UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): January 16, 2020
THE ALLSTATE CORP ORATION
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (847 ) 402-5000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbols | Name of each exchange on which registered |
Common Stock, par value $0.01 per share | ALL | New York Stock Exchange Chicago Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company | |||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ____
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Section 7 – Regulation FD
Item 7.01. Regulation FD Disclosure.
The Registrant’s press release dated January 16, 2020, announcing its estimated catastrophe losses for December and fourth quarter 2019 as well as fourth quarter charges, is attached hereto as Exhibit 99 and is incorporated herein by reference. The press release is furnished and not filed, pursuant to Instruction B.2 of Form 8-K.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Description | |
99 | ||
104 | Cover Page Interactive Data File (formatted as inline XBRL). | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE ALLSTATE CORPORATION | ||||
(Registrant) | ||||
By: | /s/ Daniel G. Gordon | |||
Name: | Daniel G. Gordon | |||
Title: | Vice President, Assistant General | |||
Counsel and Assistant Secretary | ||||
Date: | January 16, 2020 | |||
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Exhibit 99
NEWS
FOR IMMEDIATE RELEASE
Contacts:
Greg Burns Mark Nogal
Media Relations Investor Relations
(847) 402-5600 (847) 402-2800
Allstate Announces December 2019 Catastrophe Losses and Fourth Quarter Charges
NORTHBROOK, Ill., January 16, 2020 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of December of $25 million, pre-tax ($20 million, after-tax), bringing estimated catastrophe losses for the fourth quarter 2019 to $295 million, pre-tax ($233 million, after-tax).
Estimated fourth quarter 2019 charges
In December, we announced a Transformative Growth Plan, which included a decision to phase out the use of the Esurance brand trade name. This decision resulted in a $51 million, pre-tax charge ($40 million, after-tax) for impairment of the Esurance trade name intangible asset from the 2011 acquisition. This amount will reduce net income but will be excluded from adjusted net income.
We previously disclosed that we will recognize a charge of $37 million for original issuance costs as a result of the redemption of fixed rate noncumulative perpetual preferred stock on October 15, 2019, which will be included in preferred stock dividends, and reflected in both net income and adjusted net income.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.
Forward-Looking Statements
This news release contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like “plans,” “seeks,” “expects,” “will,” “should,” “anticipates,” “estimates,” “intends,” “believes,” “likely,” “targets” and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.
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