Allstate Corp

XMUN:ALS

Results: Allstate said it delivered "exceptional earnings" in the second quarter, with revenue up 11.8% to $18.6 billion and adjusted net income of $2.3 billion, or $8.99 per share.

Underwriting: Property-Liability performance improved sharply, with the combined ratio falling to 86.6% and underwriting income rising nearly 57% to $2.0 billion.

Growth: Net premiums written rose 2.6%, policies in force grew 3.8% to 215.9 million, and new business gains were strong in both auto and homeowners.

Technology: Management framed Allstate as a technology-driven company and said its new AI platform, ALLIE, should help lower costs, improve pricing and claims, and support growth.

Capital: Allstate returned $1.3 billion to shareholders in the quarter, including $1.0 billion of share repurchases, and said $2.6 billion remains under its $4.0 billion buyback authorization.

Outlook: Management said it is not targeting a specific combined ratio or pricing level, but will keep balancing growth, margins and capital generation across channels and products.