Allstate Finishes 2016 with Strong Profitability

NORTHBROOK, Ill., Feb. 1, 2017

The Allstate Corporation Consolidated Highlights
	Three months ended December 31,									Twelve months ended December 31,
($ in millions, except per share data and ratios) ARIVA.DE Börsen-Geflüster Kurse Allstate Corp. 170,07 $ -1,32%	2016			2015			% / pts Change			2016			2015			% / pts Change
Consolidated revenues	$	9,278		$	8,691		6.8			$	36,534		$	35,653		2.5
Net income applicable to common shareholders	811			460			76.3			1,761			2,055			(14.3)
per diluted common share	2.18			1.18			84.7			4.67			5.05			(7.5)
Operating income*	807			625			29.1			1,838			2,113			(13.0)
per diluted common share*	2.17			1.60			35.6			4.87			5.19			(6.2)
Return on common shareholders' equity
Net income applicable to common shareholders										9.5		%	10.6		%	(1.1) pts
Operating income*										10.4		%	11.6		%	(1.2) pts
Book value per common share										50.77			47.34			7.2
Property-Liability combined ratio
Recorded	89.9			92.0			(2.1) pts			96.1			94.9			1.2 pts
Underlying combined ratio* (excludes catastrophes, prior year reserve reestimates and amortization of purchased intangibles)	87.7			87.4			0.3 pts			87.9			88.7			(0.8) pts
Catastrophe losses	303			358			(15.4)			2,572			1,719			49.6

"Allstate's ability to execute operational improvements in a challenging environment delivered excellent results in 2016," said Tom Wilson, chairman and chief executive officer of The Allstate Corporation. "In the fourth quarter, net income was $811 million, with operating earnings per share* of $2.17. For the full year, net income was $1.76 billion and operating income* was $1.84 billion on total revenues of $36.5 billion. Overall insurance policies in force declined modestly as strong growth at Allstate Benefits was more than offset by a decline in Property-Liability insurance caused by auto profit improvement actions. The recorded combined ratio for the year was 96.1 as the impact of an $853 million increase in catastrophe losses was partially offset by good underlying insurance margins. The full-year underlying combined ratio* of 87.9 was at the favorable end of our annual outlook range of 88-90, as the auto profit improvement plan was on pace, homeowners margins were maintained and expenses were well controlled. Continuation of these initiatives are expected to result in an annual underlying combined ratio* of 87-89⁽¹⁾ for 2017.

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