| 2008-02-26 | Earnings/Dividends | NORTHBROOK, Ill.--(BUSINESS WIRE)--The Allstate Corporation (NYSE: ALL) today announced a quarterly dividend of forty-one cents ($0.41) on each outstanding share of the Corporations common stock, payable in cash on April 1, 2008 to stockholders of record at the close of business on March 14, 2008. Todays announcement represents a 7.9% increase over the first quarter 2007 dividend and marks the 14th consecutive year that Allstate has increased its dividend.
The Corporation also announced that its board of directors approved a new $2 billion share repurchase program to be completed by March 31, 2009. The new repurchase program will begin upon the completion of the $3 billion repurchase program authorized by the board in October 2006 and increased to $4 billion in April 2007, a program that is expected to be completed by the end of the first quarter of 2008. The scale and timing of the new share repurchase program is consistent with the $2 billion-a-year pace of the previous repurchase program.
With our disciplined pricing strategies and focus on reinventing protection and retirement for the consumer, our company is poised to once again outperform the industry in 2008, said Allstate president and chief executive officer Thomas J. Wilson. We expect that these strategies, coupled with the capital management actions we announced today, will drive shareholder value.
This latest share repurchase program is a continuation of our philosophy of disciplined capital management, Wilson added, noting that since its initial public offering, the Corporation has repurchased 390 million shares of outstanding common stock for $16.51 billion and paid $8.26 billion in dividends to shareholders.
The Allstate Corporation (NYSE: ALL) is the nations largest publicly held personal lines insurer. Widely known through the Youre In Good Hands With Allstate slogan, Allstate helps individuals in approximately 17 million households protect what they have today and better prepare for tomorrow through approximately 14,900 exclusive agencies and financial representatives in the U.S. and Canada. Customers can access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at allstate.com and 1-800 Allstate. Encompass and Deerbrook Insurance brand property and casualty products are sold exclusively through independent agents. The Allstate Financial Group provides life insurance, supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies, independent agencies, financial institutions and broker-dealers.
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| 2008-02-20 | Contract/Agreements | BATON ROUGE, La.--(BUSINESS WIRE)--Allstate announced today that it reached an agreement with the Louisiana Department of Insurance concerning its 2006 reinspection programs and wind and hail coverage.
We are pleased to work together with the commissioner and the department to resolve this situation, said Ron Corbin, field vice president at Allstate. This agreement is the result of our desire to find a solution that meets the needs of the customers and the agents who serve them.
Under the agreement, Allstate will offer wind and hail coverage to a limited number of customers who had it removed as long as, on the date coverage was removed, the customer had continuously maintained homeowners coverage on the same property for more than three years with the Allstate companies. A few hundred customers are included in this group, or far less than one percent of the total number of Louisiana Allstate homeowners customers.
As part of the agreement related to the reinspection program, Allstate has agreed to pay the sum of $250,000 to the Louisiana Department of Insurance to avoid expenses associated with a hearing on this matter.
We are confident that we properly implemented the reinspection program. However, we decided it was in the best interest of all parties involved to reach an amicable resolution, said Corbin.
The Allstate Corporation (NYSE:ALL) is the nations largest publicly held personal lines insurer. Widely known through the Youre In Good Hands With Allstate slogan, Allstate helps individuals in approximately 17 million households protect what they have today and better prepare for tomorrow through approximately 14,900 exclusive agencies and financial representatives in the U.S. and Canada. Customers can access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at allstate.com and 1-800 Allstate. Encompass and Deerbrook Insurance brand property and casualty products are sold exclusively through independent agents. The Allstate Financial Group provides life insurance, supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies, independent agencies, financial institutions and broker-dealers.
