0000899051-23-000020 | 10-K | XBRL Viewer

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Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2022	Jan. 31, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-11840
Entity Registrant Name	ALLSTATE CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3871531
Entity Address, Address Line One	3100 Sanders Road
Entity Address, City or Town	Northbrook
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60062
City Area Code	847
Local Phone Number	402-5000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 33,850
Entity Common Stock, Shares Outstanding		263,329,700
Documents Incorporated by Reference	Documents Incorporated By Reference Portions of the following documents are incorporated herein by reference as follows: Part III of this Form 10-K incorporates by reference certain information from the registrant’s definitive proxy statement for its annual stockholders meeting to be held on May 23, 2023, (the “Proxy Statement”) to be filed not later than 120 days after the end of the fiscal year covered by this Form 10-K.
Entity Central Index Key	0000899051
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Common stock par value \| CHICAGO STOCK EXCHANGE, INC
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ALL
Security Exchange Name	CHX
Common stock par value \| NEW YORK STOCK EXCHANGE, INC.
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ALL
Security Exchange Name	NYSE
5.100% Fixed-to-Floating Rate Subordinated Debentures due 2053 \| NEW YORK STOCK EXCHANGE, INC.
Document Information [Line Items]
Title of 12(b) Security	5.100% Fixed-to-Floating Rate Subordinated Debentures due 2053
Trading Symbol	ALL.PR.B
Security Exchange Name	NYSE
Series G Preferred Stock \| NEW YORK STOCK EXCHANGE, INC.
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares represent 1/1,000th of a share of 5.625% Noncumulative Preferred Stock, Series G
Trading Symbol	ALL PR G
Security Exchange Name	NYSE
Series H Preferred Stock \| NEW YORK STOCK EXCHANGE, INC.
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares represent 1/1,000th of a share of 5.100% Noncumulative Preferred Stock, Series H
Trading Symbol	ALL PR H
Security Exchange Name	NYSE
Series I Preferred Stock \| NEW YORK STOCK EXCHANGE, INC.
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares represent 1/1,000th of a share of 4.750% Noncumulative Preferred Stock, Series I
Trading Symbol	ALL PR I
Security Exchange Name	NYSE

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Chicago, Illinois
Auditor Firm ID	34

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Property and casualty insurance premiums (net of reinsurance ceded and indemnification programs of $1,869, $1,904 and $1,141)	$ 47,737	$ 44,039	$ 38,167
Other revenue	2,344	2,172	1,065
Net investment income	2,403	3,293	1,590
Net gains (losses) on investments and derivatives	(1,072)	1,084	1,087
Total revenues	51,412	50,588	41,909
Costs and expenses
Property and casualty insurance claims and claims expense (net of reinsurance ceded and indemnification programs of $1,600, $3,484 and $530)	37,264	29,318	22,001
Shelter-in-Place Payback expense	0	29	948
Accident, health and other policy benefits (net of reinsurance ceded of $28, $86 and $15)	1,061	1,049	549
Amortization of deferred policy acquisition costs	6,644	6,252	5,477
Operating costs and expenses	7,446	7,260	5,494
Pension and other postretirement remeasurement (gains) losses	116	(644)	(51)
Restructuring and related charges	51	170	253
Amortization of purchased intangibles	353	376	118
Interest expense	335	330	318
Total costs and expenses	53,270	44,140	35,107
(Loss) income from operations before income tax expense	(1,858)	6,448	6,802
Income tax (benefit) expense	(494)	1,289	1,373
Net (loss) income from continuing operations	(1,364)	5,159	5,429
(Loss) income from discontinued operations, net of tax	0	(3,593)	147
Net (loss) income	(1,364)	1,566	5,576
Less: Net loss attributable to noncontrolling interest	(53)	(33)	0
Net (loss) income attributable to Allstate	(1,311)	1,599	5,576
Less: Preferred stock dividends	105	114	115
Net (loss) income applicable to common shareholders ,Basic	(1,416)	1,485	5,461
Net (loss) income applicable to common shareholders , Dilluted	$ (1,416)	$ 1,485	$ 5,461
Basic
Continuing operations (in dollars per share)	$ (5.22)	$ 17.23	$ 17.06
Discontinued operations (in dollars per share)	0	(12.19)	0.47
Basic, Total (in dollars per share)	(5.22)	5.04	17.53
Diluted
Continuing operations (in dollars per share)	(5.22)	16.98	16.84
Discontinued operations (in dollars per share)	0	(12.02)	0.47
Diluted, Total (in dollars per share)	$ (5.22)	$ 4.96	$ 17.31
Weighted average common shares - Basic (in shares)	271.2	294.8	311.6
Weighted average common shares - Diluted (in shares)	271.2	299.1	315.5
Property and casualty insurance premiums
Revenues
Property and casualty insurance premiums (net of reinsurance ceded and indemnification programs of $1,869, $1,904 and $1,141)	$ 45,904	$ 42,218	$ 37,073
Accident and health insurance premiums and contract charges (net of reinsurance ceded of $38, $78 and $13)
Revenues
Property and casualty insurance premiums (net of reinsurance ceded and indemnification programs of $1,869, $1,904 and $1,141)	$ 1,833	$ 1,821	$ 1,094

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property-liability insurance premiums earned	$ 1,907	$ 1,982	$ 1,154
Property and casualty insurance claims and claims expense
Reinsurance ceded amount	1,600	3,484	530
Accident, health and other policy benefits
Reinsurance ceded amount	28	86	15
Property and casualty insurance premiums
Property-liability insurance premiums earned	1,869	1,904	1,141
Accident and health insurance premiums and contract charges
Life and annuity premiums and contract charges	$ 38	$ 78	$ 13

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (1,364)	$ 1,566	$ 5,576
Changes in:
Unrealized net capital gains and losses	(2,851)	(2,582)	1,293
Unrealized foreign currency translation adjustments	(150)	(8)	52
Unamortized pension and other postretirement prior service credit	(43)	(59)	9
Other comprehensive (loss) income, after-tax	(3,044)	(2,649)	1,354
Comprehensive (loss) income	(4,408)	(1,083)	6,930
Less: Comprehensive loss attributable to noncontrolling interest	(73)	(36)	0
Comprehensive (loss) income attributable to Allstate	$ (4,335)	$ (1,047)	$ 6,930

Consolidated Statements of Financial Position - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Investments
Fixed income securities, at fair value (amortized cost, net $45,370 and $41,376)	$ 42,485	$ 42,136
Equity securities, at fair value (cost $4,253 and $6,016)	4,567	7,061
Mortgage loans, net	762	821
Limited partnership interests	8,114	8,018
Short-term, at fair value (amortized cost $4,174 and $4,009)	4,173	4,009
Other investments, net	1,728	2,656
Total investments	61,829	64,701
Cash	736	763
Premium installment receivables, net	9,165	8,364
Deferred policy acquisition costs	5,418	4,722
Reinsurance and indemnification recoverables, net	9,606	10,024
Accrued investment income	423	339
Deferred income taxes	386	0
Property and equipment, net	987	939
Goodwill	3,502	3,502
Other assets, net	5,905	6,086
Total assets	97,957	99,440
Liabilities
Reserve for property and casualty insurance claims and claims expense	37,541	33,060
Reserve for future policy benefits	1,273	1,273
Contractholder funds	897	908
Unearned premiums	22,311	19,844
Claim payments outstanding	1,268	1,123
Deferred income taxes	0	833
Other liabilities and accrued expenses	9,353	9,296
Debt	7,964	7,976
Total liabilities	80,607	74,313
Commitments and Contingent Liabilities (Note 7, 9 and 15)
Shareholders’ equity
Preferred stock and additional capital paid-in, $1 par value, 25 million shares authorized, 81.0 thousand shares issued and outstanding, $2,025 aggregate liquidation preference	1,970	1,970
Common stock, $.01 par value, 2.0 billion shares authorized and 900 million issued, 263 million and 281 million shares outstanding	9	9
Additional capital paid-in	3,788	3,722
Retained income	50,954	53,294
Treasury stock, at cost (637 million and 619 million shares)	(36,857)	(34,471)
Accumulated other comprehensive income:
Unrealized net capital gains and losses	(2,253)	598
Unrealized foreign currency translation adjustments	(165)	(15)
Unamortized pension and other postretirement prior service credit	29	72
Total accumulated other comprehensive (loss) income	(2,389)	655
Total Allstate shareholders’ equity	17,475	25,179
Noncontrolling interest	(125)	(52)
Total equity	17,350	25,127
Total liabilities and equity	$ 97,957	$ 99,440

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Amortized cost, net	$ 45,370	$ 41,376
Equity securities, at fair value, cost	4,253	6,016
Amortized cost	$ 4,174	$ 4,009
Preferred stock, par or stated value per share (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	81,000	81,000
Preferred stock, shares outstanding (in shares)	81,000	81,000
Preferred Stock, liquidation preference	$ 2,025	$ 2,025
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares, issued (in shares)	900,000,000	900,000,000
Common stock, shares, outstanding (in shares)	263,000,000	281,000,000
Treasury stock, shares (in shares)	637,000,000	619,000,000

Consolidated Statements of Shareholders’ Equity - USD ($) $ in Millions	Total	Preferred stock par value	Preferred stock additional capital paid-in	Common stock par value	Common stock additional capital paid-in	Retained income	Retained income Cumulative effect of change in accounting principle	Treasury stock	Accumulated other comprehensive income (loss)	Noncontrolling interest
Increase (decrease) in equity [Roll forward]
Total equity			$ 2,248		$ 3,463	$ 48,074	$ (88)	$ (29,746)	$ 1,950	$ 0
Balance, beginning of year at Dec. 31, 2019			2,248		3,463	48,074	(88)	(29,746)	1,950	0
Increase (decrease) in equity [Roll forward]
Acquisition			0							0
Preferred stock redemption			(278)
Forward contract on accelerated share repurchase agreement					(38)
Equity incentive plans activity					73
Increase in net income	$ 5,576					5,576				0
Dividends on common stock (declared per share of $3.40, $3.24 and $2.16)						(680)
Dividends on preferred stock						(115)
Shares acquired								(1,700)
Shares reissued under equity incentive plans, net								115
Change in unrealized net capital gains and losses	1,293								1,293	0
Change in unrealized foreign currency translation adjustments	52								52
Change in unamortized pension and other postretirement prior service credit	9								9
Balance, end of year at Dec. 31, 2020	30,217	$ 0	1,970	$ 9	3,498	52,767	0	(31,331)	3,304	0
Increase (decrease) in equity [Roll forward]
Total Allstate shareholders’ equity	30,217
Total equity	30,217	0	1,970	9	3,498	52,767	0	(31,331)	3,304	0
Acquisition			450							(16)
Preferred stock redemption			(450)
Forward contract on accelerated share repurchase agreement					113
Equity incentive plans activity					111
Increase in net income	1,566					1,599				(33)
Dividends on common stock (declared per share of $3.40, $3.24 and $2.16)						(958)
Dividends on preferred stock						(114)
Shares acquired								(3,262)
Shares reissued under equity incentive plans, net								122
Change in unrealized net capital gains and losses	(2,582)								(2,582)	(3)
Change in unrealized foreign currency translation adjustments	(8)								(8)
Change in unamortized pension and other postretirement prior service credit	(59)								(59)
Balance, end of year at Dec. 31, 2021	25,127	0	1,970	9	3,722	53,294	0	(34,471)	655	(52)
Increase (decrease) in equity [Roll forward]
Total Allstate shareholders’ equity	25,179
Total equity	25,127	0	1,970	9	3,722	53,294	$ 0	(34,471)	655	(52)
Acquisition			0							0
Preferred stock redemption			0
Forward contract on accelerated share repurchase agreement					0
Equity incentive plans activity					66
Increase in net income	(1,364)					(1,311)				(53)
Dividends on common stock (declared per share of $3.40, $3.24 and $2.16)						(924)
Dividends on preferred stock						(105)
Shares acquired								(2,496)
Shares reissued under equity incentive plans, net								110
Change in unrealized net capital gains and losses	(2,851)								(2,851)	(20)
Change in unrealized foreign currency translation adjustments	(150)								(150)
Change in unamortized pension and other postretirement prior service credit	(43)								(43)
Balance, end of year at Dec. 31, 2022	17,350	0	1,970	9	3,788	50,954		(36,857)	(2,389)	(125)
Increase (decrease) in equity [Roll forward]
Total Allstate shareholders’ equity	17,475
Total equity	$ 17,350	$ 0	$ 1,970	$ 9	$ 3,788	$ 50,954		$ (36,857)	$ (2,389)	$ (125)

Consolidated Statements of Shareholders’ Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 3.40	$ 3.24	$ 2.16

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net (loss) income	$ (1,364)	$ 1,566	$ 5,576
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and other non-cash items	847	1,086	686
Net (gains) losses on investments and derivatives	1,072	(1,279)	(1,356)
Pension and other postretirement remeasurement (gains) losses	116	(644)	(51)
Amortization of deferred gain on reinsurance	0	(4)	(4)
Loss on disposition of operations, net of tax	0	4,031	0
Changes in:
Accident, health and other policy benefits	4,503	2,432	(44)
Unearned premiums	2,541	1,618	598
Deferred policy acquisition costs	(702)	(608)	(125)
Premium installment receivables, net	(1,038)	(498)	(3)
Reinsurance recoverables, net	408	(1,565)	(11)
Income taxes	(721)	349	(232)
Other operating assets and liabilities	(541)	(1,368)	457
Net cash provided by operating activities	5,121	5,116	5,491
Proceeds from sales
Fixed income securities	31,494	31,774	31,950
Equity securities	10,969	4,513	8,405
Limited partnership interests	970	886	1,350
Mortgage loans	0	0	230
Other investments	1,071	1,406	340
Investment collections
Fixed income securities	728	2,284	2,235
Mortgage loans	163	860	626
Other investments	167	550	209
Investment purchases
Fixed income securities	(36,920)	(33,857)	(38,121)
Equity securities	(9,294)	(6,409)	(4,648)
Limited partnership interests	(1,258)	(1,766)	(1,265)
Mortgage loans	(104)	(221)	(203)
Other investments	(295)	(1,647)	(371)
Change in short-term and other investments, net	792	4,017	(3,871)
Purchases of property and equipment, net	(420)	(345)	(308)
Proceeds from sale of property and equipment	209	0	0
Acquisition of operations, net of cash acquired	0	(3,593)	1
Proceeds from disposition of operations, net of cash transferred	0	2,058	0
Net cash (used in) provided by investing activities	(1,728)	510	(3,441)
Cash flows from financing activities
Proceeds from issuance of debt	0	0	1,189
Redemption and repayment of debt	0	(436)	0
Redemption of preferred stock	0	(450)	(288)
Contractholder fund deposits	133	826	991
Contractholder fund withdrawals	(49)	(1,140)	(1,494)
Dividends paid on common stock	(926)	(885)	(668)
Dividends paid on preferred stock	(105)	(114)	(108)
Treasury stock purchases	(2,520)	(3,120)	(1,737)
Shares reissued under equity incentive plans, net	82	114	63
Other	(35)	(35)	41
Net cash used in financing activities	(3,420)	(5,240)	(2,011)
Net (decrease) increase in cash, including cash classified as assets held for sale	(27)	386	39
Cash from continuing operations at beginning of period	763	311	273
Cash classified as assets held for sale at beginning of period	0	66	65
Less: Cash classified as assets held for sale at end of period	0	0	66
Cash from continuing operations at end of period	$ 736	$ 763	$ 311

General

12 Months Ended

Dec. 31, 2022

General

General


Note 1			General

Basis of presentation

The accompanying consolidated financial statements include the accounts of The Allstate Corporation (the “Corporation”) and its wholly owned subsidiaries, primarily Allstate Insurance Company (“AIC”), a property and casualty insurance company (collectively referred to as the “Company” or “Allstate”) and variable interest entities (“VIEs”) in which the Company is considered a primary beneficiary. These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany accounts and transactions have been eliminated. Certain amounts have been reclassified to conform to current year presentation.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

Nature of operations

Allstate is engaged, principally in the United States, in the property and casualty insurance business. Allstate is one of the country’s largest personal property and casualty insurers and is organized into five reportable segments: Allstate Protection, Run-off Property Liability, Protection Services, Allstate Health and Benefits, and Corporate and Other.

Allstate’s primary business is the sale of private passenger auto and homeowners insurance. The Company also offers several other personal property and casualty insurance products, select commercial property and casualty coverages, consumer product protection plans, device and mobile data collection services and analytic solutions using automotive telematics information, roadside assistance, finance and insurance products, employer voluntary benefits and group accident and health insurance and identity protection. Allstate primarily distributes its products through exclusive agents, financial specialists, independent agents and brokers, major retailers, contact centers and the internet.

Risks and uncertainties

Allstate has exposure to catastrophic events, including wind/hail, wildfires, tornadoes, hurricanes, tropical storms, earthquakes, severe freeze events, volcanic eruptions, terrorism and industrial accidents.

Catastrophes, an inherent risk of the property and casualty insurance business, have contributed, and will continue to contribute, to material year-to-year fluctuations in the Company’s results of operations and financial position (see Note 9). The nature and level of catastrophic loss experienced in any period cannot be predicted and could be material to results of operations and financial position.

The Company considers the following categories and locations to be the greatest areas of potential catastrophe losses:

•Wildfires — California, Colorado, Oregon, Texas and Arizona

•Hurricanes — Major metropolitan centers in counties along the eastern and gulf coasts of the United States

•Wind/Hail, Rain and Tornado — Texas, Illinois, Georgia and Colorado

•Earthquakes and fires following earthquakes —Major metropolitan areas near fault lines in the states of California, Oregon, Washington, South Carolina and Kentucky

The Novel Coronavirus Pandemic or COVID-19 (“Coronavirus”)

The Novel Coronavirus Pandemic or COVID-19 (“Coronavirus”) resulted in governments worldwide enacting emergency measures to combat the spread of the virus, including travel restrictions, government-imposed shelter-in-place orders, quarantine periods, social distancing, and restrictions on large gatherings. These measures have moderated significantly, but new variants of the Coronavirus could result in further economic volatility. The Company continues to closely monitor and proactively adapt to developments and changing conditions. Currently, it is not possible to reliably estimate the continuing impact to the Company’s operations, but the effects have been and could be material.

Certain growth and profitability comparisons to the prior year were impacted, in part, by the effects the Coronavirus had on prior year results. Throughout 2021 the Company experienced lower auto accident claim frequency and different claim patterns than historically experienced. Total auto claim frequency has since increased, but remains below pre-pandemic levels.

