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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
Date of report (Date of earliest event reported): January 18, 2024
THE ALLSTATE CORPORATION
(Exact name of registrant as specified in its charter)
 
Delaware 1-11840 36-3871531
(State or other
jurisdiction of incorporation)
 (Commission
File Number)
 (IRS Employer
Identification No.)
3100 Sanders Road, Northbrook, Illinois    60062
(Address of principal executive offices)    (Zip Code)
Registrant’s telephone number, including area code  (847) 402-5000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolsName of each exchange on which registered
Common Stock, par value $0.01 per shareALLNew York Stock Exchange
Chicago Stock Exchange
5.100% Fixed-to-Floating Rate Subordinated Debentures due 2053ALL.PR.BNew York Stock Exchange
Depositary Shares represent 1/1,000th of a share of 5.100% Noncumulative Preferred Stock, Series HALL PR HNew York Stock Exchange
Depositary Shares represent 1/1,000th of a share of 4.750% Noncumulative Preferred Stock, Series IALL PR INew York Stock Exchange
Depositary Shares represent 1/1,000th of a share of 7.375% Noncumulative Preferred Stock, Series JALL PR JNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ____



Section 2 - Financial Information

Item 2.02. Results of Operations and Financial Condition
 
The Registrant’s press release dated January 18, 2024, announcing fourth quarter 2023 estimated catastrophe losses and prior year reserve reestimates, December 2023 implemented rates, and the Registrant’s implemented rate exhibit for December 2023 are posted on allstateinvestors.com and are attached hereto as Exhibit 99.1 and 99.2 which are incorporated herein by reference. These exhibits are furnished and not filed, pursuant to Instruction B.2 of Form 8-K.

Section 9 – Financial Statements and Exhibits
 
Item 9.01.                             Financial Statements and Exhibits
 
(d)                             Exhibits
 
Exhibit No. Description
   
99.1 
99.2
104Cover Page Interactive Data File (formatted as inline XBRL).



























SIGNATURES
2


 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 THE ALLSTATE CORPORATION
 (Registrant)
  
  
 By:/s/ John C. Pintozzi 
 Name: John C. Pintozzi
 Title: Senior Vice President, Controller and Chief Accounting Officer
  
   
Date:January 18, 2024  

3

all_linexverxnotagxrgbxposa.jpg
NEWS
FOR IMMEDIATE RELEASE
Contacts:
    
Al ScottBrent Vandermause
Media RelationsInvestor Relations
(847) 402-5600(847) 402-2800

Allstate Announces Fourth Quarter 2023 Catastrophe Losses, Prior Year Reserve Reestimates, and December and Fourth Quarter 2023 Implemented Rates

NORTHBROOK, Ill., January 18, 2024 – The Allstate Corporation (NYSE: ALL) today announced fourth quarter estimated catastrophe losses, prior year reserve reestimates and implemented rates.
Allstate’s estimated catastrophe losses were below the $150 million reporting threshold for December 2023. Total catastrophe losses for the fourth quarter were $68 million, pre-tax.
Unfavorable prior year reserve reestimates, excluding catastrophes, totaled $199 million in the fourth quarter, with approximately $148 million related to personal auto, including costs for claims in litigation.
During the month of December, the Allstate brand implemented auto rate increases of 16.5% across 15 locations, resulting in total brand premium impact of 5.0%, which includes the rate increases approved in December by the Departments of Insurance in California, New York and New Jersey.
“Allstate continued to make progress on our comprehensive plan to improve profitability. In 2023, rate increases for Allstate brand auto insurance resulted in a premium impact of 16.4%, which are expected to raise annualized written premiums by approximately $4.27 billion, and rate increases for Allstate brand homeowners insurance have resulted in a premium impact of 11.3%, which are expected to raise annualized written premiums by approximately $1.16 billion,” said Jess Merten, Chief Financial Officer of The Allstate Corporation. Our implemented rate exhibit for auto and homeowners insurance has been posted on www.allstateinvestors.com.
The company plans to file a current report on Form 8-K with the Securities and Exchange Commission announcing quarterly results after close of market on Wednesday, February 7.

Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.

