Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
ALL > SEC Filings for ALL > Form 10-Q on 31-Jul-2013All Recent SEC Filings

Show all filings for ALLSTATE CORP | Request a Trial to NEW EDGAR Online Pro

Form 10-Q for ALLSTATE CORP


31-Jul-2013

Quarterly Report


Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND OVERVIEW

The following discussion highlights significant factors influencing the consolidated financial position and results of operations of The Allstate Corporation (referred to in this document as "we," "our," "us," the "Company" or "Allstate"). It should be read in conjunction with the condensed consolidated financial statements and notes thereto found under Part I. Item 1. contained herein, and with the discussion, analysis, consolidated financial statements and notes thereto in Part I. Item 1. and Part II. Item 7. and Item 8. of The Allstate Corporation Annual Report on Form 10-K for 2012. Further analysis of our insurance segments is provided in the Property-Liability Operations (which includes the Allstate Protection and the Discontinued Lines and Coverages segments) and in the Allstate Financial Segment sections of Management's Discussion and Analysis ("MD&A"). The segments are consistent with the way in which we use financial information to evaluate business performance and to determine the allocation of resources.

Allstate is focused on the following priorities:

          grow insurance premiums;

          maintain auto profitability;

          raise returns in homeowners and annuity businesses;

          proactively manage investments; and

          reduce our cost structure.

HIGHLIGHTS

Consolidated net income available to common shareholders was $434 million in the second quarter of 2013 compared to $423 million in the second quarter of 2012, and $1.14 billion in the first six months of 2013 compared to $1.19 billion in the first six months of 2012. Net income available to common shareholders per diluted common share was $0.92 in the second quarter of 2013 compared to $0.86 in the second quarter of 2012, and $2.39 in both the first six months of 2013 and 2012.

Property-Liability net income available to common shareholders was $617 million in the second quarter of 2013 compared to $354 million in the second quarter of 2012, and $1.23 billion in the first six months of 2013 compared to $1.05 billion in the first six months of 2012.

The Property-Liability combined ratio was 96.1 in the second quarter of 2013 compared to 98.0 in the second quarter of 2012 and 94.7 in the first six months of 2013 compared to 95.1 in the first six months of 2012.

Allstate Financial net income available to common shareholders was $190 million in the second quarter of 2013 compared to $132 million in the second quarter of 2012, and $336 million in the first six months of 2013 compared to $244 million in the first six months of 2012.

Total revenues were $8.79 billion in the second quarter of 2013 compared to $8.28 billion in the second quarter of 2012, and $17.25 billion in the first six months of 2013 compared to $16.64 billion in the first six months of 2012.

Property-Liability premiums earned totaled $6.86 billion in the second quarter of 2013, an increase of 2.9% from $6.67 billion in the second quarter of 2012, and $13.63 billion in the first six months of 2013, an increase of 2.5% from $13.30 billion in the first six months of 2012.

Investments totaled $92.32 billion as of June 30, 2013, decreasing from $97.28 billion as of December 31, 2012. Net investment income was $984 million in the second quarter 2013, a decrease of 4.1% from $1.03 billion in the second quarter of 2012, and $1.97 billion in the first six months of 2013, a decrease of 3.4% from $2.04 billion in the first six months of 2012.

Net realized capital gains were $362 million in the second quarter of 2013 compared to $27 million in the second quarter of 2012, and $493 million in the first six months of 2013 compared to $195 million in the first six months of 2012.

On June 7, 2013, we issued $500 million of 3.15% Senior Notes due 2023 and $500 million of 4.50% Senior Notes due 2043.

On June 12, 2013, we issued 11,500 shares of 5.625% Noncumulative Perpetual Preferred Stock for aggregate proceeds of $287.5 million.

On June 20, 2013, we repurchased principal amounts of $1.83 billion of debt and recognized a loss on extinguishment of $480 million, pre-tax, representing the excess of the repurchase price over the principal repaid, the write-off of the unamortized debt issuance costs and other costs related to the repurchase transaction.


Book value per diluted common share (ratio of common shareholders' equity to total common shares outstanding and dilutive potential common shares outstanding) was $41.63 as of June 30, 2013, an increase of 4.8% from $39.73 as of June 30, 2012 and a decrease of 1.8% from $42.39 as of December 31, 2012.

For the twelve months ended June 30, 2013, return on the average of beginning and ending period common shareholders' equity was 11.6%, an increase of 0.6 points from 11.0% for the twelve months ended June 30, 2012.

As of June 30, 2013, shareholders' equity was $19.87 billion. This total included $2.37 billion in deployable assets at the parent holding company level.

  Add ALL to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for ALL - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.