The Coronavirus has affected operations and may continue to significantly affect results of operations, financial condition and liquidity. The impact from the pandemic should be considered when comparing the current year to the prior years, including:

•Sales of new and retention of existing policies

•Rate changes and average gross premiums

•Supply chain disruptions and labor shortages impacts on the cost of settling claims

•Premium for transportation network products

•Driving behavior and auto accident frequency

•Hospital and outpatient claim costs

•Investment valuations and returns

•Bad debt and credit allowance exposure

•Consumer utilization of Milewise®, the Company’s pay-per-mile insurance product

•Retail sales in Allstate Protection Plans

This list is not inclusive of all potential impacts and should not be treated as such.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies


Note 2			Summary of Significant Accounting Policies

Investments

Fixed income securities include bonds and asset-backed securities (“ABS”). Fixed income securities, which may be sold prior to their contractual maturity, are designated as available-for-sale (“AFS”) and are carried at fair value. The difference between amortized cost, net of credit loss allowances (“amortized cost, net”) and fair value, net of deferred income taxes, is reflected as a component of accumulated other comprehensive income (“AOCI”). The Company excludes accrued interest receivable from the amortized cost basis of its AFS fixed income securities. Cash received from calls and make-whole payments is reflected as a component of proceeds from sales and cash received from maturities and pay-downs is reflected as a component of investment collections within the Consolidated Statements of Cash Flows.

Equity securities primarily include common stocks, exchange traded and mutual funds, non-redeemable preferred stocks and real estate investment trust equity investments. Certain exchange traded and mutual funds have fixed income securities as their underlying investments. Equity securities are carried at fair value. Equity securities without readily determinable or estimable fair values are measured using the measurement alternative, which is cost less impairment, if any, and adjustments resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer.

Mortgage loans and bank loans are carried at amortized cost, net, which represent the amount expected to be collected. The Company excludes accrued interest receivable from the amortized cost basis of its mortgage and bank loans. Credit loss allowances are estimates of expected credit losses, established for loans upon origination or purchase, and are established considering all relevant information available, including past events, current conditions, and reasonable and supportable forecasts over the life of the loans. Loans are evaluated on a pooled basis when they share similar risk characteristics; otherwise, they are evaluated individually.

Investments in limited partnership interests are primarily accounted for in accordance with the equity

method of accounting (“EMA”) and include interests in private equity funds, real estate funds and other funds. Investments in limited partnership interests purchased prior to January 1, 2018, where the Company’s interest is so minor that it exercises virtually no influence over operating and financial policies, are accounted for at fair value primarily utilizing the net asset value (“NAV”) as a practical expedient to determine fair value.

Short-term investments, including money market funds, commercial paper, U.S. Treasury bills and other short-term investments, are carried at fair value. Other investments primarily consist of bank loans, policy loans, real estate and derivatives. Bank loans are primarily senior secured corporate loans. Policy loans are carried at unpaid principal balances. Real estate is carried at cost less accumulated depreciation. Derivatives are carried at fair value.

Investment income primarily consists of interest, dividends, income from limited partnership interests, rental income from real estate, and income from certain derivative transactions.

Interest is recognized on an accrual basis using the effective yield method and dividends are recorded at the ex-dividend date. Interest income for ABS is determined considering estimated pay-downs, including prepayments, obtained from third-party data sources and internal estimates. Actual prepayment experience is periodically reviewed, and effective yields are recalculated when differences arise between the prepayments originally anticipated and the actual prepayments received and currently anticipated. For ABS of high credit quality with fixed interest rates, the effective yield is recalculated on a retrospective basis. For all others, the effective yield is generally recalculated on a prospective basis. Net investment income for AFS fixed income securities includes the impact of accreting the credit loss allowance for the time value of money. Accrual of income is suspended for fixed income securities when the timing and amount of cash flows expected to be received is not probable. Accrual of income is suspended for mortgage loans and bank loans that are in default or when full and timely collection of principal and interest payments is not probable. Accrued income receivable is monitored for recoverability, and when not expected

to be collected, is written off through net investment income. Cash receipts on investments on nonaccrual status are generally recorded as a reduction of amortized cost.

Income from limited partnership interests carried at fair value is recognized based upon the changes in fair value of the investee’s equity primarily determined using NAV. Income from EMA limited partnership interests is recognized based on the Company’s share of the partnerships’ earnings. Income from EMA limited partnership interests is generally recognized on a three month delay due to the availability of the related financial statements from investees.

Net gains and losses on investments and derivatives include gains and losses on investment sales, changes in the credit loss allowances related to fixed income securities, mortgage loans and bank loans, impairments, valuation changes of equity investments, including equity securities and certain limited partnerships where the underlying assets are predominately public equity securities, and periodic changes in fair value and settlements of certain derivatives, including hedge ineffectiveness. Net gains and losses on sales of investments and derivatives are determined on a specific identification basis and are net of credit losses already recognized through an allowance.

Derivative and embedded derivative financial instruments

Derivative financial instruments include interest rate swaps, credit default swaps, futures (interest rate and equity), options (including swaptions), warrants and stock rights, foreign currency forwards and total return swaps.

All derivatives are accounted for on a fair value basis and reported as other investments, other assets and other liabilities and accrued expenses. Embedded derivative instruments subject to bifurcation are also accounted for on a fair value basis and are reported together with the host contract. Cash flows from other derivatives are reported in cash flows from investing activities within the Consolidated Statements of Cash Flows.

For derivatives for which hedge accounting is not applied, the income statement effects, including fair value gains and losses and accrued periodic settlements, are reported either in net gains and losses on investments and derivatives or in a single line item together with the results of the associated asset or liability for which risks are being managed.

Securities loaned

The Company’s business activities include securities lending transactions, which are used primarily to generate net investment income. The proceeds received in conjunction with securities lending transactions can be reinvested in short-term investments or fixed income securities. These transactions are short-term in nature, usually 30 days or less.

The Company receives cash collateral for securities loaned in an amount generally equal to 102% and 105% of the fair value of domestic and foreign securities, respectively, and records the related obligations to return the collateral in other liabilities and accrued expenses. The carrying value of these obligations approximates fair value because of their relatively short-term nature. The Company monitors the market value of securities loaned on a daily basis and obtains additional collateral as necessary under the terms of the agreements to mitigate counterparty credit risk. The Company maintains the right and ability to repossess the securities loaned on short notice.

Recognition of premium revenues and contract charges, and related benefits and interest credited

Property and casualty insurance premiums include premiums from personal lines policies, protection plans, other contracts (primarily finance and insurance products) and roadside assistance.

Personal lines insurance premiums are deferred and earned on a pro-rata basis over the terms of the policies, typically periods of six or twelve months.

Revenues related to protection plans, other contracts (primarily finance and insurance products) and roadside assistance are deferred and earned over the term of the contract in a manner that recognizes revenue as obligations under the contracts are fulfilled. Revenues from these products are classified as premiums as the products are backed by insurance. Protection plans and finance and insurance premiums are recognized using a cost-based incurrence method over the term of the contracts, which is generally one to five years. Roadside assistance premiums are recognized evenly over the term of the contract as performance obligations are fulfilled.

The portion of premiums written applicable to the unexpired terms of the policies is recorded as unearned premiums.


Unearned premiums
	December 31,
($ in millions)	2022		2021
Allstate Protection	$	17,538	$	15,762
Protection Services	4,745		4,054
Total	$	22,283	$	19,816

Protection Services For the year ended December 31, 2022, the Company recognized $1.46 billion of property and casualty insurance premiums for Protection Services that were included in the unearned premium balance as of December 31, 2021.

For the year ended December 31, 2021, the Company recognized $1.28 billion of property and casualty insurance premiums for Protection Services that were included in the unearned premium balance as of December 31, 2020.

The Company expects to recognize approximately $1.64 billion, $1.31 billion and $1.79 billion of the December 31, 2022 unearned premium balance in 2023, 2024 and thereafter, respectively.

Premium installment receivables represent premiums written and not yet collected, net of the credit loss allowance for uncollectible premiums. These receivables are primarily outstanding for one year or less. The Company utilizes historical internal data

including aging analyses to estimate allowances under current conditions and for the forecast period. The Company regularly evaluates and updates the data and adjusts its allowance as appropriate.


Rollforward of credit loss allowance for premium installment receivables
	For the years ended December 31,
($ in millions)	2022		2021
Beginning balance	$	(107)	$	(153)
Increase in the provision for credit losses	(313)		(293)
Write-off of uncollectible premium installment receivable amounts	288		339
Ending balance	$	(132)	$	(107)

Voluntary accident and health insurance products are expected to remain in force for an extended period and therefore are primarily classified as long-duration contracts. Traditional life insurance products consist principally of products with fixed and guaranteed premiums and benefits, primarily term and whole life insurance products. Premiums from these products are recognized as revenue when due from policyholders, net of any credit loss allowance for uncollectible premiums. Benefits are reflected in accident, health and other policy benefits and recognized over the life of the policy in relation to premiums.

Interest-sensitive life contracts, such as universal life, are insurance contracts whose terms are not fixed and guaranteed. The terms that may be changed include premiums paid by the contractholder, interest credited to the contractholder account balance and contract charges assessed against the contractholder account balance. Premiums from these contracts are reported as contractholder fund deposits. Contract charges consist of fees assessed against the contractholder account balance for the cost of insurance (mortality risk), contract administration and surrender of the contract prior to contractually specified dates. These contract charges are recognized as revenue when assessed against the contractholder account balance. Benefit payments in excess of the contractholder account balance are reflected in accident, health and other policy benefits.

Interest credited to contractholder funds, which are reported in accident, health and other policy benefits, represents interest accrued or paid on interest-sensitive life contracts. Crediting rates for interest-sensitive life contracts are adjusted periodically by the Company to reflect current market conditions subject to contractually guaranteed minimum rates.

Other revenue

Other revenue represents fees collected from policyholders relating to premium installment payments, commissions on sales of non-proprietary products, sales of identity protection services, fee-based services and other revenue transactions. Other revenue is recognized when performance obligations are fulfilled.

The Company collects service fees in the form of commission and general agent fees by selling policies issued by third-party insurance companies. The

Company recognizes Medicare-related and other accident and health commission revenues equal to the estimated life-time value of the revenues at the time when the policy is sold, net of an allowance for estimated policy cancellations, as no further performance obligations exist. The allowance for estimated third-party cancellations is periodically evaluated and adjusted as necessary.

Deferred policy acquisition costs

Costs that are related directly to the successful acquisition of new or renewal policies or contracts are deferred and recorded as deferred policy acquisition costs (“DAC”). These costs are principally agent and broker remuneration, premium taxes and certain underwriting expenses. All other acquisition costs are expensed as incurred and included in operating costs and expenses.

For property and casualty insurance, DAC is amortized into income as premiums are earned, typically over periods of six or twelve months for personal lines policies or generally one to five years for protection plans and other contracts (primarily related to finance and insurance products), and is included in amortization of deferred policy acquisition costs. DAC associated with property and casualty insurance is periodically reviewed for recoverability and adjusted if necessary. Future investment income is considered in determining the recoverability of DAC.

For voluntary accident and health insurance and traditional life, DAC is amortized over the premium paying period of the related policies in proportion to the estimated revenues on such business.

Assumptions used in the amortization of DAC and reserve calculations are established at the time the policy is issued and are generally not revised during the life of the policy. Any deviations from projected business in force resulting from actual policy terminations differing from expected levels and any estimated premium deficiencies may result in a change to the rate of amortization in the period such events occur. Generally, the amortization periods for these policies approximates the estimated lives of the policies. The Company periodically reviews the recoverability of DAC using actual experience and current assumptions. Voluntary accident and health insurance products and traditional life insurance products are reviewed individually. If actual experience and current assumptions are adverse compared to the

original assumptions and a premium deficiency is determined to exist, any remaining unamortized DAC balance would be expensed to the extent not recoverable and the establishment of a premium deficiency reserve may be required for any remaining deficiency.

For interest-sensitive life insurance, DAC is amortized in proportion to the incidence of the total present value of gross profits expected to be earned over the estimated lives of the contracts.

Gross profits primarily consist of the following components: contract charges for the cost of insurance less mortality costs and other benefits; investment income and net gains and losses on investments less interest credited; and surrender and other contract charges less maintenance expenses. The principal assumptions for determining the amount of gross profits are mortality, persistency, expenses, investment returns and interest crediting rates to contractholders.

The Company performs quarterly reviews of DAC recoverability for interest-sensitive life using actual experience and current assumptions.

The DAC balance presented includes adjustments to reflect the amount by which the amortization of DAC would increase or decrease if the unrealized capital gains or losses in the respective product investment portfolios were actually realized. The adjustments are recorded net of tax in AOCI. DAC and deferred income taxes determined on unrealized capital gains and losses and reported in AOCI recognize the impact on shareholders’ equity consistently with the amounts that would be recognized in the income statement on net gains and losses on investments and derivatives.

Customers of the Company may exchange one insurance policy for another offered by the Company, or make modifications to an existing life, accident and health or property and casualty contract issued by the Company. These transactions are identified as internal replacements for accounting purposes. Internal replacement transactions determined to result in replacement contracts that are substantially unchanged from the replaced contracts are accounted for as continuations of the replaced contracts. Unamortized DAC related to the replaced contracts continue to be deferred and amortized in connection with the replacement contracts. For traditional life, accident and health and property and casualty insurance policies, any changes to unamortized DAC that result from replacement contracts are treated as prospective revisions and any costs associated with the issuance of replacement contracts are characterized as maintenance costs and expensed as incurred.

The costs assigned to the right to receive future cash flows from certain business purchased from other insurers are also classified as DAC in the Consolidated Statements of Financial Position. The costs capitalized represent the present value of future profits expected to be earned over the lives of the contracts acquired. These costs are amortized as profits emerge over the

lives of the acquired business and are periodically evaluated for recoverability. The present value of future profits was $13 million and $24 million as of December 31, 2022 and 2021, respectively. Amortization expense of the present value of future profits was $11 million, $323 million and $14 million in 2022, 2021 and 2020, respectively.

Reinsurance and Indemnification

Reinsurance In the normal course of business, the Company seeks to limit aggregate and single exposure to losses on large risks by purchasing reinsurance. The Company has also used reinsurance to affect the disposition of certain blocks of business. Reinsurance does not extinguish the Company’s primary liability under the policies written. Therefore, in addition to establishing allowances as appropriate after evaluating reinsurers’ activities related to claims settlement practices and commutations, the Company evaluates reinsurer counterparty credit risk and records reinsurance recoverables net of credit loss allowances. The Company assesses counterparty credit risk for individual reinsurers separately when more relevant or on a pooled basis when shared risk characteristics exist. The evaluation considers the credit quality of the reinsurer and the period over which the recoverable balances are expected to be collected. The Company considers factors including past events, current conditions and reasonable and supportable forecasts in the development of the estimate of credit loss allowances.

Allowances for property and casualty and accident and health reinsurance recoverables are established primarily through risk-based evaluations.

The property and casualty recoverable evaluation considers the credit rating of the reinsurer, the period over which the reinsurance recoverable balances are expected to be recovered and other relevant factors including historical experience of reinsurer failures. Reinsurers in liquidation or in default status are evaluated individually using the Company’s historical liquidation recovery assumptions and any other relevant information available including the most recent public information related to the financial condition or liquidation status of the reinsurer. For accident and health reinsurance recoverables, the Company uses a probability of default and loss given default model developed independently of the Company to estimate current expected credit losses. The accident and health reinsurance recoverable evaluation utilizes factors including historical industry factors based on the probability of liquidation, and incorporates current loss given default factors reflective of the industry.

The Company monitors the credit ratings of reinsurer counterparties and evaluates the circumstances surrounding credit rating changes as inputs into its credit loss assessments. Uncollectible reinsurance recoverable balances are written off against the allowances when there is no reasonable expectation of recovery.

The changes in the allowances are reported in property and casualty insurance claims and claims expense and accident, health and other policy benefits.

Indemnification The Company also participates in various indemnification mechanisms, including industry pools and facilities, which are reimbursement mechanisms that assess participating insurers for expected insured claims, reimburse participating insurers for qualifying paid claims and permit participating insurers to recoup amounts assessed directly from insureds. Indemnification recoverables are backed by the financial resources of the property and casualty insurance company market participants.

The amounts reported as indemnification recoverables include amounts paid and due from indemnitors as well as estimates of amounts expected to be recovered from indemnitors on insurance liabilities that have been incurred but not yet paid. The design and function of these indemnification programs does not result in the retention of insurance or reinsurance risk by the indemnitee. Based on the Company’s evaluation of these programs on an individual basis, the establishment of credit loss allowances is not warranted at this time. The Company has not experienced any historical credit losses related to its indemnification programs. The Company continues to monitor these programs to determine whether any changes from historical experience have emerged or are expected to emerge or whether there have been any changes in the design or administration of the programs that would require establishment of credit loss allowances.

Goodwill

Goodwill represents the excess of amounts paid for acquiring businesses over the fair value of the net assets acquired, less any impairment of goodwill recognized. The Company’s goodwill reporting units are equivalent to its reportable segments to which goodwill has been assigned: Allstate Protection, Protection Services, and Allstate Health and Benefits.


Goodwill by reporting unit
	December 31,
($ in millions)	2022		2021
Allstate Protection	$	1,563	$	1,563
Protection Services	1,494		1,494
Allstate Health and Benefits	445		445
Total	$	3,502	$	3,502

Goodwill is recognized when acquired and allocated to reporting units based on which unit is expected to benefit from the synergies of the business combination. Goodwill is not amortized but is tested for impairment at least annually. The Company performs its annual goodwill impairment testing during the fourth quarter of each year based upon data as of the close of the third quarter. Goodwill impairment is measured and recognized as the amount by which a reporting unit’s carrying value, including goodwill, exceeds its fair value, not to exceed the carrying amount of goodwill allocated to the reporting unit. The Company also reviews goodwill for impairment

whenever events or changes in circumstances, such as deteriorating or adverse market conditions, indicate that it is more likely than not that the carrying amount of the reporting unit including goodwill may exceed the fair value of the reporting unit. The goodwill impairment analysis is performed at the reporting unit level.

As of December 31, 2022 and 2021, the fair value of the Company’s goodwill reporting units exceeded their carrying values.

Intangible assets

Intangible assets (reported in other assets) consist of capitalized costs primarily related to acquired distribution and customer relationships, trade names and licenses, technology and other assets. The estimated useful lives of distribution and customer relationships, technology and other intangible assets are generally 10 years, 5 years and 7 years, respectively. Intangible assets are carried at cost less accumulated amortization.


Intangible assets by type
	December 31,
($ in millions)	2022		2021
Distribution and customer relationships	$	697	$	909
Trade names and licenses	179		206
Technology and other	301		305
Total	$	1,177	$	1,420

Amortization expense is calculated using an accelerated amortization method. Amortization expense on intangible assets was $353 million, $376 million and $118 million in 2022, 2021 and 2020, respectively.


Amortization expense of intangible assets for the next five years and thereafter
($ in millions)
2023	$	313
2024	248
2025	201
2026	91
2027	64
Thereafter	88
Total amortization	$	1,005

Accumulated amortization of intangible assets was $1.48 billion and $1.13 billion as of December 31, 2022 and 2021, respectively.

