Allstate tops profit estimates on higher premiums, investment returns

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 63%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

Explore stories from Atlantic Canada.

Islanders flock to Charlottetown Flea Market for affordable finds amid rising costs | SaltWire - Insurer Allstate posted an upbeat first-quarter profit on Wednesday, helped by higher premiums and stronger investment returns.

Insurers usually see stable product demand irrespective of economic conditions, mainly due to the widespread adoption of employer-sponsored and government-mandated policies.Allstate's adjusted first-quarter swung to a profit of $5.13 per share in the three months ended March 31 from a loss of $1.30 per share in the year ago quarter. Analysts on an average estimated the company to post a profit of $3.94 per share, according to LSEG data.

The company's consolidated premiums written for the quarter were at $14.29 billion, up 11.1% from the year-ago quarter. Allstate's investment income, on the other hand, rose to $764 million in the quarter from $575 million in 2023, mostly on the back of higher market-based and performance-based income.

The Northbrook, Illinois-based company posted an underlying combined ratio of 86.9%, compared to 93.3% a year earlier. A ratio below 100% means the insurer earned more in premiums than it paid out in claims.

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 45. in BR
 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Eastway Tank's insurance broker defends itself against company's $14.4 million claimExplore stories from Atlantic Canada.
Fonte: SaltWire Network - 🏆 45. / 63 Consulte Mais informação »