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) October 31, 2012

The Allstate Corporation

(Exact name of registrant as specified in charter)

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 (see General Instruction A.2.below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2. – Financial Information

Item 2.02.       Results of Operations and Financial Condition.

On October 31, 2012, the registrant issued a press release announcing its financial results for the third quarter of 2012, and the availability of the registrant’s third quarter investor supplement on the registrant’s web site.  The press release and the investor supplement are furnished as Exhibits 99.1 and 99.2 to this report.  The information contained in the press release and the investor supplement are 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

99.1                                                Registrant’s press release dated October 31, 2012

99.2                                                Third quarter 2012 Investor Supplement of The Allstate Corporation

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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.

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Exhibit 99.1

FOR IMMEDIATE RELEASE

Allstate Reports Strong Third Quarter 2012 Earnings

NORTHBROOK, Ill., October 31, 2012 – The Allstate Corporation (NYSE: ALL) today reported financial results for the third quarter of 2012:

NM = not meaningful

*               Measures used in this release that are not based on accounting principles generally accepted in the United States of America (“non-GAAP”) are defined and reconciled to the most directly comparable GAAP measure in the “Definitions of Non-GAAP Measures” section of this document.

“We are on pace to achieve our 2012 operating priorities which resulted in strong financial performance in the third quarter with net income of $723 million.  Our strategy of serving four distinct customer segments is also working as the Esurance and Encompass brands increased policies in force,” said Thomas J. Wilson, chairman, president and chief executive officer of The Allstate Corporation.  “We improved underlying margins in both auto and homeowners insurance and benefited from lower catastrophe losses while growing overall written premiums. In particular, Allstate brand homeowners, Emerging Businesses, Encompass and Esurance continued their favorable premium growth trend, partially offset by a decline in standard auto insurance sold through Allstate agencies, reflecting the actions to improve homeowners’ returns.

“Allstate Financial’s profit declined due to expected reductions in the annuity business and lower investment margins.  The strategy of focusing on underwritten products is working as sales increased through Allstate agencies and Allstate Benefits.  Investment total returns continued to be strong this quarter.  Effective execution of our strategy resulted in a book value increase of 22.4% year-over-year to $42.64 per diluted share.  Through September, shareholder returns from stock price appreciation and dividends totaled 47.3%.”

Consolidated Results

Net income for the quarter was $723 million, or $1.48 per diluted share, compared to $175 million, or $0.34 per diluted share in the third quarter of 2011.  An increase of $637 million in operating income was the primary driver of the net income improvement.  For the quarter, operating income was $717 million, or $1.46 per diluted share versus $80 million, or $0.16 per diluted share in last year’s third quarter.  The increase in operating income was due to lower catastrophe losses and an improvement in the underlying combined ratio for property-liability.  Return on equity for the trailing twelve months was 13.6% on a net income basis and 15.0%* on an operating income basis.

Property-Liability Premium Grew and Profitability Remained Strong

Third quarter results reflected Allstate’s commitment to maintaining auto margins while improving homeowners returns.  The total property-liability combined ratio was 90.2, an improvement of 14.6 points from third quarter 2011.  The underlying combined ratio was 87.8, an improvement of 1.4 points from the prior year quarter and below our annual outlook range of 88 to 91, reflecting favorable margins in the Allstate and Encompass brands.  The underlying margin in Esurance declined from second quarter.  Catastrophe losses in the third quarter 2012 were $206 million versus $1.1 billion in third quarter 2011.

The combined ratio for Allstate brand standard auto was 91.9, an improvement of 2.2 points from the prior year quarter.  The underlying combined ratio improved to 93.7 from 94.4 in the same quarter a year ago as the positive effect of rate actions combined with a relatively flat loss cost trend.  Allstate brand homeowners combined ratio was 72.9, a significant improvement from the prior year quarter’s 131.9.  The underlying combined ratio was 66.2, an improvement of 7.1 points from third quarter 2011, reflecting positive contributions from rate increases and the impact of favorable weather on loss cost trends.