Trade names and licenses are considered to have an indefinite useful life and are reviewed for impairment at least annually or more frequent if circumstances arise that indicate an impairment may have occurred. An impairment is recognized if the carrying amount of the asset exceeds its estimated fair value.

Property and equipment

Property and equipment is carried at cost less accumulated depreciation. Included in property and equipment are capitalized costs related to computer software licenses and software developed for internal use. These costs generally consist of certain external payroll and payroll related costs. Property and equipment depreciation is calculated using the straight-line method over the estimated useful lives of the assets, generally 3 to 10 years for equipment and 40 years for real property. Depreciation expense is reported in operating costs and expenses. Accumulated depreciation on property and equipment was $2.45 billion and $2.44 billion as of December 31, 2022 and 2021, respectively. Depreciation expense on property and equipment was $335 million, $411 million and $353 million in 2022, 2021 and 2020, respectively. The Company reviews its property and equipment for impairment at least annually and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

Income taxes

Income taxes are accounted for using the asset and liability method under which deferred tax assets and liabilities are recognized for temporary differences between the financial reporting and tax bases of assets and liabilities at the enacted tax rates. The principal assets and liabilities giving rise to such differences are DAC, unearned premiums, investments (including unrealized capital gains and losses), intangible assets and insurance reserves. A deferred tax asset valuation allowance is established when it is more likely than not such assets will not be realized. The Company recognizes interest expense related to income tax matters in income tax expense and penalties in operating costs and expenses.

Reserve for property and casualty insurance claims and claims expense

The reserve for property and casualty insurance claims and claims expense is the estimate of amounts necessary to settle all reported and unreported incurred claims for the ultimate cost of insured property and casualty losses, based upon the facts of each case and the Company’s experience with similar cases. Estimated amounts of salvage and subrogation are deducted from the reserve for claims and claims expense. The establishment of appropriate reserves, including reserves for catastrophe losses, is an inherently uncertain and complex process. Reserve estimates are primarily derived using an actuarial estimation process in which historical loss patterns are applied to actual paid losses and reported losses (paid losses plus individual case reserves established by claim adjusters) for an accident or report year to create an estimate of how losses are likely to develop over time. Development factors are calculated quarterly and periodically throughout the year for data elements such as claims reported and settled, paid losses, and paid losses combined with case reserves. The effects of inflation are implicitly considered in the reserving process as a development factor using historic data incorporated as a reasonable estimate of future

inflation. The Company has also digitized and modified claim processes to increase effectiveness and efficiency. The historical development patterns for these data elements are used as the assumptions to calculate reserve estimates, including the reserves for reported and unreported claims; however, when the Company experiences changes it may lead to historical development trends being less predictive of future loss development, potentially creating additional reserve variability. Reserve estimates are regularly reviewed and updated, using the most current data and information available. Any resulting reestimates are reflected in current results of operations.

Reserve for future policy benefits

The reserve for future policy benefits payable under insurance policies, including voluntary accident and health insurance and traditional life insurance products, is computed on the basis of long-term actuarial assumptions of future investment yields, mortality, morbidity, policy terminations and expenses. These assumptions include provisions for adverse deviation and generally vary by characteristics such as type of coverage, year of issue and policy duration. The assumptions are established at the time the policy is issued and are generally not changed during the life of the policy. The Company periodically reviews the adequacy of reserves using actual experience and current assumptions. If actual experience and current assumptions are adverse compared to the original assumptions and a premium deficiency is determined to exist, any remaining unamortized DAC balance would be expensed to the extent not recoverable and the establishment of a premium deficiency reserve may be required for any remaining deficiency. Voluntary accident and health insurance and traditional life insurance products are reviewed individually. The Company also reviews these policies for circumstances where projected profits would be recognized in early years followed by projected losses in later years. If this circumstance exists, the Company will accrue a liability, during the period of profits, to offset the losses at such time as the future losses are expected to commence using a method updated prospectively over time.

Accident and health short duration contracts The reserve for future policy benefits includes unpaid losses and loss adjustment expense (“LAE”) reserves for individual and certain voluntary accident and health short-duration contracts and is an estimate of the Company’s liability from incurred claims at the end of the reporting period. The unpaid losses and LAE reserves are the result of an ongoing analysis of recent loss development trends and emerging historical experience. Original estimates are increased or decreased as additional information becomes known regarding individual claims. In setting its reserves, the Company reviews its loss data to estimate expected loss development. Management believes that its use of standard actuarial methodology applied to its analyses of its historical experience provides a reasonable estimate of future losses. However, actual future losses may differ from the Company’s estimate, and may be affected by future events, including inflation and changes in law and judicial interpretations, which

would favorably or unfavorably impact the ultimate settlement of the Company’s losses and LAE.

The anticipated effect of inflation is implicitly considered when estimating liabilities for losses and LAE. In addition to inflation, the average severity of claims is affected by a number of factors that may vary by types and features of policies written. Future average severities are projected from historical trends, adjusted for implemented changes in underwriting standards and policy provisions, as well as general economic trends. These estimated trends are monitored and revised as necessary based on actual development.

Unpaid losses include a provision for incurred-but-not-reported (“IBNR”) reserve estimates representing claims that have occurred but have not yet been reported, some of which are not yet known to the insured, as well as a provision for future development on reported claims. IBNR reserves are generally calculated by first projecting the ultimate cost of all claims that have occurred and then subtracting reported losses and loss expenses. Reported losses include cumulative paid losses and loss expenses plus case reserves.

Contractholder funds

Contractholder funds represent interest-bearing liabilities arising primarily from the sale of interest-sensitive life insurance contracts. Contractholder funds primarily comprise cumulative deposits received and interest credited to the contractholder less cumulative contract benefits, surrenders, withdrawals and contract charges for mortality or administrative expenses.

Pension and other postretirement remeasurement gains and losses

The Company’s policy is to remeasure its pension and postretirement plans on a quarterly basis. Pension and other postretirement gains and losses represent the remeasurement of projected benefit obligations and differences between the expected and actual return on plan assets, which are immediately recognized in earnings and are referred to as pension and other postretirement remeasurement gains and losses on the Consolidated Statements of Operations.

Differences in actual experience and changes in other assumptions affect the Company’s pension and other postretirement obligations and expenses. Differences between expected and actual returns on plan assets affect remeasurement gains and losses.

The primary factors contributing to pension and postretirement remeasurement gains and losses are:


• Changes in the discount rate used to value pension and postretirement obligations as of the measurement date
• Differences between the expected and the actual return on plan assets
• Changes in demographic assumptions, including mortality and participant experience
• Changes in lump sum interest rates used to value pension obligations as of the measurement date

Pension and other postretirement service cost, interest cost, expected return on plan assets and amortization of prior service credits are allocated to the Company’s reportable segments. The pension and other postretirement remeasurement gains and losses are reported in the Corporate and Other segment.

Legal contingencies

The Company reviews its lawsuits, regulatory inquiries, and other legal proceedings on an ongoing basis. The Company establishes accruals for such matters at management’s best estimate when the Company assesses that it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The Company’s assessment of whether a loss is reasonably possible or probable is based on its assessment of the ultimate outcome of the matter following all appeals. The Company does not include potential recoveries in its estimates of reasonably possible or probable losses. Legal fees are expensed as incurred.

Debt

Debt includes senior notes, senior debentures, subordinated debentures and junior subordinated debentures issued by the Corporation. Unamortized debt issuance costs and fair value adjustments are reported in debt and are amortized over the expected period the debt will remain outstanding.

Equity incentive plans

The Company has equity incentive plans under which it grants nonqualified stock options, restricted stock units and performance stock awards (“equity awards”) to certain employees and directors of the Company. The Company measures the fair value of equity awards at the grant date and recognizes the expense over the shorter of the period in which the requisite service is rendered or retirement eligibility is attained. The expense for performance stock awards with no market condition is adjusted each period to reflect the performance factor most likely to be achieved at the end of the performance period. The expense for performance stock awards with a market condition is based on the fair value of the awards at the grant date which incorporates the probability of achieving the market condition. In the event the market condition is not met, any previously recognized expense is not reversed. The Company uses a binomial lattice model to determine the fair value of employee stock options. The Company uses a Monte Carlo simulation model to determine the fair value of performance stock awards with a market condition.

Measurement of credit losses

The Company carries an allowance for expected credit losses for all financial assets measured at amortized cost on the Consolidated Statements of Financial Position. The Company considers past events, current conditions, and reasonable and supportable forecasts in estimating an allowance for credit losses. The Company also carries a credit loss allowance for fixed income securities where applicable and, when amortized cost is reported, it is net of credit

loss allowances. For additional information, refer to the Investments, Reinsurance, Indemnification or Recognition of premium revenues and contract charges, topics of this section.

The Company also estimates a credit loss allowance for commitments to fund mortgage loans and bank loans unless they are unconditionally cancellable by the Company. The related allowance is reported in other liabilities and accrued expenses.


Allowance for credit losses
	As of December 31,
($ in millions)	2022		2021
Fixed income securities	$	13	$	6
Mortgage loans	7		6
Bank loans	57		61
Investments	77		73
Premium installment receivables	132		107
Reinsurance recoverables	65		74
Other assets	19		26
Assets	293		280

Commitments to fund mortgage loans and bank loans	—		—
Liabilities	—		—
Total	$	293	$	280

Leases

The Company has certain operating leases for office facilities, computer and office equipment, and vehicles. The Company’s leases have remaining lease terms of generally 1 year to 8 years, some of which include options to extend the leases for up to 20 years, and some of which include options to terminate the leases within 60 days.

The Company determines if an arrangement is a lease at inception. Leases with an initial term less than one year are not recorded on the balance sheet and the lease costs for these leases are recorded as an expense on a straight-line basis over the lease term. Operating leases with terms greater than one year result in a lease liability recorded in other liabilities with a corresponding right-of-use (“ROU”) asset recorded in other assets. As of December 31, 2022 and 2021, the Company had $343 million and $465 million in lease liabilities and $234 million and $314 million in ROU assets, respectively.

Operating lease liabilities are recognized at the commencement date based on the present value of future minimum lease payments over the lease term. ROU assets are recognized based on the corresponding lease liabilities adjusted for qualifying initial direct costs, prepaid or accrued lease payments and unamortized lease incentives. As most of the Company’s leases do not disclose the implicit interest rate, the Company uses collateralized incremental borrowing rates based on information available at lease commencement when determining the present value of future lease payments. The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease. Lease terms may include options to extend or terminate the lease

which are incorporated into the Company’s measurements when it is reasonably certain that the Company will exercise the option.

Operating lease costs are recognized on a straight-line basis over the lease term and include interest expense on the lease liability and amortization of the ROU asset. Variable lease costs are expensed as incurred and include maintenance costs and real estate taxes. Lease costs are reported in operating costs and expenses and totaled $131 million and $162 million, including $23 million and $30 million of variable lease costs in 2022 and 2021, respectively.


Other information related to operating leases
	December 31,
	2022		2021
Weighted average remaining lease term (years)	4		5
Weighted average discount rate	3.08	%	3.09	%


Maturity of lease liabilities
($ in millions)	Operating leases
2023	$	100
2024	97
2025	71
2026	41
2027	26
Thereafter	32
Total lease payments	$	367
Less: interest	(24)
Present value of lease liabilities	$	343

Consolidation of variable interest entities

A VIE is a legal entity that does not have sufficient equity at risk to finance its activities without additional financial support or is structured such that equity investors lack the ability to make significant decisions relating to the entity’s operations through voting rights or do not participate in the gains and losses of the entity. The Company consolidates VIEs in which the Company is deemed the primary beneficiary. The primary beneficiary is the entity that has both (1) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE and (2) the power to direct the activities of the VIE that most significantly affect that entity’s economic performance.

Discontinued Operations and Held for Sale

A business is classified as held for sale when management having the authority to approve the action commits to a plan to sell the business, the sale is probable to occur during the next 12 months at a price that is reasonable in relation to its current fair value and certain other criteria are met. A business classified as held for sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. When the carrying amount of the business exceeds its estimated fair value less cost to sell, a loss is recognized and updated each reporting period as appropriate.

The Company completed its sale of the life and annuity business in 2021.

The results of operations of business classified as held for sale are reported as discontinued operations if the disposal represents a strategic shift that will have a major effect on the entity’s operations and financial results. The disposal of a reportable segment generally qualifies for discontinued operations presentation.

When a business is identified for discontinued operations reporting:

•Results for prior periods are retrospectively reclassified as discontinued operations

•Results of operations are reported in a single line, net of tax, in the Consolidated Statements of Operations

•Assets and liabilities are reported as held for sale in the Consolidated Statements of Financial Position in the period in which the business is classified as held for sale

Additional details by major classification of operating results and financial position are included in Note 3.

Foreign currency translation

The local currency of the Company’s foreign subsidiaries is deemed to be the functional currency of the country in which these subsidiaries operate. The financial statements of the Company’s foreign subsidiaries are translated into U.S. dollars at the exchange rate in effect at the end of a reporting period for assets and liabilities and at average exchange rates during the period for results of operations.

The unrealized gains and losses from the translation of the net assets are recorded as unrealized foreign currency translation adjustments and included in AOCI. Changes in unrealized foreign currency translation adjustments are included in other comprehensive income (“OCI”). Gains and losses from foreign currency transactions are reported in operating costs and expenses and have not been material.

Earnings per common share

Basic earnings per common share is computed using the weighted average number of common shares outstanding, including vested unissued participating restricted stock units. Diluted earnings per common share is computed using the weighted average number of common and dilutive potential common shares outstanding.

For the Company, dilutive potential common shares consist of outstanding stock options and unvested non-participating restricted stock units and contingently issuable performance stock awards. The effect of dilutive potential common shares does not include options with an anti-dilutive effect on earnings per common share because their exercise prices exceed the average market price of Allstate common shares during the period or for which the unrecognized compensation cost would have an anti-dilutive effect.


Computation of basic and diluted earnings per common share
	For the years ended December 31,
($ in millions, except per share data)	2022		2021		2020
Numerator:
Net (loss) income from continuing operations	$	(1,364)	$	5,159	$	5,429
Less: Net loss attributable to noncontrolling interest	(53)		(33)		—
Net (loss) income from continuing operations attributable to Allstate	(1,311)		5,192		5,429
Less: Preferred stock dividends	105		114		115
Net (loss) income from continuing operations applicable to common shareholders	(1,416)		5,078		5,314
Income (loss) from discontinued operations, net of tax	—		(3,593)		147
Net (loss) income applicable to common shareholders	$	(1,416)	$	1,485	$	5,461

Denominator:
Weighted average common shares outstanding	271.2		294.8		311.6
Effect of dilutive potential common shares (1):
Stock options	—		2.7		2.2
Restricted stock units (non-participating) and performance stock awards	—		1.6		1.7
Weighted average common and dilutive potential common shares outstanding	271.2		299.1		315.5

Earnings per share applicable to common shareholders
Basic
Continuing operations	$	(5.22)	$	17.23	$	17.06
Discontinued operations	—		(12.19)		0.47
Total	$	(5.22)	$	5.04	$	17.53

Diluted (1)
Continuing operations	$	(5.22)	$	16.98	$	16.84
Discontinued operations	—		(12.02)		0.47
Total	$	(5.22)	$	4.96	$	17.31

Anti-dilutive options excluded from diluted earnings per common share	1.7		1.3		2.9
Weighted average dilutive potential common shares excluded due to net loss applicable to common shareholders (1)	3.1		—		—

(1)As a result of the net loss reported for the year ended December 31, 2022, weighted average shares for basic earnings per share is also used for calculating diluted earnings per share because all dilutive potential common shares are anti-dilutive and are therefore excluded from the calculation.

Pending accounting standard

Accounting for Long-Duration Insurance Contracts In August 2018, the Financial Accounting Standards Board (“FASB”) issued guidance revising the accounting for certain long-duration insurance contracts. As disclosed in Note 3, the Company sold substantially all of its life and annuity business in scope of the new standard. The Company’s reserves and DAC for certain voluntary and individual life and accident and health insurance products are subject to the new guidance.

Under the new guidance, measurement assumptions, including those for mortality, morbidity and policy terminations, will be required to be reviewed at least annually, and updated as appropriate. The effects of updating assumptions other than the discount rate are required to be measured on a retrospective basis and reported in net income. In addition, reserves under the new guidance are required to be discounted using an upper-medium grade fixed income instrument yield that is updated through OCI at each reporting date. Current GAAP requires the measurement of reserves to utilize assumptions set at policy issuance unless updated current assumptions indicate that recorded reserves are deficient.

The new guidance also requires DAC and other capitalized balances currently amortized in proportion to premiums or gross profits to be amortized on a constant level basis over the expected term for all long-duration insurance contracts. DAC will not be subject to loss recognition testing but will be reduced when actual lapse experience exceeds expected experience.

The new guidance is effective for financial statements issued for reporting periods beginning after December 15, 2022 and restatement of prior periods presented is required. The new guidance will be applied to affected contracts and DAC on the basis of existing carrying amounts at the earliest period presented.

In December 2022, the FASB issued Accounting Standards Update No. 2022-05 (“ASU 2022-05”) that provides reporting entities with an accounting policy election to not apply the new guidance to insurance contracts in-force on the January 1, 2021 transition date but sold prior to the January 1, 2023 effective date provided certain conditions are met. The Company will make an election to not apply the new guidance to

sold contracts that meet the conditions included in ASU 2022-05.

The Company will adopt the new guidance effective January 1, 2023, using the modified retrospective approach. The Company is finalizing its implementation activities which include updating processes and controls resulting from the new guidance, model validation, and establishing new accounting policies and practices for validating model inputs and assumptions on a periodic basis.

Impact of adoption at January 1, 2021

Decrease in equity

$250 million to $350 million

Decrease in retained income

$15 million to $35 million

Decrease in AOCI

$235 million to $315 million

The expected decrease in equity includes the anticipated decrease in AOCI primarily attributable to a change in the discount rate used in measuring the liability for future policy benefits for traditional life contracts and other long-term products with guaranteed terms from a portfolio-based rate at contract issuance to an upper-medium grade fixed income-based rate. The expected decrease in equity also includes the anticipated decrease in retained income which primarily relates to certain long-term contracts with guaranteed terms with net premium ratios that are required to be adjusted at the transition date. The impact on equity, AOCI, and retained income excludes sold contracts that would meet the conditions included in ASU 2022-05.

Impact of adoption to AOCI and net income

As of and for the years ended December 31,

2022

2021

Ending AOCI (1)

$0 million to $(50) million

$(200) million to $(250) million

Increase in net income

$5 million to $20 million

(1)Represents the impact of adoption to the ending balance of AOCI reported on the Consolidated Statements of Financial Position.

The estimated impact to AOCI at transition date will decline significantly at the effective date due to the increase in the discount rate between the transition date and effective date.

Acquisitions and Dispositions

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions and Disposition


Note 3			Acquisitions and Dispositions

Acquisitions

National General On January 4, 2021, the Company completed the acquisition of National General Holdings Corp. (“National General”), an insurance holding company serving customers predominantly through independent agents for property and casualty and accident and health products.

