Reportable Segments (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of business segments revenue disclosures


Reportable segments revenue information
	For the years ended December 31,
($ in millions)	2020		2019		2018
Property-Liability
Insurance premiums
Auto	$	24,640	$	24,188	$	22,970
Homeowners	8,254		7,912		7,517
Other personal lines	1,919		1,861		1,808
Commercial lines	767		882		655

Allstate Protection	35,580		34,843		32,950
Discontinued Lines and Coverages	—		—		—
Total Property-Liability insurance premiums	35,580		34,843		32,950
Other revenue	736		741		738
Net investment income	1,421		1,533		1,464
Realized capital gains (losses)	990		1,470		(639)
Total Property-Liability	38,727		38,587		34,513

Protection Services
Consumer product protection plans	909		633		503
Roadside assistance	188		238		263
Finance and insurance products	396		362		332
Intersegment premiums and service fees (1)	147		154		122
Other revenue (2)	208		188		82
Net investment income	44		42		27
Realized capital gains (losses)	30		32		(11)
Total Protection Services	1,922		1,649		1,318

Allstate Life
Traditional life insurance premiums	633		630		600
Accident and health insurance premiums	2		2		2
Interest-sensitive life insurance contract charges	705		711		713
Other revenue	121		125		119
Net investment income	502		514		505
Realized capital gains (losses)	(10)		1		(14)
Total Allstate Life	1,953		1,983		1,925

Allstate Benefits
Traditional life insurance premiums	46		43		44
Accident and health insurance premiums	926		988		980
Interest-sensitive life insurance contract charges	122		114		111
Net investment income	78		83		77
Realized capital gains (losses)	8		12		(9)
Total Allstate Benefits	1,180		1,240		1,203

Allstate Annuities
Fixed annuities contract charges	10		13		15
Net investment income	761		917		1,096
Realized capital gains (losses)	279		346		(166)
Total Allstate Annuities	1,050		1,276		945

Corporate and Other

Net investment income	47		70		71
Realized capital gains (losses)	59		24		(38)



Total Corporate and Other	106		94		33
Intersegment eliminations (1)	(147)		(154)		(122)
Consolidated revenues	$	44,791	$	44,675	$	39,815

(1)Intersegment insurance premiums and service fees are primarily related to Arity and Allstate Roadside and are eliminated in the consolidated financial statements.

(2)Other revenue is primarily related to Allstate Identity Protection, Allstate Dealer Services, and Allstate Protection Plans.

Schedule of business segments net income disclosures


Reportable segments financial performance
	For the years ended December 31,
($ in millions)	2020		2019		2018
Property-Liability
Allstate Protection	$	4,566	$	2,912	$	2,343
Discontinued Lines and Coverages	(144)		(108)		(90)
Total underwriting income	4,422		2,804		2,253
Net investment income	1,421		1,533		1,464
Income tax expense on operations	(1,166)		(887)		(747)
Realized capital gains (losses), after-tax	774		1,161		(500)

Tax Legislation expense	—		—		(5)
Property-Liability net income applicable to common shareholders	5,451		4,611		2,465

Protection Services
Adjusted net income	153		38		8
Realized capital gains (losses), after-tax	23		25		(9)
Amortization of purchased intangibles, after-tax	(84)		(97)		(74)
Impairment of purchased intangibles, after-tax	—		(43)		—
Tax Legislation expense	—		—		(4)
Protection Services net income (loss) applicable to common shareholders	92		(77)		(79)

Allstate Life
Adjusted net income	194		261		295
Realized capital gains (losses), after-tax	(9)		—		(11)
Valuation changes on embedded derivatives that are not hedged, after-tax	(34)		(9)		—
DAC and DSI amortization related to realized capital gains and losses and valuation changes on embedded derivatives that are not hedged, after-tax	8		(5)		(8)


Tax Legislation expense	—		—		(16)
Allstate Life net income applicable to common shareholders	159		247		260

Allstate Benefits
Adjusted net income	96		115		124
Realized capital gains (losses), after-tax	7		9		(7)
DAC and DSI amortization related to realized capital gains and losses, after-tax	—		—		1

Tax Legislation benefit	—		—		—
Allstate Benefits net income applicable to common shareholders	103		124		118

Allstate Annuities
Adjusted net (loss) income	(53)		10		131
Realized capital gains (losses), after-tax	221		274		(131)
Valuation changes on embedded derivatives that are not hedged, after-tax	(2)		(6)		3

Premium deficiency for immediate annuities, after-tax (1)	(178)		—		—
Gain on disposition of operations, after-tax	3		4		4

Tax Legislation benefit	—		—		69
Allstate Annuities net (loss) income applicable to common shareholders	(9)		282		76

Corporate and Other
Adjusted net loss	(428)		(438)		(406)
Realized capital gains (losses), after-tax	47		19		(30)
Pension and other postretirement remeasurement gains (losses), after-tax	39		(90)		(370)

Curtailment gain, after-tax	7		—		—
Business combination expenses, after-tax	—		—		(7)
Tax Legislation expense	—		—		(15)
Corporate and Other net loss applicable to common shareholders	(335)		(509)		(828)

Consolidated net income applicable to common shareholders	$	5,461	$	4,678	$	2,012

(1) Contract benefits increased by $225 million, pre-tax, for premium deficiency on immediate annuities with life contingencies due to updated investment and actuarial assumptions in the third quarter of 2020.

Additional significant financial performance data


Additional significant financial performance data
	For the years ended December 31,
($ in millions)	2020		2019		2018
Amortization of DAC
Property-Liability	$	4,642	$	4,649	$	4,475
Protection Services	658		543		463
Allstate Life	149		173		132
Allstate Benefits	177		161		145
Allstate Annuities	4		7		7
Consolidated	$	5,630	$	5,533	$	5,222


Income tax expense (benefit)
Property-Liability	$	1,382	$	1,196	$	613
Protection Services	26		(18)		(19)
Allstate Life	17		53		75
Allstate Benefits	28		35		32
Allstate Annuities	(7)		73		(66)
Corporate and Other	(63)		(97)		(167)
Consolidated	$	1,383	$	1,242	$	468

Summarized data for total assets and investments


Reportable segment total assets, investments and deferred policy acquisition costs (1)
	As of December 31,
($ in millions)	2020		2019
Assets
Property-Liability	$	69,171	$	67,243
Protection Services	6,177		5,746
Allstate Life	15,051		14,771
Allstate Benefits	2,905		2,915
Allstate Annuities	27,080		26,914
Corporate and Other	5,603		2,361
Consolidated	$	125,987	$	119,950


Investments
Property-Liability	$	50,134	$	48,414
Protection Services	1,822		1,544
Allstate Life	12,406		11,914
Allstate Benefits	2,012		1,941
Allstate Annuities	22,291		22,221
Corporate and Other	5,572		2,328
Consolidated	$	94,237	$	88,362

Deferred policy acquisition costs
Property-Liability	$	1,608	$	1,624
Protection Services	1,696		1,448
Allstate Life	909		1,079
Allstate Benefits	470		527
Allstate Annuities	17		21
Consolidated	$	4,700	$	4,699

(1)The balances reflect the elimination of related party investments between segments.