Spreadsheet: 07296c68-386c-439e-ae6d-c17a93d8cce3
Sheet: 25

THE ALLSTATE CORPORATION
AUTO PROFITABILITY MEASURES
 |  |  | Three months ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Twelve months ended
 |  |  |  | Dec. 31, |  |  | Sept. 30, |  |  | June 30, |  |  | March 31, |  |  | Dec. 31, |  |  | Sept. 30, |  |  | June 30, |  |  | March 31, |  |  | Dec. 31, |  |  | Dec. 31,
($ in millions) |  |  |  | 2012 |  |  | 2012 |  |  | 2012 |  |  | 2012 |  |  | 2011 |  |  | 2011 |  |  | 2011 |  |  | 2011 |  |  | 2012 |  |  | 2011
 | Net premiums written
 |  | Allstate brand | $ | 4031 |  | $ | 4164 |  | $ | 4077 |  | $ | 4126 |  | $ | 3986 |  | $ | 4190 |  | $ | 4108 |  | $ | 4194 |  | $ | 16398 |  | $ | 16478
 |  | Encompass brand |  | 153 |  |  | 163 |  |  | 160 |  |  | 142 |  |  | 147 |  |  | 159 |  |  | 154 |  |  | 145 |  |  | 618 |  |  | 605
 |  | Esurance brand |  | 256 |  |  | 282 |  |  | 224 |  |  | 262 |  |  | 181 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 1024 |  |  | 181
 |  |  |  | 4440 |  |  | 4609 |  |  | 4461 |  |  | 4530 |  |  | 4314 |  |  | 4349 |  |  | 4262 |  |  | 4339 |  |  | 18040 |  |  | 17264
 | Net premiums earned
 |  | Allstate brand | $ | 4092 |  | $ | 4087 |  | $ | 4093 |  | $ | 4080 |  | $ | 4083 |  | $ | 4112 |  | $ | 4143 |  | $ | 4138 |  | $ | 16352 |  | $ | 16476
 |  | Encompass brand |  | 153 |  |  | 152 |  |  | 153 |  |  | 151 |  |  | 151 |  |  | 154 |  |  | 156 |  |  | 161 |  |  | 609 |  |  | 622
 |  | Esurance brand |  | 264 |  |  | 248 |  |  | 234 |  |  | 221 |  |  | 201 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 967 |  |  | 201
 |  |  |  | 4509 |  |  | 4487 |  |  | 4480 |  |  | 4452 |  |  | 4435 |  |  | 4266 |  |  | 4299 |  |  | 4299 |  |  | 17928 |  |  | 17299
 | Incurred losses
 |  | Allstate brand | $ | 3092 |  | $ | 2720 |  | $ | 2846 |  | $ | 2836 |  | $ | 2823 |  | $ | 2824 |  | $ | 3024 |  | $ | 2896 |  | $ | 11494 |  | $ | 11567
 |  | Encompass brand |  | 116 |  |  | 119 |  |  | 125 |  |  | 118 |  |  | 129 |  |  | 136 |  |  | 123 |  |  | 122 |  |  | 478 |  |  | 510
 |  | Esurance brand |  | 215 |  |  | 192 |  |  | 178 |  |  | 161 |  |  | 157 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 746 |  |  | 157
 |  |  |  | 3423 |  |  | 3031 |  |  | 3149 |  |  | 3115 |  |  | 3109 |  |  | 2960 |  |  | 3147 |  |  | 3018 |  |  | 12718 |  |  | 12234
 | Expenses
 |  | Allstate brand | $ | 1046 |  | $ | 1020 |  | $ | 1042 |  | $ | 1042 |  | $ | 1057 |  | $ | 1021 |  | $ | 1036 |  | $ | 1021 |  | $ | 4150 |  | $ | 4135
 |  | Encompass brand |  | 48 |  |  | 45 |  |  | 42 |  |  | 43 |  |  | 44 |  |  | 45 |  |  | 44 |  |  | 46 |  |  | 178 |  |  | 179
 |  | Esurance brand |  | 95 |  |  | 102 |  |  | 95 |  |  | 121 |  |  | 88 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 413 |  |  | 88
 |  |  |  | 1189 |  |  | 1167 |  |  | 1179 |  |  | 1206 |  |  | 1189 |  |  | 1066 |  |  | 1080 |  |  | 1067 |  |  | 4741 |  |  | 4402
 | Underwriting income
 |  | Allstate brand | $ | -46 |  | $ | 347 |  | $ | 205 |  | $ | 202 |  | $ | 203 |  | $ | 267 |  | $ | 83 |  | $ | 221 |  | $ | 708 |  | $ | 774
 |  | Encompass brand |  | -11 |  |  | -12 |  |  | -14 |  |  | -10 |  |  | -22 |  |  | -27 |  |  | -11 |  |  | -7 |  |  | -47 |  |  | -67
 |  | Esurance brand |  | -46 |  |  | -46 |  |  | -39 |  |  | -61 |  |  | -44 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | -192 |  |  | -44
 |  |  |  | -103 |  |  | 289 |  |  | 152 |  |  | 131 |  |  | 137 |  |  | 240 |  |  | 72 |  |  | 214 |  |  | 469 |  |  | 663
 | Loss ratio
 |  | Allstate brand |  | 75.56207233626589 |  |  | 66.45248348421825 |  |  | 69.53334962130467 |  |  | 69.50980392156862 |  |  | 69.14033798677444 |  |  | 68.67704280155642 |  |  | 72.99058653149892 |  |  | 69.98550024166263 |  |  | 70.29109589041096 |  |  | 70.20514688031075
 |  | Encompass brand |  | 75.81699346405229 |  |  | 78.28947368421053 |  |  | 81.69934640522875 |  |  | 78.1456953642384 |  |  | 85.43046357615894 |  |  | 88.31168831168831 |  |  | 78.94615384615383 |  |  | 75.77639751552795 |  |  | 78.48932676518884 |  |  | 81.9935691318328