National General provides personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, lender-placed auto and property, health and other niche insurance products. This acquisition increased the Company’s market share in personal property-liability and enhanced its independent agent distribution platform.


Assets and liabilities recognized in the National General acquisition (1)
($ in millions)	January 4, 2021
Assets
Investments	$	4,962
Cash	400
Premiums and other receivables, net	1,539
Deferred acquisition costs (value of business acquired)	317
Reinsurance recoverables, net	1,212
Intangible assets	1,199
Other assets	734
Goodwill (2)	1,038
Total assets	11,401

Liabilities
Reserve for property and casualty insurance claims and claims expense	2,765
Reserve for future policy benefits	186
Unearned premiums	2,245
Reinsurance payable	363
Debt (3)	593
Deferred tax liabilities	162
Other liabilities	776
Total liabilities	$	7,090

(1)The amounts reflect allocation of assets acquired and liabilities assumed.

(2)$675 million, $20 million and $343 million of goodwill were allocated to the Allstate Protection, Protection Services and Allstate Health and Benefits segments, respectively, and is non-deductible for income tax purposes. Goodwill is primarily attributable to expected synergies and future growth opportunities.

(3)Subsequent to the acquisition, the Company repaid $100 million of 7.625% Subordinated Notes and $72 million of Subordinated Debentures on February 3, 2021 and March 15, 2021, respectively. As of December 31, 2022, the Company had principal balance remaining of $350 million 6.750% Senior Notes due 2024, with a fair value adjustment of $26 million.

Intangible assets (reported in other assets in the Consolidated Statements of Financial Position) consist of capitalized costs, primarily of the estimated fair value of distribution and customer relationships, trade names, licenses and technology assets.


Intangible assets by type
($ in millions)	January 4, 2021
Distribution and customer relationships	$	795
Trade names	102
Licenses	97
Technology	205
Total	$	1,199

Value of business acquired (reported in DAC in the Consolidated Statements of Financial Position) recognized in connection with the acquisition of National General represents the value of future profits expected to be earned over the lives of the contracts acquired determined using a weighted-average cost of capital discount and other relevant assumptions. These costs are amortized over the policy term of the contracts in force at the acquisition date, generally over six or twelve months. The value of business acquired asset recognized in connection with the National General acquisition totaled $317 million, all of which was expensed in 2021. The most significant portion relates to insurance contracts in the Allstate Protection segment.

Other fair value adjustments included an increase in reserves of $62 million, a $9 million reduction to investments that were not held at fair value, and a net increase in current and deferred tax liabilities of $153 million.

Transactions costs (reported in operating costs and expenses in the Consolidated Statements of Operations) of $22 million related to the acquisition were expensed as incurred in the Corporate and Other segment.

SafeAuto On October 1, 2021, the Company completed the acquisition of Safe Auto Insurance Group, Inc. (“SafeAuto”), a non-standard auto insurance carrier focused on providing state-minimum private-passenger auto insurance direct to consumers with coverage options in 28 states, for $267 million in cash. Starting in the fourth quarter of 2021, the Allstate Protection segment includes SafeAuto.

In connection with the acquisition, the Company recorded goodwill of $79 million, intangible assets of $31 million and value of business acquired of $7 million. The intangible assets include $25 million and $6 million related to acquired customer relationships and licenses, respectively.

On December 17, 2021, subsequent to the acquisition, the Company redeemed the outstanding principal of SafeAuto’s trust preferred securities for $13 million.

Dispositions

Life and annuity business On October 1, 2021, the Company closed the sale of Allstate Life Insurance Company of New York (“ALNY”) to Wilton Reassurance Company for $400 million. On November 1, 2021, the Company closed the sale of Allstate Life Insurance Company (“ALIC”) and certain affiliates to entities managed by Blackstone for total proceeds of $4 billion, including a pre-close dividend of $1.25 billion paid by ALIC.

In connection with the sale of ALIC and certain affiliates, the sale agreement includes a provision related to contingent consideration that may be earned over a ten-year period with the first potential payment date commencing on January 1, 2026 and a final potential payment date of January 1, 2035. The contingent consideration is determined annually based on the average ten-year Treasury rate over the preceding three-year period compared to a designated

rate. The contingent consideration meets the definition of a derivative and is accounted for on a fair value basis with periodic changes in fair value reflected in earnings. See Note 7 for further details.

In 2021, the loss on disposition was $4.09 billion, after-tax, and reflects purchase price adjustments associated with certain pre-close transactions specified in the stock purchase agreements, changes in statutory capital and surplus prior to the closing date and the closing date equity of the sold entities determined under GAAP, excluding AOCI derecognized related to the dispositions.

Beginning in the first quarter of 2021, the assets and liabilities of the business were reclassified as held for sale and results are presented as discontinued operations. This change was applied on a retrospective basis.


Financial results from discontinued operations
	For the years ended December 31,
($ in millions)		2021		2020
Revenues
Life premiums and contract charges		$	1,109	$	1,350
Net investment income		1,336		1,262
Net gains (losses) on investments and derivatives		195		269
Total revenues		2,640		2,881

Costs and expenses
Life contract benefits		1,315		1,726
Interest credited to contractholder funds		414		605
Amortization of DAC		87		153
Operating costs and expenses		163		238
Restructuring and related charges		31		7
Total costs and expenses		2,010		2,729

Amortization of deferred gain on reinsurance		4		4

Income from discontinued operations before income tax expense		634		156

Income tax expense		136		9

Income from discontinued operations, net of tax		498		147

Loss on disposition of operations		(4,315)		—
Income tax benefit		(224)		—
Loss on disposition of operations, net of tax		(4,091)		—

(Loss) income from discontinued operations, net of tax		$	(3,593)	$	147


Major classes of assets and liabilities disposed in transactions
($ in millions)	Closing (1)
Assets
Investments
Fixed income securities, at fair value	$	26,425
Equity securities, at fair value	11
Mortgage loans, net	2,662
Limited partnership interests	1,624
Short-term, at fair value	643
Other investments, net	690
Total investments	$	32,055
Cash	1,081
Deferred policy acquisitions costs	996
Reinsurance recoverables, net	1,979
Accrued investment income	240
Other assets	536
Separate accounts	3,465
Total assets	$	40,352

Liabilities
Reserve for future policy benefits	$	11,573
Contractholder funds	15,880
Deferred income taxes	834
Other liabilities and accrued expenses	452
Separate accounts	3,465
Total liabilities	$	32,204

(1)The Company closed the sales of Allstate Life Insurance Company of New York and Allstate Life Insurance Company and certain affiliates on October 1, 2021 and November 1, 2021, respectively.


Cash flows from discontinued operations
	For the years ended December 31,
($ in millions)		2021		2020
Net cash provided by operating activities from discontinued operations		$	634	$	311
Net cash provided by investing activities from discontinued operations		984		330

Reportable Segments

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Reportable Segments


Note 4			Reportable Segments

The Company’s chief operating decision maker reviews financial performance and makes decisions about the allocation of resources for the five reportable segments. These segments are described below and align with the Company’s key product and service offerings.

Allstate Protection principally offers private passenger auto and homeowners insurance in the United States and Canada, with earned premiums accounting for 85.4% of Allstate’s 2022 consolidated revenues. Allstate Protection primarily operates in the U.S. (all 50 states and the District of Columbia (“D.C.”)) and Canada. For 2022, the top geographic locations for statutory direct premiums for the Allstate Protection segment were Texas, California, New York and Florida. No other jurisdiction accounted for more than 5% of statutory direct premiums for Allstate Protection. Revenues from external customers generated outside the United States were $1.94 billion, $1.86 billion and $1.57 billion in 2022, 2021 and 2020, respectively.

Run-off Property-Liability includes property and casualty insurance coverage that primarily relates to policies written during the 1960s through the mid-1980s. Our exposure to asbestos, environmental and other run-off lines claims arises principally from direct excess commercial insurance, assumed reinsurance coverage, direct primary commercial insurance and other businesses in run-off.

Protection Services comprise Allstate Protection Plans, Allstate Dealer Services, Allstate Roadside, Arity and Allstate Identity Protection. Protection Services offer consumer product protection plans, finance and insurance products (including vehicle service contracts, guaranteed asset protection waivers, road hazard tire and wheel and paintless dent repair protection), roadside assistance, device and mobile data collection services and analytic solutions using automotive telematics information and identity protection. Protection Services primarily operates in the U.S. and Canada, with Allstate Protection Plans also offering services in Europe, Australia and Asia. Revenues from external customers generated outside the United

States relate to consumer product protection plans sold primarily in the European Union and were $258 million, $232 million and $188 million in 2022, 2021 and 2020, respectively.

Allstate Health and Benefits offers employer voluntary benefits, group health and individual health products, including life, accident, critical illness, hospital, short-term disability and other health products. Allstate Health and Benefits primarily operates in the U.S. (all 50 states and D.C.) and Canada. For 2022, the top geographic locations for statutory direct accident, health and life insurance premiums were Florida, Texas, Georgia and Ohio. No other jurisdiction accounted for more than 5% of statutory direct accident, health and life insurance premiums. Revenues from external customers generated outside the United States relate to voluntary accident and health insurance sold in Canada and were not material.

Corporate and Other comprises holding company activities and certain non-insurance operations, including expenses associated with strategic initiatives.

Beginning in the first quarter of 2021, National General results are included in the following segments:

•Property and casualty - Allstate Protection

•Accident and health - Allstate Health and Benefits

•Technology solutions - Protection Services

Allstate Protection and Run-off Property Liability segments comprise Property-Liability. The Company does not allocate investment income, net gains and losses on investments and derivatives, or assets to the Allstate Protection and Run-off Property Liability segments. Management reviews assets at the Property-Liability, Protection Services, Allstate Health and Benefits, and Corporate and Other levels for decision-making purposes.

The accounting policies of the reportable segments are the same as those described in Note 2. The effects of intersegment transactions are eliminated in the consolidated results. For segment results, services provided by Protection Services to Allstate Protection are not eliminated as management considers those transactions in assessing the results of the respective segments.

Measuring segment profit or loss

The measure of segment profit or loss used in evaluating performance is underwriting income for the Allstate Protection and Run-off Property-Liability and adjusted net income for the Protection Services, Allstate Health and Benefits and Corporate and Other segments.

Underwriting income is calculated as premiums earned and other revenue, less claims and claims expenses (“losses”), Shelter-in-Place Payback expense, amortization of DAC, operating costs and expenses, amortization or impairment of purchased intangibles and restructuring and related charges as determined using GAAP.

Adjusted net income is net income (loss) applicable to common shareholders, excluding:


•			Net gains and losses on investments and derivatives
•			Pension and other postretirement remeasurement gains and losses

•			Business combination expenses and the amortization or impairment of purchased intangibles
•			Income or loss from discontinued operations
•			Gain or loss on disposition
•			Adjustments for other significant non-recurring, infrequent or unusual items, when (a) the nature of the charge or gain is such that it is reasonably unlikely to recur within two years, or (b) there has been no similar charge or gain within the prior two years
•			Income tax expense or benefit on reconciling items

A reconciliation of these measures to net income (loss) applicable to common shareholders is provided below.


Reportable segments financial performance
	For the years ended December 31,
($ in millions)	2022		2021		2020
Underwriting income (loss) by segment
Allstate Protection	$	(2,782)	$	1,785	$	4,569
Run-off Property-Liability	(129)		(120)		(144)
Total Property-Liability	(2,911)		1,665		4,425

Adjusted net income (loss) by segment, after-tax
Protection Services	169		179		153
Allstate Health and Benefits	222		208		96
Corporate and Other	(422)		(433)		(428)

Reconciling items
Property-Liability net investment income	2,190		3,118		1,421
Net gains (losses) on investments and derivatives	(1,072)		1,084		1,087
Pension and other postretirement remeasurement gains (losses)	(116)		644		51

Curtailment gains (losses)	—		—		8
Business combination expenses and amortization of purchased intangibles (1)	(113)		(157)		(106)
Business combination fair value adjustment	—		6		—
Gain (loss) on disposition (2)	89		—		—

Income tax benefit (expense) on reconciling items and other	496		(1,270)		(1,393)
Total reconciling items	1,474		3,425		1,068

Income (loss) from discontinued operations	—		(3,612)		157
Income tax benefit (expense) from discontinued operations	—		19		(10)
Total from discontinued operations	$	—	$	(3,593)	$	147

Less: Net loss attributable to noncontrolling interest (3)	(52)		(34)		—

Net (loss) income applicable to common shareholders	$	(1,416)	$	1,485	$	5,461

(1)Excludes amortization or impairment of purchased intangibles in Property-Liability, which is included above in underwriting income.

(2)Includes $83 million related to the gain on sale of headquarters in the fourth quarter of 2022 reported as other revenue in Corporate and Other segment.

(3)Reflects net loss attributable to noncontrolling interest in Property-Liability.


Reportable segments revenue information
	For the years ended December 31,
($ in millions)	2022		2021		2020
Property-Liability
Insurance premiums
Auto	$	29,715	$	27,623	$	24,640
Homeowners	10,912		9,927		8,254
Other personal lines	2,159		2,077		1,919
Commercial lines	1,123		827		767
Allstate Protection	43,909		40,454		35,580
Run-off Property-Liability	—		—		—
Total Property-Liability insurance premiums	43,909		40,454		35,580
Other revenue	1,416		1,437		857
Net investment income	2,190		3,118		1,421
Net gains (losses) on investments and derivatives	(877)		1,021		990
Total Property-Liability	46,638		46,030		38,848

Protection Services
Protection Plans	1,307		1,132		909
Roadside assistance	202		192		188
Finance and insurance products	486		440		396
Intersegment premiums and service fees (1)	149		175		147
Other revenue	347		354		208
Net investment income	48		43		44
Net gains (losses) on investments and derivatives	(52)		25		30
Total Protection Services	2,487		2,361		1,922

Allstate Health and Benefits
Employer voluntary benefits	1,036		1,031		1,094
Group health	385		350		—
Individual health	412		440		—
Other revenue	402		359		—
Net investment income	69		74		78
Net gains (losses) on investments and derivatives	(44)		7		8
Total Allstate Health and Benefits	2,260		2,261		1,180

Corporate and Other
Other revenue	179		22		—
Net investment income	96		58		47
Net gains (losses) on investments and derivatives	(99)		31		59
Total Corporate and Other	176		111		106

Intersegment eliminations (1)	(149)		(175)		(147)
Consolidated revenues	$	51,412	$	50,588	$	41,909

(1)Intersegment insurance premiums and service fees are primarily related to Arity and Allstate Roadside and are eliminated in the consolidated financial statements.


Additional significant financial performance data
	For the years ended December 31,
($ in millions)	2022		2021		2020
Amortization of DAC
Property-Liability	$	5,570	$	5,313	$	4,642
Protection Services	928		795		658
Allstate Health and Benefits	146		144		177
Consolidated	$	6,644	$	6,252	$	5,477

Income tax expense (benefit)
Property-Liability	$	(427)	$	1,151	$	1,382
Protection Services	5		39		26
Allstate Health and Benefits	39		50		28
Corporate and Other	(111)		49		(63)
Consolidated	$	(494)	$	1,289	$	1,373

Interest expense is primarily incurred in the Corporate and Other segment. Capital expenditures for long-lived assets are generally made in Property-Liability as the Company does not allocate assets to the Allstate Protection and Run-off Property-Liability segments. A portion of these long-lived assets are used by entities included in the Protection Services, Allstate Health and Benefits and Corporate and Other segments and, accordingly, are charged to expenses in proportion to their use.


Reportable segment total assets, investments and deferred policy acquisition costs
	As of December 31,
($ in millions)	2022		2021
Assets
Property-Liability	$	82,744	$	84,846
Protection Services	6,922		6,909
Allstate Health and Benefits	3,720		4,015
Corporate and Other	4,571		3,670
Consolidated	$	97,957	$	99,440

Investments (1)
Property-Liability	$	54,011	$	57,258
Protection Services	1,917		1,890
Allstate Health and Benefits	1,872		2,191
Corporate and Other	4,029		3,362
Consolidated	$	61,829	$	64,701

Deferred policy acquisition costs
Property-Liability	$	2,146	$	1,951
Protection Services	2,768		2,294
Allstate Health and Benefits	504		477
Consolidated	$	5,418	$	4,722

(1)The balances reflect the elimination of related party investments between segments.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 21
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
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-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Investments

12 Months Ended

Dec. 31, 2022

Investments [Abstract]

Investments


Note 5			Investments


Portfolio composition
	As of December 31,
($ in millions)	2022		2021
Fixed income securities, at fair value	$	42,485	$	42,136
Equity securities, at fair value	4,567		7,061
Mortgage loans, net	762		821
Limited partnership interests	8,114		8,018
Short-term investments, at fair value	4,173		4,009
Other investments, net	1,728		2,656
Total	$	61,829	$	64,701


Amortized cost, gross unrealized gains (losses) and fair value for fixed income securities
	Amortized cost, net		Gross unrealized				Fair value
($ in millions)			Gains		Losses
December 31, 2022
U.S. government and agencies	$	8,123	$	6	$	(231)	$	7,898
Municipal	6,500		36		(326)		6,210
Corporate	28,562		46		(2,345)		26,263
Foreign government	997		—		(40)		957
ABS	1,188		4		(35)		1,157
Total fixed income securities	$	45,370	$	92	$	(2,977)	$	42,485

December 31, 2021
U.S. government and agencies	$	6,287	$	12	$	(26)	$	6,273
Municipal	6,130		279		(16)		6,393
Corporate	26,834		688		(192)		27,330
Foreign government	982		9		(6)		985
ABS	1,143		14		(2)		1,155
Total fixed income securities	$	41,376	$	1,002	$	(242)	$	42,136


Scheduled maturities for fixed income securities
	As of December 31, 2022				As of December 31, 2021
($ in millions)	Amortized cost, net		Fair value		Amortized cost, net		Fair value
Due in one year or less	$	2,870	$	2,836	$	1,105	$	1,111
Due after one year through five years	26,546		25,217		21,039		21,291
Due after five years through ten years	11,035		9,870		13,808		14,079
Due after ten years	3,731		3,405		4,281		4,500
	44,182		41,328		40,233		40,981
ABS	1,188		1,157		1,143		1,155
Total	$	45,370	$	42,485	$	41,376	$	42,136

Actual maturities may differ from those scheduled as a result of calls and make-whole payments by the issuers. ABS is shown separately because of potential prepayment of principal prior to contractual maturity dates.