In the third quarter, Allstate continued to make progress on its priority to grow premiums.  Total property-liability premiums written of $7.1 billion grew 5% from last year’s third quarter primarily due to the acquisition of Esurance in October 2011.  In addition, growth in Allstate brand homeowners, Emerging Businesses and Encompass contributed to this positive result, partially offset by a decline in Allstate brand standard auto.  In total, policies in force declined 0.3% from the prior quarter as decreases in U.S. Allstate brand standard auto and homeowners were offset somewhat by a 7.8% increase in Esurance.  Unit gains were also achieved in Canada, Encompass and Emerging Businesses.

Allstate Financial Profits Decline; Growth in Premiums and Contract Charges Continues

Net income for Allstate Financial was $131 million compared to $192 million in third quarter 2011 due primarily to net after-tax realized capital losses of $36 million versus $142 million in net after-tax realized capital gains in third quarter 2011.  Valuation changes on derivatives embedded in equity-indexed annuity contracts resulted in a $75 million after-tax gain in third quarter 2012 compared to $5 million after-tax loss in third quarter 2011.  Operating income was $97 million, a decrease of $32 million from the prior year quarter.  During the quarter, a $27 million pre-tax charge to net income was recorded related to our annual comprehensive review of assumptions for deferred policy acquisition costs (DAC), deferred sales inducement costs and secondary guarantee liability balances.  This compares to a $6 million pre-tax charge to income in first quarter 2011.

Premiums and contract charges on underwritten products was $548 million in the third quarter, a growth rate of 3.6% from the prior year period.  Allstate agency life unit sales continued to increase in the third quarter with issued policies growing 6.9% compared to third quarter 2011.  Consistent with the strategy to reduce Allstate Financial’s annuity business, contractholder funds declined $722 million from June 30, 2012 and $2.2 billion from year end 2011.

Proactive Management Continues to Drive Investment Results

Allstate delivered strong investment results for the first nine months of 2012 reflecting proactive management of investment risk and return.  We remain focused on balancing yield and return considerations in the low interest rate environment, and continue to favor intermediate corporate credit. In the third quarter, we opportunistically reduced portfolio risk through the sale of selected structured securities.

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Allstate’s consolidated investment portfolio increased to $98.5 billion at September 30, 2012 compared to $95.6 billion at December 31, 2011, as solid investment returns and operating cash flow more than offset the impact of the managed reduction in Allstate Financial’s liabilities.  Pre-tax net unrealized capital gains were $5.7 billion at September 30, 2012 compared to $2.9 billion at December 31, 2011 resulting from lower interest rates, tightened credit spreads and higher equity values.

For the third quarter of 2012, net investment income totaled $940 million and the total portfolio yield was 4.3%, lower than both the prior quarter and the third quarter of 2011.  Excluding limited partnership results, third quarter 2012 net investment income was comparable to the prior quarter but lower than third quarter 2011, consistent with the reduction in Allstate Financial’s liabilities and lower reinvestment rates.

Pre-tax net realized capital losses for the third quarter of 2012 were $72 million compared to pre-tax net realized capital gains of $264 million for the third quarter of 2011.  Realized capital losses in the third quarter of 2012 reflect the sale of structured securities in connection with risk reduction activities but included significantly lower impairment write-downs than last year’s third quarter.  Derivative losses totaled $2 million in third quarter 2012 compared to losses of $234 million in third quarter 2011.  The prior year quarter reflected interest rate derivative valuation losses driven by a significant decrease in interest rates.  Interest rate derivative positions used for overall risk management purposes were terminated in 2011.

Capital Management Update

“In the third quarter, we repurchased $153 million of our shares and paid a $0.22 per share dividend,” said Steve Shebik, chief financial officer.  “Shares repurchased under the current $1 billion authorization totaled $834 million.  This program, along with earnings and portfolio valuation growth, enabled book value per diluted share to reach $42.64, 7.3% higher than it was at the end of last quarter, 17.9% higher than at year-end 2011, and 22.4% higher than at September 30, 2011.”

