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%

México Noticias Noticias

México Últimas Noticias,México Titulares

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.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 45. in MX
 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

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