Forward-Looking Statements
This news release contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like “plans,” “seeks,” “expects,” “will,” “should,” “anticipates,” “estimates,” “intends,” “believes,” “likely,” “targets” and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.
# # # #

Exhibit 99.2 The Allstate Corporation Allstate Protection Impact of Net Rate Changes Implemented on Premiums Written For the month ended December 31, 2023 Three months ended December 31, 2023 Number of locations (1) Total brand (%) (2) (3) Location specific (%) (4) Number of locations (1) Total brand (%) (2) (3) Location specific (%) (4) Allstate brand Auto 15 5.0 16.5 33 6.9 13.5 Homeowners (5) 10 1.2 12.0 20 1.8 9.0 National General Auto 20 1.7 7.6 39 4.0 10.2 Homeowners (5) 7 0.6 13.6 17 4.5 18.5 Three months ended September 30, 2023 Three months ended June 30, 2023 Number of locations (1) Total brand (%) (2) (3) Location specific (%) (4) Number of locations (1) Total brand (%) (2) (3) Location specific (%) (4) Allstate brand Auto 25 2.0 5.9 34 5.8 10.0 Homeowners (5) 12 2.1 6.5 20 2.5 12.3 National General Auto 33 3.3 6.2 27 3.6 13.9 Homeowners (5) 11 1.2 17.6 10 3.8 23.5 (1) Refers to the number of U.S. states, the District of Columbia or Canadian provinces where rate changes have been implemented. Allstate brand operates in 50 states, the District of Columbia, and 5 Canadian provinces. National General operates in 50 states and the District of Columbia. (2) Represents the impact in the locations where rate changes were implemented during the period as a percentage of total brand prior year-end premiums written. (3) Allstate brand implemented auto insurance rate increases totaled $1.31 billion and $1.81 billion in the month and three months ended December 31, 2023, respectively, after implementing $517 million and $1.49 billion of rate increases in the third quarter and second quarter of 2023, respectively. (4) Represents the impact in the locations where rate changes were implemented during the period as a percentage of its respective total prior year-end premiums written in those same locations. (5) Excludes the impact to average premium from inflation in insured home replacement costs and other aging factor adjustments.


 
v3.23.4
Document and Entity Information Document
Jan. 18, 2024
Document Information [Line Items]  
Document Type 8-K
Document Period End Date Jan. 18, 2024
Entity Registrant Name ALLSTATE CORP
Entity Incorporation, State or Country Code DE
Entity File Number 1-11840
Entity Tax Identification Number 36-3871531
Entity Address, Address Line One 3100 Sanders Road
Entity Address, City or Town Northbrook
Entity Address, State or Province IL
Entity Address, Postal Zip Code 60062
City Area Code 847
Local Phone Number 402-5000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0000899051
Common Stock | NEW YORK STOCK EXCHANGE, INC.  
Document Information [Line Items]  
Title of 12(b) Security Common Stock, par value $.01 per share
Trading Symbol ALL
Security Exchange Name NYSE
Common Stock | CHICAGO STOCK EXCHANGE, INC  
Document Information [Line Items]  
Title of 12(b) Security Common Stock, par value $.01 per share
Trading Symbol ALL
Security Exchange Name CHX
Subordinated Debentures Due 2053 at 5.10 Percent | NEW YORK STOCK EXCHANGE, INC.  
Document Information [Line Items]  
Title of 12(b) Security 5.100% Fixed-to-Floating Rate Subordinated Debentures due 2053
Trading Symbol ALL.PR.B
Security Exchange Name NYSE
Series H Preferred Stock | NEW YORK STOCK EXCHANGE, INC.  
Document Information [Line Items]  
Title of 12(b) Security Depositary Shares represent 1/1,000th of a share of 5.100% Noncumulative Preferred Stock, Series H
Trading Symbol ALL PR H
Security Exchange Name NYSE
Series I Preferred Stock | NEW YORK STOCK EXCHANGE, INC.  
Document Information [Line Items]  
Title of 12(b) Security Depositary Shares represent 1/1,000th of a share of 7.375% Noncumulative Preferred Stock, Series J
Trading Symbol ALL PR J
Security Exchange Name NYSE
Series I Preferred Stock | NEW YORK STOCK EXCHANGE, INC.  
Document Information [Line Items]  
Title of 12(b) Security Depositary Shares represent 1/1,000th of a share of 4.750% Noncumulative Preferred Stock, Series I
Trading Symbol ALL PR I
Security Exchange Name NYSE

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