The Allstate Corporation reported consolidated revenues of $16.506 billion for the fourth quarter of 2024, an increase of 11.3% from the prior year. Net income applicable to common shareholders for the quarter was $1.899 billion, up 30.1% compared to the prior year quarter.
Adjusted net income for Q4 was $2.062 billion, or $7.67 per diluted share, representing a 33.8% increase. For the full year 2024, adjusted net income reached $4.9 billion, resulting in an adjusted net income return on equity of 26.8%.
Property-Liability underwriting income for the fourth quarter was $1.832 billion, a 38.3% increase, with auto insurance underwriting income at $603 million and homeowners insurance underwriting income at $1.070 billion. Catastrophe losses for Q4 were $410 million, bringing full-year catastrophe losses to $4.964 billion. Allstate expects California wildfires to cost approximately $1.1 billion pre-tax, net of reinsurance.
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