Net investment income
	For the years ended December 31,
($ in millions)	2022		2021		2020
Fixed income securities	$	1,255	$	1,148	$	1,232
Equity securities	132		100		78
Mortgage loans	33		43		34
Limited partnership interests	985		1,973		238
Short-term investments	82		5		17
Other investments	162		195		124
Investment income, before expense	2,649		3,464		1,723
Investment expense	(246)		(171)		(133)
Net investment income	$	2,403	$	3,293	$	1,590


Net gains (losses) on investments and derivatives by asset type
	For the years ended December 31,
($ in millions)	2022		2021		2020
Fixed income securities	$	(875)	$	425	$	925
Equity securities	(900)		520		117
Mortgage loans	(1)		20		(1)
Limited partnership interests	(191)		(52)		(14)
Derivatives	874		49		49
Other investments	21		122		11
Net gains (losses) on investments and derivatives	$	(1,072)	$	1,084	$	1,087


Net gains (losses) on investments and derivatives by transaction type
	For the years ended December 31,
($ in millions)	2022		2021		2020
Sales	$	(832)	$	578	$	974
Credit losses	(54)		(42)		(32)
Valuation change of equity investments (1)	(1,060)		499		96
Valuation change and settlements of derivatives	874		49		49
Net gains (losses) on investments and derivatives	$	(1,072)	$	1,084	$	1,087

(1)Includes valuation change of equity securities and certain limited partnership interests where the underlying assets are predominately public equity securities.


Gross realized gains (losses) on sales of fixed income securities
	For the years ended December 31,
($ in millions)	2022		2021		2020
Gross realized gains	$	136	$	587	$	1,105
Gross realized losses	(1,004)		(158)		(177)


Net appreciation (decline) recognized in net income for assets that are still held
	For the years ended December 31,
($ in millions)	2022		2021		2020
Equity securities	$	(466)	$	377	$	247
Limited partnership interests carried at fair value	(5)		435		150
Total	$	(471)	$	812	$	397


Credit losses recognized in net income
	For the years ended December 31,
($ in millions)		2022		2021		2020
Assets
Fixed income securities:

Corporate		$	(6)	$	(5)	$	(1)
ABS		(1)		1		(2)
Total fixed income securities		(7)		(4)		(3)
Mortgage loans		(1)		18		(1)
Limited partnership interests		(4)		(34)		(6)
Other investments
Bank loans		(26)		(22)		(23)
Real estate		(16)		—		—
Total credit losses by asset type		$	(54)	$	(42)	$	(33)

Liabilities
Commitments to fund commercial mortgage loans and bank loans		—		—		1
Total		$	(54)	$	(42)	$	(32)


Unrealized net capital gains and losses included in AOCI
($ in millions)	Fair value		Gross unrealized				Unrealized net gains (losses)
December 31, 2022			Gains		Losses
Fixed income securities	$	42,485	$	92	$	(2,977)	$	(2,885)
Short-term investments	4,173		—		(1)		(1)
Derivative instruments	—		—		(3)		(3)
Limited partnership interests (1)							2

Unrealized net capital gains and losses, pre-tax							(2,887)
Other unrealized net capital gains and losses, pre-tax (2)							26
Deferred income taxes							608
Unrealized net capital gains and losses, after-tax							$	(2,253)

December 31, 2021
Fixed income securities	$	42,136	$	1,002	$	(242)	$	760
Short-term investments	4,009		—		—		—
Derivative instruments	—		—		(3)		(3)
Limited partnership interests							(1)
Unrealized net capital gains and losses, pre-tax							756
Other unrealized net capital gains and losses, pre-tax (2)							5
Deferred income taxes							(163)
Unrealized net capital gains and losses, after-tax							$	598

(1)Unrealized net capital gains and losses for limited partnership interests represent the Company’s share of EMA limited partnerships’ OCI. Fair value and gross unrealized gains and losses are not applicable.

(2)Includes amounts recognized for the reclassification of unrealized gains and losses related to noncontrolling interest and the amount by which the amortization of DAC would increase or decrease if the unrealized gains or losses in the respective product portfolios were realized.


Change in unrealized net capital gains (losses)
	For the years ended December 31,
($ in millions)	2022		2021		2020
Fixed income securities	$	(3,645)	$	(1,771)	$	2,152

Short-term investments	(1)		—		—
Derivative instruments	—		—		—
Limited partnerships interests	3		—		—
Investments classified as held for sale	—		(2,369)		—
Total	(3,643)		(4,140)		2,152
Other unrealized net capital gains and losses, pre-tax	21		865		(510)
Deferred income taxes	771		693		(349)
(Decrease) increase in unrealized net capital gains and losses, after-tax	$	(2,851)	$	(2,582)	$	1,293

Mortgage loans The Company’s mortgage loans are commercial mortgage loans collateralized by a variety of commercial real estate property types located across the United States and totaled $762 million and $821 million, net of credit loss allowance, as of December 31, 2022 and 2021, respectively. Substantially all of the commercial mortgage loans are non-recourse to the borrower.


Principal geographic distribution of commercial real estate exceeding 5% of the mortgage loans portfolio
	As of December 31,
(% of mortgage loan portfolio carrying value)	2022		2021
California	24.9	%	19.6	%
Texas	16.3		20.4
Washington	7.3		4.3
Florida	6.4		6.0
Tennessee	6.1		5.7
Ohio	5.6		5.3
Massachusetts	2.6		5.7
Illinois	2.4		6.7


Types of properties collateralizing the mortgage loan portfolio
	As of December 31,
(% of mortgage loan portfolio carrying value)	2022		2021
Apartment complex	30.2	%	35.3	%
Retail	27.4		23.8
Office	17.5		18.5
Warehouse	16.0		11.0
Other	8.9		11.4
Total	100.0	%	100.0	%


Contractual maturities of the mortgage loan portfolio
	As of December 31, 2022
($ in millions)	Number of loans	Amortized cost, net		Percent
2023	6	$	61	8.0	%
2024	5	89		11.7
2025	7	85		11.2
2026	5	100		13.1
Thereafter	28	427		56.0
Total	51	$	762	100.0	%

Limited partnership interests include interests in private equity funds, real estate funds and other funds. Principal factors influencing carrying value appreciation or decline include operating performance, comparable public company earnings multiples, capitalization rates and the economic environment. For equity method limited partnerships, the Company recognizes an impairment loss when evidence demonstrates that the loss is other than temporary. Evidence of a loss in value that is other than temporary may include the absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain a level of earnings that would justify the carrying amount of the investment. Changes in fair value limited partnerships are recorded through net investment income and therefore are not tested for impairment.


Carrying value for limited partnership interests
	As of December 31, 2022						As of December 31, 2021
($ in millions)	EMA		Fair Value		Total		EMA		Fair Value		Total
Private equity	$	5,372	$	1,217	$	6,589	$	4,905	$	1,434	$	6,339
Real estate	1,013		29		1,042		823		97		920
Other (1)	483		—		483		759		—		759
Total	$	6,868	$	1,246	$	8,114	$	6,487	$	1,531	$	8,018

(1)Other consists of certain limited partnership interests where the underlying assets are predominately public equity and debt securities.

Municipal bonds The Company maintains a diversified portfolio of municipal bonds, including tax exempt and taxable securities, which totaled $6.21 billion and $6.39 billion as of December 31, 2022 and 2021, respectively. The balance as of December 31, 2022 includes $4.64 billion of tax exempt securities. The municipal bond portfolio includes general obligations of state and local issuers and revenue bonds (including pre-refunded bonds, which are bonds for which an irrevocable trust has been established to fund the remaining payments of principal and interest).


Principal geographic distribution of municipal bond issuers exceeding 5% of the portfolio
	As of December 31,
(% of municipal bond portfolio carrying value)	2022		2021
Texas	9.6	%	8.7	%
California	8.5		11.8
New York	6.7		5.1
Illinois	5.6		4.1
Pennsylvania	5.4		5.4
Florida	5.0		4.2

Short-term investments Short-term investments, including money market funds, commercial paper, U.S. Treasury bills and other short-term investments, are carried at fair value. As of December 31, 2022 and 2021, the fair value of short-term investments totaled $4.17 billion and $4.01 billion, respectively.

Other investments Other investments primarily consist of bank loans, real estate, policy loans and derivatives. Bank loans are primarily senior secured corporate loans and are carried at amortized cost, net. Policy loans are carried at unpaid principal balances. Real estate is carried at cost less accumulated depreciation. Derivatives are carried at fair value.


Other investments by asset type
	As of December 31,
($ in millions)	2022		2021
Bank loans, net	$	686	$	1,574
Real estate	813		809
Policy loans	120		148
Derivatives	1		12
Other	108		113
Total	$	1,728	$	2,656

Concentration of credit risk As of December 31, 2022, the Company is not exposed to any credit concentration risk of a single issuer and its affiliates greater than 10% of the Company’s shareholders’ equity, other than the U.S. government and its agencies.

Securities loaned The Company’s business activities include securities lending programs with third parties, mostly large banks. As of December 31, 2022 and 2021, fixed income and equity securities with a carrying value of $1.93 billion and $1.38 billion, respectively, were on loan under these agreements. Interest income on collateral, net of fees, was $6 million, $1 million and $2 million in 2022, 2021 and 2020, respectively.

Other investment information Included in fixed income securities are below investment grade assets totaling $4.10 billion and $7.50 billion as of December 31, 2022 and 2021, respectively.

As of December 31, 2022, fixed income securities and short-term investments with a carrying value of $198 million were on deposit with regulatory authorities as required by law.

As of December 31, 2022, the carrying value of fixed income securities and other investments that were non-income producing was $66 million.

Portfolio monitoring and credit losses

Fixed income securities The Company has a comprehensive portfolio monitoring process to identify and evaluate each fixed income security that may require a credit loss allowance.

For each fixed income security in an unrealized loss position, the Company assesses whether management with the appropriate authority has made the decision to sell or whether it is more likely than not the Company will be required to sell the security before recovery of the amortized cost basis for reasons such as liquidity, contractual or regulatory purposes. If a security meets either of these criteria, any existing credit loss allowance would be written-off against the amortized cost basis of the asset along with any remaining unrealized losses, with incremental losses recorded in earnings.

If the Company has not made the decision to sell the fixed income security and it is not more likely than not the Company will be required to sell the fixed income security before recovery of its amortized cost basis, the Company evaluates whether it expects to receive cash flows sufficient to recover the entire amortized cost basis of the security. The Company calculates the estimated recovery value based on the best estimate of future cash flows considering past events, current conditions and reasonable and supportable forecasts. The estimated future cash flows are discounted at the security’s current effective rate and is compared to the amortized cost of the security.

The determination of cash flow estimates is inherently subjective, and methodologies may vary depending on facts and circumstances specific to the security. All reasonably available information relevant to the collectability of the security is considered when developing the estimate of cash flows expected to be collected. That information generally includes, but is not limited to, the remaining payment terms of the security, prepayment speeds, the financial condition and future earnings potential of the issue or issuer, expected defaults, expected recoveries, the value of underlying collateral, origination vintage year, geographic concentration of underlying collateral, available reserves or escrows, current subordination levels, third-party guarantees and other credit enhancements. Other information, such as industry analyst reports and forecasts, credit ratings, financial condition of the bond insurer for insured fixed income securities, and other market data relevant to the realizability of contractual cash flows, may also be considered. The estimated fair value of collateral will be used to estimate recovery value if the Company determines that the security is dependent on the liquidation of collateral for ultimate settlement.

If the Company does not expect to receive cash flows sufficient to recover the entire amortized cost basis of the fixed income security, a credit loss allowance is recorded in earnings for the shortfall in expected cash flows; however, the amortized cost, net of the credit loss allowance, may not be lower than the fair value of the security. The portion of the unrealized loss related to factors other than credit remains classified in AOCI. If the Company determines that the fixed income security does not have sufficient cash flow or other information to estimate a recovery value for the security, the Company may conclude that the entire decline in fair value is deemed to be credit related and the loss is recorded in earnings.

When a security is sold or otherwise disposed or when the security is deemed uncollectible and written off, the Company removes amounts previously recognized in the credit loss allowance. Recoveries after write-offs are recognized when received. Accrued interest excluded from the amortized cost of fixed income securities totaled $389 million and $311 million as of December 31, 2022, and 2021, respectively, and is reported within the accrued investment income line of the Consolidated Statements of Financial Position. The Company monitors accrued interest and writes off amounts when they are not expected to be received.

The Company’s portfolio monitoring process includes a quarterly review of all securities to identify instances where the fair value of a security compared to its amortized cost is below internally established thresholds. The process also includes the monitoring of other credit loss indicators such as ratings, ratings downgrades and payment defaults. The securities identified, in addition to other securities for which the Company may have a concern, are evaluated for potential credit losses using all reasonably available information relevant to the collectability or recovery of the security. Inherent in the Company’s evaluation of credit losses for these securities are assumptions and estimates about the financial condition and future earnings potential of the issue or issuer. Some of the factors that may be considered in evaluating whether a decline in fair value requires a credit loss allowance are: 1) the financial condition, near-term and long-term prospects of the issue or issuer, including relevant industry specific market conditions and trends, geographic location and implications of rating agency actions and offering prices; 2) the specific reasons that a security is in an unrealized loss position, including overall market conditions which could affect liquidity; and 3) the extent to which the fair value has been less than amortized cost.


Rollforward of credit loss allowance for fixed income securities
	For the years ended December 31,
($ in millions)	2022		2021		2020
Beginning balance	$	(6)	$	(2)	$	—
Credit losses on securities for which credit losses not previously reported	(1)		(5)		(2)
Net increases related to credit losses previously reported	(6)		1		—
Reduction of allowance related to sales	—		—		—
Write-offs	—		—		—
Ending balance	$	(13)	$	(6)	$	(2)

Components of credit loss allowance
Corporate bonds	$	(11)	$	(6)	$	(1)
ABS	(2)		—		(1)
Total	$	(13)	$	(6)	$	(2)


Gross unrealized losses and fair value by type and length of time held in a continuous unrealized loss position

	Less than 12 months					12 months or more
($ in millions)	Number of issues	Fair value		Unrealized losses		Number of issues	Fair value		Unrealized losses		Total unrealized losses
December 31, 2022
Fixed income securities
U.S. government and agencies	112	$	4,900	$	(138)	75	$	2,393	$	(93)	$	(231)
Municipal	3,015	3,944		(215)		507	740		(111)		(326)
Corporate	2,085	18,072		(1,389)		845	6,105		(956)		(2,345)
Foreign government	74	739		(22)		42	200		(18)		(40)
ABS	194	874		(27)		83	109		(8)		(35)
Total fixed income securities	5,480	$	28,529	$	(1,791)	1,552	$	9,547	$	(1,186)	$	(2,977)
Investment grade fixed income securities	4,959	$	25,487	$	(1,409)	1,437	$	8,791	$	(1,009)	$	(2,418)
Below investment grade fixed income securities	521	3,042		(382)		115	756		(177)		(559)
Total fixed income securities	5,480	$	28,529	$	(1,791)	1,552	$	9,547	$	(1,186)	$	(2,977)

December 31, 2021
Fixed income securities
U.S. government and agencies	112	$	5,451	$	(24)	4	$	72	$	(2)	$	(26)
Municipal	767	1,213		(15)		2	14		(1)		(16)
Corporate	1,197	9,725		(176)		22	130		(16)		(192)
Foreign government	51	415		(6)		4	3		—		(6)
ABS	80	500		(2)		53	8		—		(2)
Total fixed income securities	2,207	$	17,304	$	(223)	85	$	227	$	(19)	$	(242)
Investment grade fixed income securities	1,993	$	15,391	$	(188)	71	$	183	$	(8)	$	(196)
Below investment grade fixed income securities	214	1,913		(35)		14	44		(11)		(46)
Total fixed income securities	2,207	$	17,304	$	(223)	85	$	227	$	(19)	$	(242)


Gross unrealized losses by unrealized loss position and credit quality as of December 31, 2022
($ in millions)	Investment grade		Below investment grade		Total
Fixed income securities with unrealized loss position less than 20% of amortized cost, net (1) (2)	$	(2,058)	$	(388)	$	(2,446)
Fixed income securities with unrealized loss position greater than or equal to 20% of amortized cost, net (3) (4)	(360)		(171)		(531)
Total unrealized losses	$	(2,418)	$	(559)	$	(2,977)

(1)Below investment grade fixed income securities include $302 million that have been in an unrealized loss position for less than twelve months.

(2)Related to securities with an unrealized loss position less than 20% of amortized cost, net, the degree of which suggests that these securities do not pose a high risk of having credit losses.

(3)No below investment grade fixed income securities have been in an unrealized loss position for a period of twelve or more consecutive months.

(4)Evaluated based on factors such as discounted cash flows and the financial condition and near-term and long-term prospects of the issue or issuer and were determined to have adequate resources to fulfill contractual obligations.

Investment grade is defined as a security having a National Association of Insurance Commissioners (“NAIC”) designation of 1 or 2, which is comparable to a rating of Aaa, Aa, A or Baa from Moody’s Investors Service (“Moody’s”), a rating of AAA, AA, A or BBB from S&P Global Ratings (“S&P”), a comparable rating from another nationally recognized rating agency, or a comparable internal rating if an externally provided rating is not available. Market prices for certain securities may have credit spreads which imply higher or lower credit quality than the current third-party rating. Unrealized losses on investment grade securities are principally related to an increase in market yields which may include increased risk-free interest rates or wider credit spreads since the time of initial purchase. The unrealized losses are expected to reverse as the securities approach maturity.

ABS in an unrealized loss position were evaluated based on actual and projected collateral losses relative to the securities’ positions in the respective securitization trusts, security specific expectations of cash flows, and credit ratings. This evaluation also takes into consideration credit enhancement, measured in terms of (i) subordination from other classes of securities in the trust that are contractually obligated to absorb losses before the class of security the Company owns, and (ii) the expected impact of other structural features embedded in the securitization trust beneficial to the class of securities the Company owns, such as overcollateralization and excess spread. Municipal bonds in an unrealized loss position were evaluated based on the underlying credit quality of the primary obligor, obligation type and quality of the underlying assets.

As of December 31, 2022, the Company has not made the decision to sell and it is not more likely than not the Company will be required to sell fixed income securities with unrealized losses before recovery of the amortized cost basis.

Loans The Company establishes a credit loss allowance for mortgage loans and bank loans when they are originated or purchased, and for unfunded commitments unless they are unconditionally cancellable by the Company. The Company uses a probability of default and loss given default model for mortgage loans and bank loans to estimate current expected credit losses that considers all relevant information available including past events, current conditions, and reasonable and supportable forecasts over the life of an asset. The Company also considers such factors as historical losses, expected prepayments and various economic factors. For mortgage loans the Company considers origination vintage year and property level information such as debt service coverage, property type, property location and collateral value. For bank loans the Company considers the credit rating of the borrower, credit spreads and type of loan. After the reasonable and supportable forecast period, the Company’s model reverts to historical loss trends.

Loans are evaluated on a pooled basis when they share similar risk characteristics. The Company monitors loans through a quarterly credit monitoring process to determine when they no longer share similar risk characteristics and are to be evaluated individually when estimating credit losses.

Loans are written off against their corresponding allowances when there is no reasonable expectation of recovery. If a loan recovers after a write-off, the estimate of expected credit losses includes the expected recovery.

