Allstate reported second-quarter revenue of $17.54 billion, a 4.6% increase from a year ago, while earnings per share jumped to $8.99 from $5.94. The revenue figure fell about 1% short of the Zacks Consensus Estimate of $17.73 billion, but EPS handily beat the consensus of $5.76 by more than 56%. The property-liability combined ratio improved to 86.6%, well below the 93.9% analyst estimate, driven by a loss ratio of 64.8% versus the expected 72%. Net premiums earned in the property-liability segment came in at $14.92 billion, slightly below the $15.19 billion estimate, while underwriting income reached $2.01 billion, more than double the $989.25 million consensus.
The Allstate CorporationEPS beat estimates and underwriting income more than doubled.
