Allstate Corporation Announces Quarterly Dividend
Recently Allstate announced their fourth quarter net income for 2009 at $518 million, or about 96 cents a share. That is a big improvement from the fourth quarter of 2008 where Allstate had a net loss of $1.13 billion, which equated to a loss of $2.10 a share.
Operating earnings were $592 million, or $1.09 a share. Operating earnings exclude net realized investment gains and losses and Allstate was expected to make $1.01 a share.
The combined ratio, which measures claims and expenses as a percentage of premiums, was 88.1 in the fourth quarter of 2009. This ratio is a closely watched measure of an insurer’s underwriting performance. Allstate announced than in 2010 this ratio will likely be between 88 and 90.
Allstate-brand standard auto insurance premiums written climbed less than 1% in the fourth quarter or 2009. Average auto insurance premiums rose 2.6% while the number of policies declined 1%. Net investment income during Q4 2009 was $1.1 billion, $253 millions less than in the fourth quarter of 2008.
The strong rebound in equities and corporate bonds relieved a lot of the pressure on Allstate that existed as a result of investment losses during the 2008 financial crisis. There will still be challenges for Allstate in 2010, including a still sluggish economy and lower investment income. Ultimately shares of Allstate climbed 0.7% in after hours trading following this announcement, rising to $28.80.
For more investor relations information from Allstate Insurance Company go to ir.allstate.com/phoenix.zhtml?c=93125&p=irol-irhome. For more press releases from Allstate go to www.allstatenewsroom.com.
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're In Good Hands With Allstate®" slogan, Allstate is reinventing protection and retirement to help more than 17 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and 1-800 Allstate®.
Owen Do
Advocate for Allstate
19 S Lasalle St
Chicago, IL 60602
3123462000
owen@vividascent.com