14 Allstate Statistics (2024):
Revenue, Sales, Losses, Catastrophe

Allstate is one of the largest insurance providers in the United States, offering everything from auto and home insurance to life and business coverage.

Known for its slogan "You're in Good Hands," Allstate has consistently lead in auto, home, and life insurance for decades.

Allstate was founded in 1931 as part of Sears, Roebuck and Co. Since then, Allstate has gone on to generate $57.09 billion in annual revenue in 2023.

Continue reading to explore the latest Allstate statistics in 2024.

Here's a quick breakdown of what we'll cover:

• Allstate Revenue
• Allstate Profit
• Allstate Losses
• Allstate Debt
• Allstate Market Share
• Allstate Advertising Spend
• Allstate Earned Premiums
• Allstate Earnings Per Share (EPS)
• Allstate Catastrophe Losses
• Allstate Number of Employees
• Allstate Total Assets
• Allstate Investment Portfolio
• Allstate Acquisitions
• Allstate Acquired

• Allstate generated $57.09 billion in annual revenue in 2023.
• Allstate reported a $213 million loss in 2023.
• Allstate had $5.64 billion in catastrophe losses in 2023.
• Allstate holds a 10.4% market share in the U.S. personal auto insurance market, ranking it fourth in the country.

Allstate brought in an annual revenue of $57.09 billion in 2023, an 11% increase from $51.41 billion in 2022.

Allstate's revenue growth was largely fueled by higher premiums and increased policy sales.

Allstate has generated $30.97 billion in revenue in 2024 as of Q2.

Here's a table of Allstate's revenue since 2010:

In 2023, Allstate reported a $213 million loss, an 84% improvement from its $1.34 billion loss in 2022. This marks two consecutive years of losses, following an all-time peak profit of $5.58 billion in 2020.

Allstate's profit recovery has been slow following a significant downturn in 2021.

Here's a table charting Allstate's profit since 2010:

Allstate reported a loss of $213 million in 2023, and a $1.2 billion loss in 2022.

2022 was the first year Allstate had ever reported annual losses.

Here's a table of the last two years (losses) for Allstate:

The turnaround in 2023 was largely due to Allstate raising premiums and cutting business costs, helping lower the damage that inflation and severe storms caused in 2022.

Here's a chart showing Allstate's losses & profits by quarter since Q1 2020:

Allstate reported peak losses in Q1 2021 of -$1.39 billion.

Here's all the quarters where Allstate reported losses in the recent years.

Allstate's debt was $7.94 billion in 2023, a 0.25% decrease from $7.96 billion in 2022.

Allstate's debt has increased by 34% since 2010, for a total of $2.03 billion.

Here's a table of Allstate's debt since 2010:

Allstate has a 10.4% market share of the U.S. personal auto insurance market, making it the fourth-largest auto insurer in the country.

Allstate's home insurance market share is 8.9%, making it the second largest homeowner insurer in the U.S.

Allstate spent $638 million on advertising in 2023, focusing heavily on digital marketing and its "You're in Good Hands" campaign.

Allstate spent 31% less on advertising in 2023, compared to the previous year.

Here's Allstate's advertising spend of over the years since 2019:

Allstate earned $48.43 billion in premiums in 2023, a 10% increase from the previous year.

The growth in Allstate's earned premiums was largely driven by higher auto insurance rates and the expansion of its homeowners' policies.

Allstate’s earnings per share (EPS) showed improvement in 2023, increasing from -$5.14 in 2022 to -$1.20 in 2023. While still negative, it's a significant recovery compared to 2022.

The table below shows Allstate's EPS performance from 2010 to 2023:

Allstate reported $5.64 billion in catastrophe losses in 2023. An 81% increase in catastrophe losses compared to the year before.

These losses were primarily caused by hurricanes and wildfires, which significantly increased the number of claims.

In 2024, Allstate has already reported $2.85 billion in catastrophe losses as of Q2.

With catastrophe losses already this high halfway through 2024, the total for the year could surpass 2023 levels.

Here's Allstate's catastrophe losses over the years since 2013:

Allstate employed 53,000 employees in 2023, a decrease of 1500 employees compared to the year before.

The drop in Allstate's employees was due to restructuring efforts aimed at lowering operating costs.

Here's a table showing Allstate's number of employees since 2010:

Allstate's total assets reached $103.36 billion in 2023, a 5.48% increase from $97.98 billion in 2022.

The growth came from Allstate's recovery after the drop in 2021, as well as some improvement in their portfolio performance.

Allstate's total assets have decreased 16% in the last 10 years to a total of $20.1 billion.

Here's a table of Allstate's total assets since 2014:

Allstate's investment portfolio was valued at $66.68 billion in 2023, up from $61.83 billion in 2022.

This growth was largely driven by strong operating cash flows and higher fixed income valuations.

Allstate has acquired many companies over the years, with the most recent being the purchase of National General Holdings in 2021 for $4 billion.

Other notable ones include: Esurance, SquareTrade, InfoArmor, and SafeAuto.

Here's a table showing all the companies that Allstate has acquired over the years:

In 2021, Allstate sold its Allstate Life Insurance Company (ALIC) to Blackstone for $2.8 billion, as a move to exit the life insurance business, and focus more on property and casualty insurance.

In 2022, Allstate sold its headquarters in Northbrook, Illinois, to support a new hybrid working style, and further reduce costs.

In 2024, Allstate announced the sale of it's Employer Voluntary Benefits business to StanCorp Financial Group for $2 billion.

The deal is expected to close in the first half of 2025 and is part of Allstate's ongoing efforts to streamline its portfolio.

That's it for my Allstate statistics for 2024!

Allstate has faced its share of challenges, including rising catastrophe losses and consecutive years of financial strain.

However, despite these setbacks, the company has shown a strong level of resilience.

Who knows what's in store for Allstate?