The Allstate Corporation (ALL) Q1 2023 Earnings Call Transcript

The Allstate Corporation (NYSE:ALL) Q1 2023 Earnings Conference Call May 4, 2023 9:00 AM ET

Company Participants

Mark Nogal - Head of IR

Tom Wilson - Chairman, President and CEO

Mario Rizzo - President, Property-Liability

Jess Merten - EVP and CFO

John Dugenske - President, Investments

Conference Call Participants

Gregory Peters - Raymond James

Paul Newsome - Piper Sandler

Elyse Greenspan - Wells Fargo

Yaron Kinar - Jefferies

Andrew Kligerman - Credit Suisse

Josh Shanker - Bank of America

Brian Meredith - UBS

Operator

Thank you for standing by, and welcome to Allstate's First Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, today's program is being recorded.

And now, I'd like to introduce your host for today's program, Mr. Mark Nogal, Head of Investor Relations. Please go ahead, sir.

Mark Nogal

Thank you, Jonathan. Good morning. Welcome to Allstate's first quarter 2023 earnings conference call. After prepared remarks, we'll have a question-and-answer session. Yesterday, following the close of the market, we issued our news release and investor supplement, filed our 10-Q and posted related material on our website at allstateinvestors.com. Our management team is here to provide perspective on these results.

As noted on the first slide of the presentation, our discussion will contain non-GAAP measures for which there are reconciliations in the news release and investor supplement, and forward-looking statements about Allstate's operations. Allstate's results may differ materially from these statements, so please refer to our 10-K for 2022 and other public documents for information on potential risks.

As some of you know, this will be my final earnings call as the leader of our Investor Relations team, and I will be transitioning to a new role in our P&C finance area supporting National General. I'm leaving Investor Relations in the capable hands of Brent Vandermause, who will be a great partner for all of you going forward.

And now, I'll turn it over to Tom.

Tom Wilson

Good morning.

We're excited for Mark, and we're completely confident that Brent is going to give you everything you need to help you decide how and why you want to invest in Allstate. So good morning. We appreciate the investment of your time in Allstate today. Let's start with an overview results, and then Mario and Jess are going to walk through the operating results and the actions that we're taking to increase shareholder value.