Allstate Corp

ALL: XNYS (USA)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
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Allstate Earnings: Dual Tailwinds Drive Strong Performance

Conditions in the property-casualty insurance industry are close to ideal at the moment, as price increases are boosting the underwriting side and higher interest rates are lifting investment results. Much of our domestic P&C coverage is generating outsize returns, and Allstate is no exception. Its return on equity for the full year was 26%, well above our long-term expectations for the no-moat company.

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