Catastrophes and declining investments led to a 194 percent loss in third quarter net income at Allstate Corp., but the company's chief executive said it could have been much worse if the company had not acted to mitigate losses.
Speaking during a financial analyst's call today, Thomas J. Wilson, president and chief executive officer for the Northbrook, Ill.-based insurer, said despite a well performing property-casualty book of business, the company suffered significant losses from what are expected to become two of the top 10 most expensive hurricane events.
He also noted the company has made significant adjustments to its investment book reducing holdings that are money losers.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