Accrual of income is suspended for loans that are in default or when full and timely collection of principal and interest payments is not probable. Accrued income receivable is monitored for recoverability and when not expected to be collected is written off through net investment income. Cash receipts on loans on non-accrual status are generally recorded as a reduction of amortized cost.

Accrued interest is excluded from the amortized cost of loans and is reported within the accrued investment income line of the Consolidated Statements of Financial Position.


Accrued interest
	As of December 31,
($ in millions)	2022		2021
Mortgage loans	$	3	$	2
Bank Loans	3		4

Mortgage loans When it is determined a mortgage loan shall be evaluated individually, the Company uses various methods to estimate credit losses on individual loans such as using collateral value less estimated costs to sell where applicable, including when foreclosure is probable or when repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. When collateral value is used, the mortgage loans may not have a credit loss allowance when the fair value of the collateral exceeds the loan’s

amortized cost. An alternative approach may be utilized to estimate credit losses using the present value of the loan’s expected future repayment cash flows discounted at the loan’s current effective interest rate.

Individual loan credit loss allowances are adjusted for subsequent changes in the fair value of the collateral less costs to sell, when applicable, or present value of the loan’s expected future repayment cash flows.

Debt service coverage ratio is considered a key credit quality indicator when mortgage loan credit loss allowances are estimated. Debt service coverage ratio represents the amount of estimated cash flow from the property available to the borrower to meet principal and interest payment obligations. Debt service coverage ratio estimates are updated annually or more frequently if conditions are warranted based on the Company’s credit monitoring process.


Mortgage loans amortized cost by debt service coverage ratio distribution and year of origination
	December 31, 2022														December 31, 2021
($ in millions)	2017 and prior		2018		2019		2020		2021		Current		Total		Total
Below 1.0	$	—	$	—	$	—	$	—	$	—	$	18	$	18	$	—
1.0 - 1.25	10		—		—		10		—		22		42		46
1.26 - 1.50	37		5		102		—		—		7		151		160
Above 1.50	36		73		136		42		217		54		558		621
Amortized cost before allowance	$	83	$	78	$	238	$	52	$	217	$	101	$	769	$	827
Allowance													(7)		(6)
Amortized cost, net													$	762	$	821

Mortgage loans with a debt service coverage ratio below 1.0 that are not considered impaired primarily relate to situations where the borrower has the financial capacity to fund the revenue shortfalls from the properties for the foreseeable term, the decrease in cash flows from the properties is considered

temporary, or there are other risk mitigating factors such as additional collateral, escrow balances or borrower guarantees. Payments on all mortgage loans were current as of December 31, 2022, 2021 and 2020.


Rollforward of credit loss allowance for mortgage loans
	For the years ended December 31,
($ in millions)	2022		2021		2020
Beginning balance	$	(6)	$	(67)	$	(3)
Cumulative effect of change in accounting principle	—		—		(42)
Net (increases) decreases related to credit losses	(1)		40		(39)
Reduction of allowance related to sales	—		21		17
Write-offs	—		—		—
Ending balance (1)	$	(7)	$	(6)	$	(67)

(1)Includes $59 million of credit loss allowance for mortgage loans that are classified as held for sale as of December 31, 2020.

Bank loans When it is determined a bank loan shall be evaluated individually, the Company uses various methods to estimate credit losses on individual loans such as the present value of the loan’s expected future repayment cash flows discounted at the loan’s current effective interest rate.

Credit ratings of the borrower are considered a key credit quality indicator when bank loan credit loss allowances are estimated. The ratings are updated quarterly and are either received from a nationally recognized rating agency or a comparable internal rating is derived if an externally provided rating is not available. The year of origination is determined to be the year in which the asset is acquired.


Bank loans amortized cost by credit rating and year of origination
($ in millions)	December 31, 2022														December 31, 2021
	2017 and prior		2018		2019		2020		2021		Current		Total		Total
NAIC 2 / BBB	$	—	$	—	$	6	$	6	$	37	$	5	$	54	$	86
NAIC 3 / BB	6		—		5		2		239		14		266		656
NAIC 4 / B	7		16		17		15		241		33		329		768
NAIC 5-6 / CCC and below	21		10		36		8		14		5		94		125
Amortized cost before allowance	$	34	$	26	$	64	$	31	$	531	$	57	$	743	$	1,635
Allowance													(57)		(61)
Amortized cost, net													$	686	$	1,574


Rollforward of credit loss allowance for bank loans
	For the years ended December 31,
($ in millions)	2022		2021		2020
Beginning balance	$	(61)	$	(67)	$	—
Cumulative effect of change in accounting principle	—		—		(53)
Net decreases related to credit losses	(26)		(15)		(28)
Reduction of allowance related to sales	30		21		9
Write-offs	—		—		5
Ending balance (1)	$	(57)	$	(61)	$	(67)

(1)Includes $16 million of credit loss allowance for bank loans that are classified as held for sale as of December 31, 2020.

Fair Value of Assets and Liabilities

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities


Note 6			Fair Value of Assets and Liabilities

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The hierarchy for inputs used in determining fair value maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Assets and liabilities recorded on the Consolidated Statements of Financial Position at fair value are categorized in the fair value hierarchy based on the observability of inputs to the valuation techniques as follows:

Level 1: Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company can access.

Level 2: Assets and liabilities whose values are based on the following:

(a)Quoted prices for similar assets or liabilities in active markets;

(b)Quoted prices for identical or similar assets or liabilities in markets that are not active; or

(c)Valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability.

Level 3: Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Unobservable inputs reflect the Company’s estimates of the assumptions that market participants would use in valuing the assets and liabilities.

The availability of observable inputs varies by instrument. In situations where fair value is based on internally developed pricing models or inputs that are unobservable in the market, the determination of fair value requires more judgment. The degree of judgment exercised by the Company in determining fair value is typically greatest for instruments categorized in Level 3. In many instances, valuation inputs used to measure fair value fall into different levels of the fair value hierarchy. The category level in the fair value hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company uses prices and inputs that are current as of the measurement date, including during periods of market disruption. In periods of market disruption, the ability to observe prices and inputs may be reduced for many instruments.

The Company is responsible for the determination of fair value and the supporting assumptions and methodologies. The Company gains assurance that assets and liabilities are appropriately valued through the execution of various processes and controls designed to ensure the overall reasonableness and consistent application of valuation methodologies, including inputs and assumptions, and compliance with accounting standards. For fair values received from third parties or internally estimated, the Company’s processes and controls are designed to ensure that the valuation methodologies are appropriate and consistently applied, the inputs and assumptions are reasonable and consistent with the objective of determining fair value, and the fair values are accurately recorded. For example, on a continuing basis, the Company assesses the reasonableness of

individual fair values that have stale security prices or that exceed certain thresholds as compared to previous fair values received from valuation service providers or brokers or derived from internal models. The Company performs procedures to understand and assess the methodologies, processes and controls of valuation service providers. In addition, the Company may validate the reasonableness of fair values by comparing information obtained from valuation service providers or brokers to other third-party valuation sources for selected securities. The Company performs ongoing price validation procedures such as back-testing of actual sales, which corroborate the various inputs used in internal models to market observable data. When fair value determinations are expected to be more variable, the Company validates them through reviews by members of management who have relevant expertise and who are independent of those charged with executing investment transactions.

The Company has two types of situations where investments are classified as Level 3 in the fair value hierarchy:

(1)Specific inputs significant to the fair value estimation models are not market observable. This primarily occurs in the Company’s use of broker quotes to value certain securities where the inputs have not been corroborated to be market observable, and the use of valuation models that use significant non-market observable inputs.

(2)Quotes continue to be received from independent third-party valuation service providers and all significant inputs are market observable; however, there has been a significant decrease in the volume and level of activity for the asset when compared to normal market activity such that the degree of market observability has declined to a point where categorization as a Level 3 measurement is considered appropriate. The indicators considered in determining whether a significant decrease in the volume and level of activity for a specific asset has occurred include the level of new issuances in the primary market, trading volume in the secondary market, the level of credit spreads over historical levels, applicable bid-ask spreads, and price consensus among market participants and other pricing sources.

Certain assets are not carried at fair value on a recurring basis, including mortgage loans, bank loans and policy loans and are only included in the fair value hierarchy disclosure when the individual investment is reported at fair value.

In determining fair value, the Company principally uses the market approach which generally utilizes market transaction data for the same or similar instruments. To a lesser extent, the Company uses the income approach which involves determining fair values from discounted cash flow methodologies. For the majority of Level 2 and Level 3 valuations, a combination of the market and income approaches is used.

Summary of significant inputs and valuation techniques for Level 2 and Level 3 assets and liabilities measured at fair value on a recurring basis

Level 2 measurements

•Fixed income securities:

U.S. government and agencies, municipal, corporate - public and foreign government: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads.

Corporate - privately placed: Privately placed are valued using a discounted cash flow model that is widely accepted in the financial services industry and uses market observable inputs and inputs derived principally from, or corroborated by, observable market data. The primary inputs to the discounted cash flow model include an interest rate yield curve, as well as published credit spreads for similar assets in markets that are not active that incorporate the credit quality and industry sector of the issuer.

Corporate - privately placed also includes redeemable preferred stock that are valued using quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, underlying stock prices and credit spreads.

ABS: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, collateral performance, and credit spreads. Certain ABS are valued based on non-binding broker quotes whose inputs have been corroborated to be market observable. Residential mortgage-backed securities (“MBS”), included in ABS, use prepayment speeds as a primary input for valuation.

•Equity securities: The primary inputs to the valuation include quoted prices or quoted net asset values for identical or similar assets in markets that are not active.

•Short-term: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields and credit spreads.

•Other investments: Free-standing exchange listed derivatives that are not actively traded are valued based on quoted prices for identical instruments in markets that are not active.

Over-the-counter (“OTC”) derivatives, including interest rate swaps, foreign currency swaps, total return swaps, foreign exchange forward contracts, certain options and certain credit default swaps, are valued using models that rely on inputs such as interest rate yield curves, implied volatilities, index price levels, currency rates, and credit spreads that are observable for substantially the full term of the contract. The valuation techniques underlying the

models are widely accepted in the financial services industry and do not involve significant judgment.

Level 3 measurements

•Fixed income securities:

Municipal: Comprise municipal bonds that are not rated by third-party credit rating agencies. The primary inputs to the valuation of these municipal bonds include quoted prices for identical or similar assets that are not market observable, contractual cash flows, benchmark yields and credit spreads. Also included are municipal bonds valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable and municipal bonds in default valued based on the present value of expected cash flows.

Corporate - public and privately placed and ABS: Primarily valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. Other inputs for corporate fixed income securities include an interest rate yield curve, as well as published credit spreads for similar assets that incorporate the credit quality and industry sector of the issuer.

•Equity securities: The primary inputs to the valuation include quoted prices or quoted net asset values for identical or similar assets that are not market observable.

•Short-term: For certain short-term investments, amortized cost is used as the best estimate of fair value.

•Other investments: Certain OTC derivatives, such as interest rate caps, certain credit default swaps and certain options (including swaptions), are valued using models that are widely accepted in the financial services industry. These are categorized as Level 3 as a result of the significance of non-market observable inputs such as volatility. Other primary inputs include interest rate yield curves and credit spreads and quoted prices for identical or similar assets in markets that exhibit less liquidity relative to those markets supporting Level 2 fair value measurements.

•Other assets: Includes the contingent consideration provision in the sale agreement for ALIC which meets the definition of a derivative. This derivative is valued internally using a model that includes stochastically determined cash flows and inputs that include spot and forward interest rates, volatility, corporate credit spreads and a liquidity discount. This derivative is categorized as Level 3 due to the significance of non-market observable inputs.

•Assets held for sale: Comprise municipal, corporate and ABS fixed income securities and equity securities. The valuation is based on the respective asset type as described above.

•Liabilities held for sale: Comprise derivatives embedded in certain life and annuity contracts which are valued internally using models widely accepted in the financial services industry that determine a single best estimate of fair value for the embedded derivatives within a block of contractholder liabilities. The models primarily use stochastically determined cash flows based on the contractual elements of embedded derivatives, projected option cost and applicable market data, such as interest rate yield curves and equity index volatility assumptions. These are categorized as Level 3 as a result of the significance of non-market observable inputs.

Assets measured at fair value on a non-recurring basis

Comprise long-lived assets to be disposed of by sale, including real estate, that are written down to fair value less costs to sell.

Investments excluded from the fair value hierarchy

Limited partnerships carried at fair value, which do not have readily determinable fair values, use NAV provided by the investees and are excluded from the fair value hierarchy. These investments are generally not redeemable by the investees and generally cannot be sold without approval of the general partner. The Company receives distributions of income and proceeds from the liquidation of the underlying assets of the investees, which usually takes place in years 4-9 of the typical contractual life of 10-12 years. As of December 31, 2022, the Company has commitments to invest $214 million in these limited partnership interests.


Assets and liabilities measured at fair value
	As of December 31, 2022
($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Counterparty and cash collateral netting			Total
Assets
Fixed income securities:
U.S. government and agencies	$	7,878		$	20		$	—					$	7,898
Municipal	—			6,189			21						6,210
Corporate - public	—			18,547			69						18,616
Corporate - privately placed	—			7,592			55						7,647
Foreign government	—			957			—						957
ABS	—			1,129			28						1,157
Total fixed income securities	7,878			34,434			173						42,485
Equity securities	3,936			298			333						4,567
Short-term investments	508			3,659			6						4,173
Other investments	—			23			3			$	(22)		4
Other assets	3			—			103						106
Total recurring basis assets	12,325			38,414			618			(22)			51,335
Non-recurring basis	—			—			23						23
Total assets at fair value	$	12,325		$	38,414		$	641		$	(22)		$	51,358
% of total assets at fair value	24.0		%	74.8		%	1.2		%	—		%	100.0		%

Investments reported at NAV													1,246
Total													$	52,604
Liabilities
Other liabilities	$	(1)		$	(25)		$	—		$	21		$	(5)
Total recurring basis liabilities	(1)			(25)			—			21			(5)
Total liabilities at fair value	$	(1)		$	(25)		$	—		$	21		$	(5)
% of total liabilities at fair value	20.0		%	500.0		%	—		%	(420.0)		%	100.0		%


Assets and liabilities measured at fair value
	As of December 31, 2021
($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Counterparty and cash collateral netting			Total
Assets
Fixed income securities:
U.S. government and agencies	$	6,247		$	26		$	—					$	6,273
Municipal	—			6,375			18						6,393
Corporate - public	—			16,569			20						16,589
Corporate - privately placed	—			10,675			66						10,741
Foreign government	—			985			—						985
ABS	—			1,115			40						1,155
Total fixed income securities	6,247			35,745			144						42,136
Equity securities	6,312			400			349						7,061
Short-term investments	1,140			2,864			5						4,009
Other investments	—			34			2			$	(22)		14
Other assets	1			—			65						66
Total recurring basis assets	13,700			39,043			565			(22)			53,286
Non-recurring basis	—			—			32						32
Total assets at fair value	$	13,700		$	39,043		$	597		$	(22)		$	53,318
% of total assets at fair value	25.7		%	73.2		%	1.1		%	—		%	100.0		%

Investments reported at NAV													1,531
Total													$	54,849
Liabilities
Other liabilities	$	(3)		$	(12)		$	—		$	7		$	(8)
Total recurring basis liabilities	(3)			(12)			—			7			(8)
Total liabilities at fair value	$	(3)		$	(12)		$	—		$	7		$	(8)
% of total liabilities at fair value	37.5		%	150.0		%	—		%	(87.5)		%	100.0		%

As of December 31, 2022 and 2021, Level 3 fair value measurements of fixed income securities total $173 million and $144 million, respectively, and include $70 million and $41 million, respectively, of securities valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable and $21 million and $16 million, respectively, of municipal fixed income securities that are not rated by third-party credit rating agencies. As the Company does not develop the Level 3 fair value unobservable

inputs for these fixed income securities, they are not included in the table above. However, an increase (decrease) in credit spreads for fixed income securities valued based on non-binding broker quotes would result in a lower (higher) fair value, and an increase (decrease) in the credit rating of municipal bonds that are not rated by third-party credit rating agencies would result in a higher (lower) fair value.


Rollforward of Level 3 assets and liabilities held at fair value during the year ended December 31, 2022
	Balance as of December 31, 2021		Total gains (losses) included in:				Transfers																Balance as of December 31, 2022
($ in millions)			Net income		OCI		Into Level 3		Out of Level 3		Purchases			Sales			Issues			Settlements
Assets
Fixed income securities:
Municipal	$	18	$	—	$	1	$	2	$	—		$	2		$	—		$	—		$	(2)	$	21
Corporate - public	20		—		(5)		—		—			66			(10)			—			(2)		69
Corporate - privately placed	66		19		2		—		—			34			(65)			—			(1)		55
ABS	40		1		—		—		(28)			17			—			—			(2)		28
Total fixed income securities	144		20		(2)		2		(28)			119			(75)			—			(7)		173
Equity securities	349		16		—		—		—			13			(45)			—			—		333
Short-term investments	5		—		—		—		—			23			—			—			(22)		6
Other investments	2		2		—		—		—			—			(1)			—			—		3
Other assets	65		38		—		—		—			—			—			—			—		103

Total recurring Level 3 assets	565		76		(2)		2		(28)			155			(121)			—			(29)		618
Liabilities

Total recurring Level 3 liabilities	$	—	$	—	$	—	$	—	$	—		$	—		$	—		$	—		$	—	$	—


Rollforward of Level 3 assets and liabilities held at fair value during the year ended December 31, 2021
	Balance as of December 31, 2020		Total gains (losses) included in:				Transfers													Balance as of December 31, 2021
($ in millions)			Net income		OCI		Into Level 3		Out of Level 3		Purchases	Sales		Issues		Settlements
Assets
Fixed income securities:
Municipal	$	17	$	—	$	—	$	1	$	—		$	3	$	—	$	—	$	(3)	$	18
Corporate - public	67		1		(1)		—		—			13		(53)		—		—		20
Corporate - privately placed	63		(2)		3		10		—			6		(23)		—		(5)		66
ABS	79		—		1		4		(32)			47		(5)		—		(54)		40
Total fixed income securities	226		(1)		3		15		(32)			69		(81)		—		(62)		144
Equity securities	304		61		—		—		—			43		(160)		—		—		349
Short-term investments	35		—		—		—		—			5		—		—		(35)		5
Other investments	—		—		—		—		—			3		(1)		—		—		2
Other assets	—		65		—		—		—			—		—		—		—		65
Assets held for sale	267		3		(1)		17		(13)			4		(163)		—		(6)		—
Total recurring Level 3 assets	832		128		2		32		(45)			124		(405)		—		(103)		565
Liabilities
Liabilities held for sale	(516)		35		—		—		—			—		492		(28)		17		—
Total recurring Level 3 liabilities	$	(516)	$	35	$	—	$	—	$	—		$	—	$	492	$	(28)	$	17	$	—


Rollforward of Level 3 assets and liabilities held at fair value during the year ended December 31, 2020
	Balance as of December 31, 2019		Total gains (losses) included in:				Transfers																Balance as of December 31, 2020
($ in millions)			Net income		OCI		Into Level 3		Out of Level 3		Purchases			Sales			Issues			Settlements
Assets
Fixed income securities:
Municipal	$	22	$	—	$	—	$	—	$	—		$	—		$	(3)		$	—		$	(2)	$	17
Corporate - public	36		—		1		1		—			48			(19)			—			—		67
Corporate - privately placed	32		—		(5)		21		—			17			(2)			—			—		63
ABS	84		(1)		—		54		(49)			59			(26)			—			(42)		79
Total fixed income securities	174		(1)		(4)		76		(49)			124			(50)			—			(44)		226
Equity securities	255		—		—		—		—			57			(8)			—			—		304
Short-term investments	25		—		—		—		(25)			35			—			—			—		35
Assets held for sale	284		1		(8)		52		(42)			24			(37)			—			(7)		267
Total recurring Level 3 assets	738		—		(12)		128		(116)			240			(95)			—			(51)		832
Liabilities
Liabilities held for sale	(462)		(43)		—		—		—			—			—			(34)			23		(516)
Total recurring Level 3 liabilities	$	(462)	$	(43)	$	—	$	—	$	—		$	—		$	—		$	(34)		$	23	$	(516)


Total Level 3 gains (losses) included in net income
	For the years ended December 31,
($ in millions)	2022		2021		2020
Net investment income	$	15	$	1	$	(16)
Net gains (losses) on investments and derivatives	61		124		15

Transfers into Level 3 during 2022, 2021 and 2020 included situations where a quote was not provided by the Company’s independent third-party valuation service provider and as a result the price was stale or had been replaced with a broker quote where the inputs had not been corroborated to be market observable resulting in the security being classified as Level 3.

