Consensus

Allstate has been a disaster stock of its own this year, down 22%. In homeowners insurance, the company said catastrophe losses were “substantially” above the 15-year average in the second quarter, resulting in an underwriting loss of $1.3 billion. The firm said it lost 678 million dollars in auto insurance. For the full year, Allstate is on track to report a net loss of 689 million dollars, based on consensus estimates. Its overall profitability on insurance, measured by its “combined ratio,” is forecast at 106.5% for the year. A ratio above 100% indicates that an insurer is paying more in claims than it is taking in through premiums, implying an operating loss.
–Barron’s