Statutory surplus at September 30, 2012 was an estimated $17.0 billion for the combined insurance operating companies.  Property-liability surplus was an estimated $13.3 billion with Allstate Financial companies accounting for the remainder.  Deployable assets at the holding company level were $2.3 billion at September 30, 2012.

*     *     *     *

Visit www.allstateinvestors.com to view additional information about Allstate’s results, including a webcast of its quarterly conference call and the presentation discussed on the call.  The conference call will be held at 9 a.m. ET on Thursday, November 1.

The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment.  Allstate branded insurance products (auto, home, life and retirement) and services are offered through Allstate agencies, independent agencies, and Allstate exclusive financial representatives, as well as via www.allstate.com and 1-800 Allstate®, and are widely known through the slogan “You’re In Good Hands With Allstate®.”

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THE ALLSTATE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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THE ALLSTATE CORPORATION

SEGMENT RESULTS

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THE ALLSTATE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

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THE ALLSTATE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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Definitions of Non-GAAP Measures

We believe that investors’ understanding of Allstate’s performance is enhanced by our disclosure of the following non-GAAP measures.  Our methods for calculating these measures may differ from those used by other companies and therefore comparability may be limited.

Operating income (loss) is net income (loss), excluding:

Net income (loss) is the GAAP measure that is most directly comparable to operating income (loss).

We use operating income (loss) as an important measure to evaluate our results of operations.  We believe that the measure provides investors with a valuable measure of the company’s ongoing performance because it reveals trends in our insurance and financial services business that may be obscured by the net effect of realized capital gains and losses, valuation changes on embedded derivatives that are not hedged, business combination expenses and the amortization of purchased intangible assets, gain (loss) on disposition of operations and adjustments for other significant non-recurring, infrequent or unusual items.  Realized capital gains and losses, valuation changes on embedded derivatives that are not hedged and gain (loss) on disposition of operations may vary significantly between periods and are generally driven by business decisions and external economic developments such as capital market conditions, the timing of which is unrelated to the insurance underwriting process.  Consistent with our intent to protect results or earn additional income, operating income (loss) includes periodic settlements and accruals on certain derivative instruments that are reported in realized capital gains and losses because they do not qualify for hedge accounting or are not designated as hedges for accounting purposes.  These instruments are used for economic hedges and to replicate fixed income securities, and by including them in operating income (loss), we are appropriately reflecting their trends in our performance and in a manner consistent with the economically hedged investments, product attributes (e.g. net investment income and interest credited to contractholder funds) or replicated investments.  Business combination expenses are excluded because they are non-recurring in nature and the amortization of purchased intangible assets is excluded because it relates to the acquisition purchase price and is not indicative of our underlying insurance business results or trends.  Non-recurring items are excluded because, by their nature, they are not indicative of our business or economic trends.  Accordingly, operating income (loss) excludes the effect of items that tend to be highly variable from period to period and highlights the results from ongoing operations and the underlying profitability of our business.  A byproduct of excluding these items to determine operating income (loss) is the transparency and understanding of their significance to net income variability and profitability while recognizing these or similar items may recur in subsequent periods.  Operating income (loss) is used by management along with the other components of net income (loss) to assess our performance.  We use adjusted measures of operating income (loss) and operating income (loss) per diluted share in incentive compensation.  Therefore, we believe it is useful for investors to evaluate net income (loss), operating income (loss) and their components separately and in the aggregate when reviewing and evaluating our performance.  We note that investors, financial analysts, financial and business media organizations and rating agencies utilize operating income (loss) results in their evaluation of our and our industry’s financial performance and in their investment decisions, recommendations and communications as it represents a reliable, representative and consistent measurement of the industry and the company and management’s performance.  We note that the price to earnings multiple commonly used by insurance investors as a forward-looking valuation technique uses operating income (loss) as the denominator.  Operating income (loss) should not be considered as a substitute for net income (loss) and does not reflect the overall profitability of our business.

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The following tables reconcile operating income (loss) and net income (loss).