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| 2008-01-29 | Earnings/Dividends | NORTHBROOK, Ill.--(BUSINESS WIRE)--The Allstate Corporation (NYSE:ALL) today reported results for the fourth quarter of 2007 and for the year ended December 31, 2007:
Consolidated Highlights Three Months Ended December 31, Twelve Months Ended December 31, Change Change (in millions, except per share amounts and ratios)
Est. 2007
2006
$ Amt
%
Est. 2007
2006
$ Amt
%
Consolidated revenues $ 8,991 $ 9,102 $ (111 ) (1.2 ) $ 36,769 $ 35,796 $ 973 2.7 Net income 760 1,213 (453 ) (37.3 ) 4,636 4,993 (357 ) (7.2 ) Net income per diluted share 1.36 1.93 (0.57 ) (29.5 ) 7.77 7.84 (0.07 ) (0.9 ) Operating income(a)
701 1,121 (420 ) (37.5 ) 3,863 4,888 (1,025 ) (21.0 ) Operating income per diluted share(a)
1.24 1.78 (0.54 ) (30.3 ) 6.47 7.67 (1.20 ) (15.6 ) Return on equity 21.2 23.8 -- (2.6) pts. Operating income return on equity(a)
19.0 25.8 -- (6.8) pts. Book value per share 38.58 34.84 3.74 10.7 Book value per share, excluding the impact of unrealized net capital gains on fixed income securities(a)
38.11
33.33
4.78
14.3
Catastrophe losses 472 279 193 69.2 1,409 810 599 74.0 Property-Liability combined ratio 95.9 85.7 -- 10.2 pts. 89.8 83.6 -- 6.2 pts. Property-Liability combined ratio excluding the effect of catastrophes and prior year reserve reestimates (underlying combined ratio)(a)
88.6
84.3
--
4.3 pts.
85.7
83.3
--
2.4 pts.
(a) Measures used in this release that are not based on accounting principles generally accepted in the United States (non-GAAP) are defined and reconciled to the most directly comparable GAAP measure and operating measures are defined in the Definitions of Non-GAAP and Operating Measures section of this document.
Allstates strategy and operating performance in 2007 delivered on our commitments, generated excellent results, and enabled us to strengthen our competitive position, said Thomas J. Wilson, president and chief executive officer of The Allstate Corporation. For the year, revenues reached $36.8 billion and net income of $4.6 billion ($7.77 per diluted share) was the second highest in Company history. The underlying Property-Liability combined ratio met the goal set for 2007; and return on equity was 21.2 percent, reflecting both the strong operating results and aggressive capital management.
Our team also delivered strong results in the fourth quarter despite increased catastrophe losses and tumultuous investment markets, continued Wilson. Net income for the fourth quarter of 2007 was $760 million, down $453 million from the year earlier period, due to a higher underlying Property-Liability combined ratio, unfavorable prior year reserve reestimates and an increase in catastrophe losses.
Consumer Focus
Our consumer-focused strategy enabled us to succeed in the market by offering innovative products and services that are reinventing protection for consumers, Wilson added.
Allstate Your Choice Auto Insurance (YCA) continued to add customers at a rate of more than 100,000 per month in the fourth quarter, bringing the total YCA policies sold since inception to 3.2 million. Allstate Your Choice Home, the Companys unique homeowners insurance product, is now available in 15 states. Allstates product offering for higher risk drivers, Allstate BlueSM, is now available in 12 states and early production shows encouraging results. In addition, Allstate GreenSM, a new eco-friendly insurance option that offers consumers a convenient way to help the environment, is now available for consumers in Colorado and Ohio.
Operational Excellence
Maintaining a consistent focus on profitable growth resulted in excellent results for our Property-Liability business in 2007, Wilson said. Our consumer focus enabled us to maintain pricing discipline in the face of tough competition, with average premiums increasing in our core lines. Mar |
| 2008-01-22 | Earnings/Dividends | NORTHBROOK, Ill.--(BUSINESS WIRE)--The Investor Relations department of The Allstate Corporation (NYSE: ALL) will conduct a conference call on Wednesday, January 30, 2008 at 9:00 a.m. Eastern Standard Time (EST) to discuss fourth quarter 2007 earnings. The company will issue a press release announcing the results the day before on Tuesday, January 29, 2008 at or after 4:05 p.m. EST. That press release will be available on Allstates website at www.allstate.com shortly thereafter.
