Exhibit 99.1

earningsreleaseimagea10.jpg
FOR IMMEDIATE RELEASE

Contacts:    
Greg Burns                John Griek
Media Relations          Investor Relations
(847) 402-5600                (847) 402-2800

Allstate Delivers Strong Results
Positioned for profitable growth in 2018

NORTHBROOK, Ill., February 7, 2018 – The Allstate Corporation (NYSE: ALL) today reported financial results for the fourth quarter of 2017.
The Allstate Corporation Consolidated Highlights
 
Three months ended December 31,
 
Twelve months ended December 31,
($ in millions, except per share data and ratios)
2017
2016
% / pts
Change
 
2017
2016
% / pts
Change
Consolidated revenues
$
9,843

$
9,278

6.1

 
$
38,524

$
36,534

5.4

Net income applicable to common shareholders(1)
1,220

811

50.4

 
3,073

1,761

74.5

per diluted common share
3.35

2.18

53.7

 
8.36

4.67

79.0

Adjusted net income*(2)
762

807

(5.6
)
 
2,467

1,838

34.2

per diluted common share*
2.09

2.17

(3.7
)
 
6.71

4.87

37.8

Return on common shareholders’ equity (trailing twelve months)
 
 
 
 
 
Net income applicable to common shareholders
 
 


 
15.5
%
9.5
%
6.0

Adjusted net income*
 
 
 
 
13.3
%
10.4
%
2.9

Book value per common share
 
 


 
57.58

50.77

13.4

Property-Liability combined ratio
 
 
 
 
 
 
 
Recorded
91.0

89.7

1.3

 
93.6

96.0

(2.4
)
Underlying combined ratio* (excludes catastrophes, prior year reserve reestimates and amortization of purchased intangibles)
85.7

87.4

(1.7
)
 
84.9

87.6

(2.7
)
Underlying combined ratio* as historically reported (includes Service Businesses)
 
 
 
 
85.6

87.9

(2.3
)
Catastrophe losses
599

303

97.7

 
3,234

2,572

25.7

Total policies in force (in thousands)
 
 
 
 
82,276

43,811

87.8

(1) 
2017 results include a tax legislation benefit of $506 million related to the Tax Cuts and Jobs Act of 2017, primarily due to the revaluation of Allstate’s deferred tax assets and liabilities. The impact of tax legislation is excluded from adjusted net income.
(2) 
In the fourth quarter, Allstate discontinued the use of the term “operating income” and replaced the label with “adjusted net income”.
*
Measures used in this release that are not based on accounting principles generally accepted in the United States of America (“non-GAAP”) are denoted with an asterisk and defined and reconciled to the most directly comparable GAAP measure in the “Definitions of Non-GAAP Measures” section of this document.

“In 2017, Allstate excelled at delivering strong current results and implementing multiple initiatives to drive long-term profitable growth,” said Tom Wilson, Chairman and Chief Executive Officer of The Allstate Corporation. “Policies in force reached 82.3 million, revenues grew 5% to $38.5 billion and net income was $3.07 billion due to strong performance from our market-facing businesses and investments. The Tax Cuts and Jobs Act resulted in a $506 million increase to net income and will provide future additional resources to accelerate the company’s strategies. Fourth quarter adjusted net income* was $762 million, excluding the impact of tax reform and goodwill impairment related to changes in reportable segments, as auto and homeowners insurance margins remained strong and



1

The following information was filed by Allstate Corp (ALL) on Wednesday, February 7, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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