)
Property-Liability	$	1,144	$	(136)	$	(427)
Protection Services	56		66		5
Allstate Health and Benefits	45		57		45
Corporate and Other	(83)		(122)		(111)
Consolidated	$	1,162	$	(135)	$	(488)

Schedule of Reportable Segment Total Assets, Investments and Deferred Policy Acquisition Costs


Reportable segment total assets, investments and deferred policy acquisition costs
	As of December 31,
($ in millions)	2024		2023
Assets
Property-Liability	$	96,988	$	88,568
Protection Services	7,540		7,292
Allstate Health and Benefits	4,362		4,032
Corporate and Other	2,727		3,470
Consolidated	$	111,617	$	103,362

Investments (1)
Property-Liability	$	67,671	$	59,540
Protection Services	2,228		2,180
Allstate Health and Benefits (2)	379		2,182
Corporate and Other	2,332		2,775
Consolidated	$	72,610	$	66,677

Deferred policy acquisition costs
Property-Liability	$	2,548	$	2,378
Protection Services	3,161		3,022
Allstate Health and Benefits (2)	64		540
Consolidated	$	5,773	$	5,940

(1)The balances reflect the elimination of related party investments between segments.

(2)As of December 31, 2024, $1.91 billion of investments and $521 million of deferred policy acquisition costs are classified as held for sale and not included in the table above.