Those interested in listening to the call live can access anInternet webcast on the companys Web site. Go to www.allstate.com/ir, and then click on the Live Webcast link. Supplementary financial and statistical information that may be discussed during the call can be accessed on the company Web site by clicking on Quarterly Investor Info. For those not able to listen to the call live, the entire conference call will be available for replay via webcast or downloadable MP3 file on the companys Web site beginning shortly after the call ends on Wednesday, January 30, 2008.
The Allstate Corporation (NYSE: ALL) is the nations largest publicly held personal lines insurer. Widely known through the Youre In Good Hands With Allstate slogan, Allstate helps individuals in approximately 17 million households protect what they have today and better prepare for tomorrow through approximately 14,600 exclusive agencies and financial representatives in the U.S. and Canada. Customers can access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at allstate.com and 1-800 Allstate. Encompass and Deerbrook Insurance brand property and casualty products are sold exclusively through independent agents. The Allstate Financial Group provides life insurance, supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies, independent agencies, financial institutions and broker-dealers.
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| 2007-12-06 | Contract/Agreements |
BROOKFIELD, Wis.--(BUSINESS WIRE)--CheckFree, now part of Fiserv Inc. (NASDAQ:FISV), a leading provider of information technology services to the financial industry, today announced an agreement with The Allstate Corporation (NYSE:ALL) to distribute electronic bills to Allstate customers through more than 3,000 electronic billing and payment websites powered by CheckFree. Customers can receive electronic bills (e-bills) from Allstate at their preferred bank, brokerage or credit union website beginning this month.
“CheckFree makes it easier to do business with Allstate and easy for our customers to do something good for the environment,” said Cathy Lazaroff, vice president, customer experience and innovation for Allstate. “The savings in time, paper and hassle is a win-win for all involved.”
E-bills are paperless bills that are delivered directly to a customer’s online banking account. Unlike a paper bill delivered via the mail, e-bills enable the entire viewing and payment experience to take place online. With e-bills, consumers can review balances, transactions and all the other details available in paper bills, then schedule payments with just a few clicks of the mouse. Customers who receive e-bills through their online banking accounts can sign up for email alerts to let them know when a bill has arrived, remind them when a bill is due or to confirm when a payment has been sent.
“Customers enjoy the convenience of being able to receive bills online at the same website where they pay their bills,” said Jardon Bouska, executive vice president and general manager of CheckFree Electronic Biller Services, now part of Fiserv. “Allstate’s sizeable national customer base can now receive e-bills directly at their bank, brokerage or credit union website. Providing customers with more control over how, when and where they receive and pay their bill is a tangible example of how companies like Allstate can optimize customer interactions to build stronger relationships.”
A 2007 study by CheckFree Research Services showed that e-bills enhance customer satisfaction, with 35 percent of consumers who receive e-bills at a bank website indicating that the service had positively impacted their relationship with the billing company. In addition, 39 percent of consumers who receive e-bills said they were less likely to switch to a competitor and 81 percent would recommend their online bill payment service to a friend or relative. Paperless billing also provides enhanced security for consumers, because it reduces access to personal information from unsecured mailboxes.
In addition, receiving bills online can have a positive impact on the environment by reducing the amount of paper needed for bills, checks and envelopes, and eliminating the need to transport paper bills to complete transactions. In June 2007, Javelin Strategy & Research reported that if all U.S. households viewed and paid their bills online, it would annually save 16.5 million trees, and reduce toxic air pollutants by 3.9 billion pounds of CO2 equivalents (greenhouse gases), similar to having 355,015 fewer cars on the road.
About Allstate Corporation
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 helps individuals in approximately 17 million households protect what they have today and better prepare for tomorrow through approximately 14,600 exclusive agencies and financial representatives in the U.S. and Canada. Customers can access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at allstate.com and 1-800 Allstate®. Encompass® and Deerbrook® Insurance brand property and casualty products are sold exclusively through independent agents. The Allstate Financial Group provides life insurance, supplemental accident and health insurance, |