Transfers out of Level 3 during 2022, 2021 and 2020 included situations where a broker quote was used in the prior period and a quote became available from the Company’s independent third-party valuation service provider in the current period. A quote utilizing the new pricing source was not available as of the prior period, and any gains or losses related to the change in valuation source for individual securities were not significant.


Valuation changes included in net income and OCI for Level 3 assets and liabilities held as of December 31,
($ in millions)	2022		2021		2020
Assets
Fixed income securities:

Corporate - public	$	—	$	—	$	(1)
Corporate - privately placed	1		(2)		—

Total fixed income securities	1		(2)		(1)
Equity securities	14		28		(1)

Other investments	2		—		—
Other assets	38		65		—
Total recurring Level 3 assets	$	55	$	91	$	(2)
Liabilities
Liabilities held for sale	$	—	$	—	$	(43)
Total recurring Level 3 liabilities	—		—		(43)
Total included in net income	$	55	$	91	$	(45)

Components of net income
Net investment income	$	14	$	1	$	(16)
Net gains (losses) on investments and derivatives	41		90		14
Total included in net income	$	55	$	91	$	(2)

Assets
Municipal	$	1	$	—	$	—
Corporate - public	(5)		—		1
Corporate - privately placed	—		3		(5)

Assets held for sale	—		—		(5)
Changes in unrealized net capital gains and losses reported in OCI	$	(4)	$	3	$	(9)


Financial instruments not carried at fair value
($ in millions)		December 31, 2022				December 31, 2021
Financial assets	Fair value level	Amortized cost, net		Fair value		Amortized cost, net		Fair value
Mortgage loans	Level 3	$	762	$	700	$	821	$	853
Bank loans	Level 3	686		686		1,574		1,634

Financial liabilities	Fair value level	Carrying value (1)		Fair value		Carrying value (1)		Fair value
Contractholder funds on investment contracts	Level 3	$	50	$	50	$	55	$	55
Debt	Level 2	7,964		7,449		7,976		9,150
Liability for collateral	Level 2	2,011		2,011		1,444		1,444

(1)Represents the amounts reported on the Consolidated Statements of Financial Position.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments and Off-balance Sheet Financial Instruments

12 Months Ended

Dec. 31, 2022

Derivative Financial Instruments and Off-balance sheet Financial Instruments

Derivative Financial Instruments and Off-balance Sheet Financial Instruments


Note 7			Derivative Financial Instruments and Off-balance Sheet Financial Instruments

The Company uses derivatives for risk reduction and to increase investment portfolio returns through asset replication. Risk reduction activity is focused on managing the risks with certain assets and liabilities arising from the potential adverse impacts from changes in risk-free interest rates, changes in equity market valuations, increases in credit spreads and foreign currency fluctuations.

Asset replication refers to the “synthetic” creation of assets through the use of derivatives. The Company replicates fixed income securities using a combination of a credit default swap, index total return swap, options, futures, or a foreign currency forward contract and one or more highly rated fixed income securities, primarily investment grade host bonds, to synthetically replicate the economic characteristics of one or more cash market securities. The Company replicates equity securities using futures, index total return swaps, and options to increase equity exposure.

Property-Liability may use interest rate swaps, swaptions, futures and options to manage the interest rate risks of existing investments. These instruments are utilized to change the duration of the portfolio in order to offset the economic effect that interest rates would otherwise have on the fair value of its fixed income securities. Fixed income index total return swaps are used to offset valuation losses in the fixed income portfolio during periods of declining market values. Credit default swaps are typically used to mitigate the credit risk within the Property-Liability fixed income portfolio. Equity index total return swaps, futures and options are used by Property-Liability to offset valuation losses in the equity portfolio during periods of declining equity market values. In addition, equity futures are used to hedge the market risk related to deferred compensation liability contracts. Forward contracts are primarily used by Property-Liability to hedge foreign currency risk associated with holding foreign currency denominated investments and foreign operations.

Prior to December 31, 2022, the Company also had derivatives embedded in non-derivative host contracts that are required to be separated from the host contracts and accounted for at fair value with changes in fair value of embedded derivatives reported in net income.

When derivatives meet specific criteria, they may be designated as accounting hedges and accounted for as fair value, cash flow, foreign currency fair value or foreign currency cash flow hedges.

The notional amounts specified in the contracts are used to calculate the exchange of contractual payments under the agreements and are generally not representative of the potential for gain or loss on these agreements. However, the notional amounts specified in credit default swaps where the Company has sold credit protection represent the maximum amount of potential loss, assuming no recoveries.

Fair value, which is equal to the carrying value, is the estimated amount that the Company would receive or pay to terminate the derivative contracts at the reporting date. The carrying value amounts for OTC derivatives are further adjusted for the effects, if any, of enforceable master netting agreements and are presented on a net basis, by counterparty agreement, in the Consolidated Statements of Financial Position.

For those derivatives which qualify and have been designated as fair value accounting hedges, net income includes the changes in the fair value of both the derivative instrument and the hedged risk. For cash flow hedges, gains and losses are amortized from AOCI and are reported in net income in the same period the forecasted transactions being hedged impact net income.

Non-hedge accounting is generally used for “portfolio” level hedging strategies where the terms of the individual hedged items do not meet the strict homogeneity requirements to permit the application of hedge accounting. For non-hedge derivatives, net income includes changes in fair value and accrued periodic settlements, when applicable. With the exception of non-hedge derivatives used for asset replication and non-hedge embedded derivatives, all of the Company’s derivatives are evaluated for their ongoing effectiveness as either accounting hedge or non-hedge derivative financial instruments on at least a quarterly basis.

In connection with the sale of ALIC and certain affiliates in 2021, the sale agreement includes a provision related to contingent consideration that may be earned over a ten-year period with the first potential payment date commencing on January 1, 2026 and a final potential payment date of January 1, 2035. The contingent consideration is determined annually based on the average 10-year Treasury rate over the preceding 3-year period compared to a designated rate. The contingent consideration meets the definition of a derivative and is accounted for on a fair value basis with periodic changes in fair value reflected in earnings.


Summary of the volume and fair value positions of derivative instruments as of December 31, 2022
		Volume (1)
($ in millions, except number of contracts)	Balance sheet location	Notional amount		Number of contracts	Fair value, net		Gross asset		Gross liability
Asset derivatives



Derivatives not designated as accounting hedging instruments
Interest rate contracts


Futures	Other assets	n/a		24,380	$	3	$	3	$	—
Equity and index contracts

Futures	Other assets	n/a		343	—		—		—



Foreign currency contracts
Foreign currency forwards	Other investments	$	354	n/a	1		14		(13)

Contingent consideration	Other assets	250		n/a	103		103		—
Credit default contracts
Credit default swaps – buying protection	Other investments	24		n/a	—		1		(1)




Total asset derivatives		$	628	24,723	$	107	$	121	$	(14)

Liability derivatives


Derivatives not designated as accounting hedging instruments
Interest rate contracts



Futures	Other liabilities & accrued expenses	n/a		1,624	$	—	$	—	$	—
Equity and index contracts

Futures	Other liabilities & accrued expenses	n/a		1,229	(1)		—		(1)



Foreign currency contracts
Foreign currency forwards	Other liabilities & accrued expenses	$	283	n/a	—		7		(7)

Credit default contracts
Credit default swaps – buying protection	Other liabilities & accrued expenses	525		n/a	(3)		1		(4)


Total liability derivatives		808		2,853	(4)		$	8	$	(12)
Total derivatives		$	1,436	27,576	$	103

(1)Volume for OTC and cleared derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a = not applicable)


Summary of the volume and fair value positions of derivative instruments as of December 31, 2021
		Volume (1)
($ in millions, except number of contracts)	Balance sheet location	Notional amount		Number of contracts	Fair value, net		Gross asset		Gross liability
Asset derivatives



Derivatives not designated as accounting hedging instruments
Interest rate contracts


Futures	Other assets	n/a		1,181	$	1	$	1	$	—
Equity and index contracts
Options	Other investments	n/a		61	5		5		—
Futures	Other assets	n/a		113	—		—		—



Foreign currency contracts
Foreign currency forwards	Other investments	$	2	n/a	—		—		—


Embedded derivative financial instruments	Other investments	750		n/a	—		—		—
Contingent consideration	Other assets	250		n/a	65		65		—
Credit default contracts
Credit default swaps – buying protection	Other investments	33		n/a	(1)		—		(1)
Credit default swaps – selling protection	Other investments	250		n/a	6		6		—




Total asset derivatives		$	1,285	1,355	$	76	$	77	$	(1)

Liability derivatives


Derivatives not designated as accounting hedging instruments
Interest rate contracts



Futures	Other liabilities & accrued expenses	n/a		36,668	$	(2)	$	—	$	(2)
Equity and index contracts

Futures	Other liabilities & accrued expenses	n/a		1,260	(1)		—		(1)



Foreign currency contracts
Foreign currency forwards	Other liabilities & accrued expenses	715		n/a	16		23		(7)


Credit default contracts
Credit default swaps – buying protection	Other liabilities & accrued expenses	70		n/a	(4)		—		(4)
Credit default swaps – selling protection	Other liabilities & accrued expenses	5		n/a	—		—		—


Total liability derivatives		790		37,928	9		$	23	$	(14)
Total derivatives		$	2,075	39,283	$	85


Gross and net amounts for OTC derivatives (1)
			Offsets
($ in millions)	Gross amount		Counter- party netting		Cash collateral (received) pledged		Net amount on balance sheet		Securities collateral (received) pledged		Net amount
December 31, 2022
Asset derivatives	$	23	$	(22)	$	—	$	1	$	—	$	1
Liability derivatives	(22)		22		(1)		(1)		—		(1)

December 31, 2021
Asset derivatives	$	23	$	(24)	$	2	$	1	$	—	$	1
Liability derivatives	(10)		24		(17)		(3)		—		(3)

(1)All OTC derivatives are subject to enforceable master netting agreements.


Gains (losses) from valuation and settlements reported on derivatives not designated as accounting hedges
($ in millions)	Net gains (losses) on investments and derivatives		Accident, health and other policy benefits		Operating costs and expenses		(Loss) income from discontinued operations		Total gain (loss) recognized in net income on derivatives
2022
Interest rate contracts	$	737	$	—	$	—	$	—	$	737
Equity and index contracts	94		—		(43)		—		51
Contingent consideration	—		—		38		—		38
Foreign currency contracts	47		—		(6)		—		41
Credit default contracts	(4)		—		—		—		(4)


Other contracts	—		—		(1)		—		(1)
Total	$	874	$	—	$	(12)	$	—	$	862

2021
Interest rate contracts	$	22	$	—	$	—	$	—	$	22
Equity and index contracts	(7)		27		45		—		65
Contingent consideration	—		—		—		65		65
Foreign currency contracts	32		—		—		—		32
Credit default contracts	7		—		—		—		7
Total return swaps - fixed income	4		—		—		—		4


Total	$	58	$	27	$	45	$	65	$	195

2020
Interest rate contracts	$	36	$	—	$	—	$	—	$	36
Equity and index contracts	15		—		29		—		44

Foreign currency contracts	(13)		—		—		—		(13)
Credit default contracts	6		—		—		—		6
Total return swaps - fixed income	1		—		—		—		1
Total return swaps - equity	4		—		—		—		4

Total	$	49	$	—	$	29	$	—	$	78

The Company manages its exposure to credit risk by utilizing highly rated counterparties, establishing risk control limits, executing legally enforceable master netting agreements (“MNAs”) and obtaining collateral where appropriate. The Company uses MNAs for OTC derivative transactions that permit either party to net payments due for transactions and collateral is either pledged or obtained when certain predetermined exposure limits are exceeded.


OTC cash and securities collateral pledged
($ in millions)	December 31, 2022
Pledged by the Company	$	11
Pledged to the Company (1)	12

(1)$10 million of collateral was posted under MNAs for contracts containing credit-risk-contingent provisions that are in a liability provision.

The Company has not incurred any losses on derivative financial instruments due to counterparty nonperformance. Other derivatives, including futures and certain option contracts, are traded on organized exchanges which require margin deposits and guarantee the execution of trades, thereby mitigating any potential credit risk.

Counterparty credit exposure represents the Company’s potential loss if all of the counterparties concurrently fail to perform under the contractual terms of the contracts and all collateral, if any, becomes worthless. This exposure is measured by the fair value of OTC derivative contracts with a positive fair value at the reporting date reduced by the effect, if any, of legally enforceable master netting agreements.


OTC derivatives counterparty credit exposure by counterparty credit rating
($ in millions)	December 31, 2022							December 31, 2021
Rating (1)	Number of counter-parties	Notional amount (2)		Credit exposure (2)		Exposure, net of collateral (2)		Number of counter-parties	Notional amount (2)		Credit exposure (2)		Exposure, net of collateral (2)
A+	1	$	128	$	5	$	—	1	$	199	$	7	$	—
A	1	192		7		—		1	367		9		—



Total	2	$	320	$	12	$	—	2	$	566	$	16	$	—

(1)Allstate uses the lower of S&P’s or Moody’s long-term debt issuer ratings.

(2)Only OTC derivatives with a net positive fair value are included for each counterparty.

For certain exchange traded and cleared derivatives, margin deposits are required as well as daily cash settlements of margin accounts.


Exchange traded and cleared margin deposits
($ in millions)	December 31, 2022
Pledged by the Company	$	177
Received by the Company	—

Market risk is the risk that the Company will incur losses due to adverse changes in market rates and prices. Market risk exists for all of the derivative financial instruments the Company currently holds, as these instruments may become less valuable due to adverse changes in market conditions. To limit this risk, the Company’s senior management has established risk control limits. In addition, changes in fair value of the derivative financial instruments that the Company uses for risk management purposes are generally offset by the change in the fair value or cash flows of the hedged risk component of the related assets, liabilities or forecasted transactions.

Certain of the Company’s derivative transactions contain credit-risk-contingent termination events and cross-default provisions. Credit-risk-contingent termination events allow the counterparties to terminate the derivative agreement or a specific trade on certain dates if AIC’s financial strength credit ratings by Moody’s or S&P fall below a certain level. Credit-risk-contingent cross-default provisions allow the counterparties to terminate the derivative agreement if the Company defaults by pre-determined threshold amounts on certain debt instruments.

The following table summarizes the fair value of derivative instruments with termination, cross-default or collateral credit-risk-contingent features that are in a liability position, as well as the fair value of assets and collateral that are netted against the liability in accordance with provisions within legally enforceable MNAs.



($ in millions)	December 31, 2022		December 31, 2021
Gross liability fair value of contracts containing credit-risk-contingent features	$	21	$	8
Gross asset fair value of contracts containing credit-risk-contingent features and subject to MNAs	(11)		(7)
Collateral posted under MNAs for contracts containing credit-risk-contingent features	(10)		—
Maximum amount of additional exposure for contracts with credit-risk-contingent features if all features were triggered concurrently	$	—	$	1

Credit derivatives - selling protection

A credit default swap (“CDS”) is a derivative instrument, representing an agreement between two parties to exchange the credit risk of a specified entity (or a group of entities), or an index based on the credit risk of a group of entities (all commonly referred to as the “reference entity” or a portfolio of “reference entities”), in return for a periodic premium. In selling protection, CDS are used to replicate fixed income securities and to complement the cash market when credit exposure to certain issuers is not available or when the derivative alternative is less expensive than the cash market alternative. CDS typically have a five-year term. As of December 31, 2022, there were no open CDS positions.


CDS notional amounts by credit rating and fair value of protection sold
	Notional amount
($ in millions)	AAA		AA		A		BBB		BB and lower		Total		Fair value







December 31, 2021
Single name
Corporate debt	$	—	$	—	$	—	$	—	$	5	$	5	$	—
Index
Corporate debt	2		4		46		190		8		250		6
Total	$	2	$	4	$	46	$	190	$	13	$	255	$	6

In selling protection with CDS, the Company sells credit protection on an identified single name or credit derivative index (“CDX”) that is generally investment grade, and in return receives periodic premiums through expiration or termination of the agreement. With single name CDS, this premium or credit spread generally corresponds to the difference between the yield on the reference entity’s public fixed maturity cash instruments and swap rates at the time the agreement is executed. CDX is utilized to take a position on multiple (generally 125) reference entities. Credit events are typically defined as bankruptcy, failure to pay, or restructuring, depending on the nature of the reference entities. If a credit event occurs, the Company settles with the counterparty, either through physical settlement or cash settlement. In a physical settlement, a reference asset is delivered by the buyer of protection to the Company, in exchange for cash payment at par, whereas in a cash settlement, the Company pays the difference between

par and the prescribed value of the reference asset. When a credit event occurs in a single name or FTD basket (for FTD, the first credit event occurring for any one name in the basket), the contract terminates at the time of settlement. For CDX, the reference entity’s name incurring the credit event is removed from the index while the contract continues until expiration. The maximum payout on a CDS is the contract notional amount. A physical settlement may afford the Company with recovery rights as the new owner of the asset.

The Company monitors risk associated with credit derivatives through individual name credit limits at both a credit derivative and a combined cash instrument/credit derivative level. The ratings of individual names for which protection has been sold are also monitored.