 |  | Esurance brand |  | 81.43939393939394 |  |  | 77.41935483870968 |  |  | 76.06837606837607 |  |  | 72.75067873303168 |  |  | 78.1094527363184 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 77.24581178903826 |  |  | 78.1094527363184
 |  | Allstate Protection |  | 75.9148369926813 |  |  | 67.55070202808112 |  |  | 70.29017857142857 |  |  | 69.9685534591195 |  |  | 70.10146561443067 |  |  | 69.38584153774026 |  |  | 73.20307048150732 |  |  | 70.20237264480112 |  |  | 70.93931280678268 |  |  | 70.72085091623794
 | Expense ratio
 |  | Allstate brand |  | 25.46207233626588 |  |  | 24.95718130658184 |  |  | 25.45809919374542 |  |  | 25.53921568627451 |  |  | 25.88782757776145 |  |  | 24.82976653696498 |  |  | 25.00603427468018 |  |  | 24.67375543740938 |  |  | 25.37915851272016 |  |  | 25.10318038358825
 |  | Encompass brand |  | 31.37254901960784 |  |  | 29.60526315789473 |  |  | 27.45098039215686 |  |  | 28.47682119205298 |  |  | 29.23907284768212 |  |  | 29.22077922077922 |  |  | 28.2051282051282 |  |  | 28.47142857142857 |  |  | 29.22824302134647 |  |  | 28.77813504823151
 |  | Esurance brand |  | 35.98484848484848 |  |  | 41.12903225806452 |  |  | 40.5982905982906 |  |  | 54.75113122171946 |  |  | 43.78109452736319 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 42.70941054808686 |  |  | 43.78109452736319
 |  | Allstate Protection |  | 26.3694832557108 |  |  | 26.00846891018498 |  |  | 26.31696428571428 |  |  | 27.08894878706199 |  |  | 26.80947012401353 |  |  | 24.98827941865916 |  |  | 25.12212142358688 |  |  | 24.81972551756223 |  |  | 26.54466755912539 |  |  | 25.54655760448581
 | Combined ratio
 |  | Allstate brand |  | 101.1241446725318 |  |  | 91.50966479080009 |  |  | 94.99144881505008 |  |  | 95.04901960784314 |  |  | 95.02816556453588 |  |  | 93.5068093385214 |  |  | 97.9966208061791 |  |  | 94.65925567907202 |  |  | 95.67025440313111 |  |  | 95.30225782957028
 |  | Encompass brand |  | 107.1895424836601 |  |  | 107.8947368421053 |  |  | 109.1503267973856 |  |  | 106.6225165562914 |  |  | 114.5695364238411 |  |  | 117.5324675324675 |  |  | 107.051282051282 |  |  | 104.3478260869565 |  |  | 107.7175697865353 |  |  | 110.7717041800643
 |  | Esurance brand |  | 117.4242424242424 |  |  | 118.5483870967742 |  |  | 116.6666666666667 |  |  | 127.6018099547511 |  |  | 121.8905472636816 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 119.8552223371251 |  |  | 121.8905472636816
 |  | Allstate Protection |  | 102.2843202483921 |  |  | 93.5591709382661 |  |  | 96.60714285714286 |  |  | 97.0575022461815 |  |  | 96.9109357384442 |  |  | 94.37412095639944 |  |  | 98.32519190509421 |  |  | 95.02209816236335 |  |  | 97.38398036590807 |  |  | 96.16740852072374
 | Effect of catastrophe losses on combined ratio
 |  | Allstate brand |  | 8.9 |  |  | 1.2 |  |  | 3.8 |  |  | 1.176470588235294 |  |  | 0.1959343619887338 |  |  | 2.748054474708171 |  |  | 6.565290852039585 |  |  | 0.4 |  |  | 3.8 |  |  | 2.5
 |  | Encompass brand |  | 9.8 |  |  | 1.3 |  |  | 2.6 |  |  | 0.6622516556291391 |  |  | 0.6622516556291391 |  |  | 3.246753246753246 |  |  | 3.205128205128205 |  |  | 0 |  |  | 3.6 |  |  | 1.8
 |  | Esurance brand |  | 2.3 |  |  | 0.8 |  |  | 2.6 |  |  | 0.3524886877828055 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 1.6 |  |  | 0
 | Effect of prior year reserve reestimates on combined ratio
 |  | Allstate brand |  | -1.9 |  |  | -3.3 |  |  | -2 |  |  | -1.200980392156863 |  |  | -3.3 |  |  | -3.550583657587548 |  |  | -2.1 |  |  | -0.6 |  |  | -2.1 |  |  | -2.4
 |  | Encompass brand |  | -15 |  |  | -0.7 |  |  | -0.7 |  |  | 0.6622516556291391 |  |  | 0 |  |  | 6.493506493506493 |  |  | -0.6 |  |  | 3.1 |  |  | -3.9 |  |  | 2.3
 |  | Esurance brand |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0
 | Effect of business combination expenses and the amortization
 |  | of purchased intangible assets on combined ratio
 |  | Esurance brand |  | 7.2 |  |  | 8.1 |  |  | 8.1 |  |  | 18.09954751131222 |  |  | 20.9 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 10.1 |  |  | 20.9