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Transformative Growth continued to reduce costs, allowing us to provide more competitive prices. 'In addition to offsetting short-term volatility, our ongoing strategic initiatives have increased long-term value. In the quarter, revenues of $12.5 billion generated net income of $508 million and adjusted net income* earnings per share of $0.73.' The catastrophe risk and return strategy also benefited results as nearly $1 billion of net reinsurance recoveries offset the impact of increased severe weather, including Hurricane Ida. Transformative Growth is lowering expenses, providing further protection from increased loss costs. Performance-based investment income increased by $308 million reflecting the strategic decision to increase these investments, which offsets some of the decline in quarterly underwriting income.

Auto insurance did generate attractive margins for the first nine months of the year, and we are filing for rate increases to maintain historical profitability levels. 'Auto insurance had an underwriting loss in the quarter as supply chain disruptions drove rapid price increases for used cars and original equipment parts. 'Allstate’s operational expertise enables us to address inflation in auto repair costs while executing our Transformative Growth strategy,' said Tom Wilson, Chair, President and CEO of The Allstate Corporation. Measures used in this release that are not based on accounting principles generally accepted in the United States of America ('non-GAAP') are denoted with an asterisk and defined and reconciled to the most directly comparable GAAP measure in the 'Definitions of Non-GAAP Measures' section of this document.

Property-Liability insurance premiums earned Return on Allstate common shareholders’ equity (trailing twelve months) Net income applicable to common shareholders ($ in millions, except per share data and ratios)

The Allstate Corporation Consolidated Highlights

Allstate good hands repair network direct repair program