Send us Feedback

Allstate (ALL)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

ALL » Topics » ALLSTATE FINANCIAL 2007 HIGHLIGHTS

These excerpts taken from the ALL 10-K filed Feb 27, 2008.

ALLSTATE FINANCIAL 2007 HIGHLIGHTS

    •
    Net income was $465 million in 2007 compared to $464 million in 2006.

    •
    Contractholder fund deposits totaled $8.99 billion for 2007 compared to $10.48 billion for 2006.

    •
    Net investment income increased 3.0% in 2007 compared to 2006 despite a 2.2% decrease in investments as of December 31, 2007 compared to December 31, 2006.

    •
    Allstate Financial paid dividends of $742 million in 2007. These dividends include $725 million paid by Allstate Life Insurance Company ("ALIC") to its parent AIC.

    •
    Effective June 1, 2006, Allstate Financial disposed of substantially all of its variable annuity business through reinsurance with Prudential Financial Inc. ("Prudential"). Additionally, Allstate Financial transferred its loan protection business to the Allstate Protection segment effective January 1, 2006. The following table presents the results of operations attributable to our reinsured variable annuity business for the period of 2006 prior to the disposition and 2005. Additionally, 2005 also includes the results of operations of the loan protection business transferred to Allstate Protection in 2006.

(in millions)

   2006
   2005
  
Life and annuity premiums and contract charges   $ 136   $ 416  
Net investment income     17     51  
Realized capital gains and losses     (8 )   (7 )
   
 
 
  Total revenues     145     460  

Life and annuity contract benefits
 
 
(13
)
 
(148
)
Interest credited to contractholder funds     (24 )   (63 )
Amortization of deferred policy acquisition costs     (44 )   (47 )
Operating costs and expenses     (43 )   (163 )
   
 
 
  Total costs and expenses     (124 )   (421 )

Loss on disposition of operations
 
 
(89
)
 
—
 
   
 
 

Income from operations before income tax expense(1)
 
$
(68
)
$
39
 
   
 
 
(1)
For 2006, income from operations before income tax expense attributable to the variable annuity business reinsured to Prudential included an investment spread and benefit spread of $(7) million and $13 million, respectively. For 2005, income from operations before income tax expense attributable to the variable annuity business reinsured to Prudential and the loan protection business transferred to Allstate Protection included an investment spread and benefit spread of $(12) million and $5 million, respectively.

85

ALLSTATE FINANCIAL 2007 HIGHLIGHTS





    •
    Net
    income was $465 million in 2007 compared to $464 million in 2006.


    •
    Contractholder
    fund deposits totaled $8.99 billion for 2007 compared to $10.48 billion for 2006.


    •
    Net
    investment income increased 3.0% in 2007 compared to 2006 despite a 2.2% decrease in investments as of December 31, 2007 compared to December 31, 2006.


    •
    Allstate
    Financial paid dividends of $742 million in 2007. These dividends include $725 million paid by Allstate Life Insurance Company ("ALIC") to its parent
    AIC.


    •
    Effective
    June 1, 2006, Allstate Financial disposed of substantially all of its variable annuity business through reinsurance with Prudential Financial Inc.
    ("Prudential"). Additionally, Allstate Financial transferred its loan protection business to the Allstate Protection segment effective January 1, 2006. The following table presents the results
    of operations attributable to our reinsured variable annuity business for the period of 2006 prior to the disposition and 2005. Additionally, 2005 also includes the results of operations of the loan
    protection business transferred to Allstate Protection in 2006.































































































































































(in millions)

 2006
 2005
 
Life and annuity premiums and contract charges $136 $416 
Net investment income  17  51 
Realized capital gains and losses  (8) (7)
  
 
 
 Total revenues  145  460 


Life and annuity contract benefits
 
 

(13
)
 

(148
)
Interest credited to contractholder funds  (24) (63)
Amortization of deferred policy acquisition costs  (44) (47)
Operating costs and expenses  (43) (163)
  
 
 
 Total costs and expenses  (124) (421)


Loss on disposition of operations
 
 

(89
)
 

—
 
  
 
 


Income from operations before income tax expense(1)
 
$

(68
)
$

39
 
  
 
 





(1)
For
2006, income from operations before income tax expense attributable to the variable annuity business reinsured to Prudential included an investment spread and benefit spread of
$(7) million and $13 million, respectively. For 2005, income from operations before income tax expense attributable to the variable annuity business reinsured to Prudential and the loan
protection business transferred to Allstate Protection included an investment spread and benefit spread of $(12) million and $5 million, respectively.

85








EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 27, 2008

RELATED TOPICS for ALL:

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki