The Allstate Management Discusses Q2 2012 Results - Earnings Call Transcript

Yesterday afternoon, we issued our press release and investor supplement as well as our 10-Q for the second quarter. We also posted a slide presentation to be used in conjunction with our prepared remarks. These are all available on our website.

Referring to the first slide of the presentation, this discussion may contain forward-looking statements regarding Allstate's operations. Actual results may differ materially from these statements, so please refer to our 10-K for 2011, our 10-Q for the second quarter 2012 and our most recent press release for information on potential risks. This discussion will contain some non-GAAP measures, for which there are reconciliations in our press release and on our website. I will be available after this call to answer any follow-up questions you may have.

Now, we can begin the discussion of our results with Tom Wilson. Tom?

Thomas J. Wilson

Well, good morning. Thanks for your interest in Allstate. My remarks will focus on our performance relative to our 2012 priorities within the context of our consumer purpose strategy, and then Bob and Steve will cover their quarter's results in greater detail.

So let's begin on the top of Slide 2. As you know our strategy is to provide unique protection products to each of the 4 consumer segments in the marketplace. The Allstate brand, which is in the lower left serves those customers that want local advice and assistance and prefer to purchase competitively differentiated brand of products. In this business, we're successful in introducing new differentiated products such as our Claim Satisfaction Guarantee, Good Hands Roadside, and House & Home, our support of Allstate agencies and marketing programs continue to be expanded with good results, premiums written though were flat for the Allstate brand as our efforts to raise returns in homeowners, negatively impacts retention of home owners, and we have lower new business sales of auto insurance. We did increase the emerging businesses and Allstate Financial products sold through Allstate agencies.

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