Off-balance sheet financial instruments

Commitments to invest, commitments to purchase private placement securities, commitments to fund loans, financial guarantees and credit guarantees have off-balance sheet risk because their contractual amounts are not recorded in the Company’s Consolidated Statements of Financial Position.


Contractual amounts of off-balance sheet financial instruments
	As of December 31,
($ in millions)	2022		2021
Commitments to invest in limited partnership interests	$	2,778	$	2,720
Private placement commitments	114		104
Other loan commitments	10		16

In the preceding table, the contractual amounts represent the amount at risk if the contract is fully drawn upon, the counterparty defaults and the value of any underlying security becomes worthless. Unless noted otherwise, the Company does not require collateral or other security to support off-balance sheet financial instruments with credit risk.

Commitments to invest in limited partnership interests represent agreements to acquire new or additional participation in certain limited partnership investments. The Company enters into these agreements in the normal course of business. Because the investments in limited partnerships are not actively traded, it is not practical to estimate the fair value of these commitments.

Private placement commitments represent commitments to purchase private placement debt and private equity securities at a future date. The Company enters into these agreements in the normal course of business. The fair value of the debt commitments generally cannot be estimated on the date the commitment is made as the terms and conditions of the underlying private placement securities are not yet final. Because the private equity securities are not actively traded, it is not practical to estimate fair value of the commitments.

Other loan commitments are agreements to lend to a borrower provided there is no violation of any condition established in the contract. The Company enters into these agreements to commit to future loan fundings at predetermined interest rates. Unless unconditionally cancellable, the Company recognizes a credit loss allowance on such commitments. Commitments have either fixed or varying expiration dates or other termination clauses. The fair value of these commitments is insignificant.

Variable Interest Entities

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities


Note 8			Variable Interest Entities

Consolidated VIEs, of which the Company is the primary beneficiary, primarily include Adirondack Insurance Exchange, a New York reciprocal insurer, and New Jersey Skylands Insurance Association, a New Jersey reciprocal insurer (together “Reciprocal Exchanges”). The Reciprocal Exchanges are insurance carriers organized as unincorporated associations. The Company does not own the equity of the Reciprocal Exchanges, which is owned by their respective policyholders.

The Company manages the business operations of the Reciprocal Exchanges and has the power to direct their activities that most significantly impact their economic performance. The Company receives a management fee for the services provided to the Reciprocal Exchanges. In addition, as of both December 31, 2022 and 2021, the Company holds interests of $123 million in the form of surplus notes included in other liabilities and expenses on the Statement of Assets and Liabilities of the Reciprocal Exchanges that provide capital to the Reciprocal Exchanges and would absorb any expected losses. The Company is therefore the primary beneficiary. In addition, the Company provides quota share reinsurance on the property business of the Reciprocal Exchanges.

In the event of dissolution, policyholders would share any residual unassigned surplus but are not subject to assessment for any deficit in unassigned surplus of the Reciprocal Exchanges. The assets of the Reciprocal Exchanges can be used only to settle the obligations of the Reciprocal Exchanges and general creditors have no recourse to the Company.

The results of operations of the Reciprocal Exchanges are included in the Company’s Allstate Protection segment and generated $164 million and $181 million of earned premiums in 2022 and 2021, respectively.

Claims and claims expenses were $130 million and $135 million in 2022 and 2021, respectively.


Assets and liabilities of Reciprocal Exchanges
($ in millions)	December 31, 2022		December 31, 2021
Assets
Fixed income securities	$	302	$	324
Short-term investments	13		30
Deferred policy acquisition costs	15		15
Premium installment and other receivables, net	43		42
Reinsurance recoverables, net	97		114
Other assets	90		82
Total assets	560		607
Liabilities
Reserve for property and casualty insurance claims and claims expense	209		226
Unearned premiums	171		175
Other liabilities and expenses	311		265
Total liabilities	$	691	$	666

Reserve for Property and Casualty Insurance Claims and Claims Expense

12 Months Ended

Dec. 31, 2022

Reserve for Property-Liability Insurance Claims and Claims Expense

Reserve for Property and Casualty Insurance Claims and Claims Expense


Note 9			Reserve for Property and Casualty Insurance Claims and Claims Expense

The Company establishes reserves for claims and claims expense on reported and unreported claims of insured losses. The Company’s reserving process takes into account known facts and interpretations of circumstances and factors including the Company’s experience with similar cases, actual claims paid, historical trends involving claim payment patterns and pending levels of unpaid claims, loss management programs, product mix and contractual terms, changes

in law and regulation, judicial decisions, and economic conditions.

When the Company experiences changes in the mix or type of claims or changing claim settlement patterns or data, it applies actuarial judgment in the determination and selection of development factors to develop reserve liabilities. For example, the Coronavirus has had a significant impact on driving patterns and auto frequency. Supply chain disruptions

have resulted in higher parts costs, used car values and longer time to claim resolution, which have combined with labor shortages to increase physical damage loss costs. Medical inflation, treatment trends, attorney representation, litigation costs and more severe accidents have contributed to higher third-party bodily injury loss costs. The company has also digitized and modified claim processes to increase effectiveness and efficiency. These factors may lead to historical development trends being less predictive of future loss development, potentially creating additional reserve variability. Generally, the initial reserves for a new accident year are established based on claim frequency and severity assumptions for different business segments, lines and coverages based on historical relationships to relevant inflation indicators. Reserves for prior accident years are statistically determined using several different actuarial estimation methods. Changes in auto claim frequency may result from changes in mix of business, driving behaviors, miles driven or other factors. Changes in auto current year claim severity are generally influenced by inflation in the medical and auto repair sectors, the effectiveness and efficiency of claim practices and changes in mix of claim types. The Company mitigates these effects through various loss management programs. When such changes in claim data occur, actuarial judgment is used to determine appropriate development factors to establish reserves. The Company’s reserving process incorporates changes in loss patterns, operational statistics and changes in claims reporting processes to determine its best estimate of recorded reserves.

As part of the reserving process, the Company may also supplement its claims processes by utilizing third-party adjusters, appraisers, engineers, inspectors, and other professionals and information sources to assess and settle catastrophe and non-catastrophe related claims. The effects of inflation are implicitly considered in the reserving process.

Because reserves are estimates of unpaid portions of losses that have occurred, including IBNR losses, the establishment of appropriate reserves, including reserves for catastrophes, Run-off Property-Liability and reinsurance and indemnification recoverables, is an inherently uncertain and complex process. The ultimate cost of losses may vary materially from recorded amounts, which are based on management’s best estimates.

The highest degree of uncertainty is associated with reserves for losses incurred in the initial reporting period as it contains the greatest proportion of losses that have not been reported or settled as well as heightened uncertainty for claims that involve litigation or take longer to settle during periods of rapidly increasing loss costs. The Company also has uncertainty in the Run-off Property-Liability reserves that are based on events long since passed and are complicated by lack of historical data, legal interpretations, unresolved legal issues and legislative intent based on establishment of facts.

The Company regularly updates its reserve estimates as new information becomes available and as events unfold that may affect the resolution of unsettled claims. Changes in reserve estimates, which may be material, are reported in property and casualty insurance claims and claims expense in the Consolidated Statements of Operations in the period such changes are determined.

Management believes that the reserve for property and casualty insurance claims and claims expense, net of recoverables, is appropriately established in the aggregate and adequate to cover the ultimate net cost of reported and unreported claims arising from losses which had occurred by the date of the Consolidated Statements of Financial Position based on available facts, laws and regulations.


Rollforward of reserve for property and casualty insurance claims and claims expense
($ in millions)	2022		2021		2020
Balance as of January 1	$	33,060	$	27,610	$	27,712
Less recoverables (1)	(9,479)		(7,033)		(6,912)
Net balance as of January 1	23,581		20,577		20,800
National General acquisition as of January 4, 2021	—		1,797		—
SafeAuto acquisition as of October 1, 2021	—		134		—
Incurred claims and claims expense related to:
Current year	35,523		29,196		22,437
Prior years	1,741		122		(436)
Total incurred	37,264		29,318		22,001
Claims and claims expense paid related to:
Current year	(20,739)		(18,438)		(14,245)
Prior years	(11,741)		(9,807)		(7,979)
Total paid	(32,480)		(28,245)		(22,224)
Net balance as of December 31	28,365		23,581		20,577
Plus recoverables	9,176		9,479		7,033
Balance as of December 31	$	37,541	$	33,060	$	27,610

(1) Recoverables comprises reinsurance and indemnification recoverables. See Note 11 for further details.


Reconciliation of total claims and claims expense incurred and paid by coverage
	December 31, 2022
($ in millions)	Incurred		Paid
Allstate Protection
Auto insurance - liability coverage	$	14,376	$	(11,173)
Auto insurance - physical damage coverage	9,411		(8,802)
Homeowners insurance	6,971		(5,977)
Total auto and homeowners insurance	30,758		(25,952)
Other personal lines	1,520		(1,317)
Commercial lines	1,256		(817)
Protection Services	440		(438)
Run-off Property-Liability	116		(86)
Unallocated loss adjustment expenses (“ULAE”)	3,048		(2,847)
Claims incurred and paid from before 2018	80		(787)
Other (1)	46		(236)
Total	$	37,264	$	(32,480)

(1)Paid and incurred amounts primarily related to the effect of foreign currency translation adjustments. Additionally, paid includes the acquisition of SafeAuto.

Incurred claims and claims expense represents the sum of paid losses, claim adjustment expenses and reserve changes in the calendar year. This expense includes losses from catastrophes of $3.11 billion, $3.34 billion and $2.81 billion in 2022, 2021 and 2020, respectively, net of recoverables. Catastrophes are an inherent risk of the property and casualty insurance business that have contributed to, and will continue to contribute to, material year-to-year fluctuations in the Company’s results of operations and financial position.

The Company calculates and records a single best reserve estimate for losses from catastrophes, in conformance with generally accepted actuarial standards. As a result, management believes that no other estimate is better than the recorded amount. Due to the uncertainties involved, including the factors described above, the ultimate cost of losses may vary materially from recorded amounts, which are based on management’s best estimates. Accordingly, management believes that it is not practical to develop a meaningful range for any such changes in losses incurred.


Prior year reserve reestimates included in claims and claims expense (1)
	Twelve months ended December 31,
	Non-catastrophe losses						Catastrophe losses						Total
($ in millions)	2022		2021		2020		2022		2021(2)(3)		2020 (4)		2022		2021		2020
Auto	$	1,249	$	178	$	(63)	$	(64)	$	(29)	$	(44)	$	1,185	$	149	$	(107)
Homeowners	113		12		(17)		81		(165)		(422)		194		(153)		(439)
Other personal lines	(34)		(96)		(27)		2		(11)		(39)		(32)		(107)		(66)
Commercial lines	273		116		34		(1)		3		2		272		119		36
Run-off Property-Liability (5)	125		116		141		—		—		—		125		116		141
Protection Services	(3)		(2)		(1)		—		—		—		(3)		(2)		(1)
Total prior year reserve reestimates	$	1,723	$	324	$	67	$	18	$	(202)	$	(503)	$	1,741	$	122	$	(436)

(1)Favorable reserve reestimates are shown in parentheses.

(2)Includes approximately $240 million of estimated recoveries related to Nationwide Aggregate Reinsurance Program cover for aggregate catastrophe losses occurring between April 1, 2020 and December 31, 2020, which primarily impacted homeowners reestimates.

(3)Includes approximately $110 million favorable subrogation settlements arising from the Woolsey wildfire, which primarily impacted homeowners reestimates.

(4)Includes approximately $495 million of favorable reserve reestimates related to the PG&E Corporation and Southern California Edison subrogation settlements, which primarily impacted homeowners.

(5)The Company’s 2022, 2021 and 2020 annual reserve review, using established industry and actuarial best practices, resulted in unfavorable reestimates of $118 million, $111 million and $132 million, respectively.

Unfavorable reserve reestimates for personal auto are primarily from bodily injury and physical damage coverages. Increases in injury coverages reflect recent data and updated assumptions related to severity of third-party bodily injury claims, increased claims with attorney representation, litigation costs, increased medical treatment utilization and higher medical inflation. Increases in physical damage reflect the ongoing inflationary factors and supply chain shortages impacting used vehicle and parts prices, labor rates and length of claim resolution. Delays in the receipt of claims, including third-party carrier claims also contributed to the adverse development of claims reported in prior

years. The estimate of the year-to-date current report year claim severity increased in the fourth quarter for bodily injury and physical damage coverages to reflect continued increases in loss costs.

Personal auto insurance claim frequency has continued to increase, but remains below 2019 levels. Late reported claim frequency attributable to prior accident years also impacted reserve reestimates.

Unfavorable reserve reestimates for commercial are primarily from auto injury coverages for both shared economy and traditional segments with a large portion of the traditional segment increase related to states where the Company will no longer be selling new business.

The following presents information about incurred and paid claims development as of December 31, 2022, net of recoverables, as well as the cumulative number of reported claims and the total of IBNR reserves plus expected development on reported claims included in the net incurred claims amounts. See Note 2 for the accounting policy and methodology for determining reserves for claims and claims expense, including both reported and IBNR claims. The cumulative number of reported claims is identified by coverage and excludes reported claims for industry pools and facilities where information is not available. The information about incurred and paid claims development for the 2018 to 2022 years, and the average annual percentage payout of incurred claims by age as of December 31, 2022, is presented as required supplementary information.

Auto insurance – liability coverage


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables												IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										Prior year reserve reestimates		As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	9,788	$	9,758	$	9,798	$	9,835	$	9,928	$	93	$	603	2,500,972
2019	—		10,526		10,471		10,716		10,905		189		1,242		2,637,152
2020	—		—		8,748		8,744		8,984		240		1,813		1,904,004
2021	—		—		—		10,365		10,823		458		3,488		2,291,873
2022	—		—		—		—		13,396				8,904		2,311,893
							Total		$	54,036	$	980
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years											152
Prior year reserve reestimates for ULAE											18
Other											4
Total prior year reserve reestimates											$	1,154

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	3,663	$	6,404	$	7,785	$	8,703	$	9,325
2019	—		3,974		7,080		8,651		9,663
2020	—		—		3,135		5,858		7,171
2021	—		—		—		3,601		7,335
2022	—		—		—		—		4,492
							Total		$	37,986
All outstanding liabilities before 2018, net of recoverables									1,332
Liabilities for claims and claim adjustment expenses, net of recoverables									$	17,382

(1) Results include certain National General commercial lines insurance products.


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Auto insurance – liability coverage	37.6	%	28.7	%	13.3	%	8.5	%	5.3	%

Auto insurance – physical damage coverage


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables												IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										Prior year reserve reestimates		As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	5,775	$	5,692	$	5,647	$	5,640	$	5,637	$	(3)	$	—	4,686,877
2019	—		6,255		6,174		6,136		6,134		(2)		(1)		4,861,875
2020	—		—		5,495		5,407		5,381		(26)		(7)		4,013,428
2021	—		—		—		7,285		7,342		57		(23)		4,587,385
2022	—		—		—		—		9,385				1,060		4,711,189
							Total		$	33,879	$	26
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years											—
Prior year reserve reestimates for ULAE											3
Other											2
Total prior year reserve reestimates											$	31

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	5,464	$	5,681	$	5,638	$	5,635	$	5,637
2019	—		5,947		6,144		6,138		6,135
2020	—		—		5,129		5,415		5,388
2021	—		—		—		6,860		7,365
2022	—		—		—		—		8,325
							Total		$	32,850
All outstanding liabilities before 2018, net of recoverables									11
Liabilities for claims and claim adjustment expenses, net of recoverables									$	1,040

(1)Results include certain National General commercial lines insurance products.


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Auto insurance – physical damage coverage	95.2	%	4.4	%	(0.3)	%	(1.5)	%	1.6	%

Homeowners insurance


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables												IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										Prior year reserve reestimates		As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	5,145	$	5,251	$	4,947	$	4,818	$	4,852	$	34	$	42	898,857
2019	—		4,853		4,912		4,920		4,931		11		85		869,860
2020	—		—		5,781		5,827		5,921		94		137		989,034
2021	—		—		—		6,404		6,532		128		385		992,897
2022	—		—		—		—		6,704				2,724		705,357
							Total		$	28,940	$	267
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years											(72)
Prior year reserve reestimates for ULAE											2
Other											(3)
Total prior year reserve reestimates											$	194

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	3,768	$	4,873	$	4,749	$	4,736	$	4,810
2019	—		3,527		4,576		4,768		4,846
2020	—		—		4,257		5,548		5,784
2021	—		—		—		4,538		6,147
2022	—		—		—		—		3,980
							Total		$	25,567
All outstanding liabilities before 2018, net of recoverables									86
Liabilities for claims and claim adjustment expenses, net of recoverables									$	3,459

(1)Results include National General packaged policies, which include auto, and commercial lines insurance products.


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Homeowners insurance	72.0	%	21.3	%	2.9	%	0.8	%	0.8	%


Reconciliation of the net incurred and paid claims development tables above to the reserve for property and casualty insurance claims and claims expense
($ in millions)	As of December 31, 2022
Net outstanding liabilities
Allstate Protection
Auto insurance - liability coverage	$	17,382
Auto insurance - physical damage coverage	1,040
Homeowners insurance	3,459
Other personal lines	1,558
Commercial lines	1,857
Protection Services	36
Run-off Property-Liability (1)	1,370
ULAE	1,649
Other (2)	14
Net reserve for property and casualty insurance claims and claims expense	28,365

Recoverables
Allstate Protection
Auto insurance - liability coverage	7,214
Auto insurance - physical damage coverage	44
Homeowners insurance	666
Other personal lines	320
Commercial lines	292
Protection Services	11
Run-off Property-Liability	503
ULAE	126
Total recoverables	9,176
Gross reserve for property and casualty insurance claims and claims expense	$	37,541

(1)Run-off Property-Liability includes business in run-off with most of the claims related to accident years more than 30 years ago. IBNR reserves represent $765 million of the total reserves as of December 31, 2022.

(2)Primarily related to the unamortized fair value adjustment related to the acquisition of National General.

Reserve for Future Policy Benefits and Contractholder Funds

12 Months Ended

Dec. 31, 2022

Reserve for Future Policy Benefits and Contractholder Funds

Reserve for Future Policy Benefits and Contractholder Funds


Note 10			Reserve for Future Policy Benefits and Contractholder Funds


Reserve for future policy benefits
	As of December 31,
($ in millions)	2022		2021
Traditional life insurance and other	$	318	$	313
Accident and health insurance	955		960
Reserve for future policy benefits	$	1,273	$	1,273

Key assumptions generally used in calculating the reserve for future policy benefits

Product

Mortality

Interest rate

Estimation method

Traditional life insurance

Actual company experience plus loading

Interest rate assumptions range from 1.8% to 7.0%

Net level premium reserve method using the Company’s withdrawal experience rates; includes reserves for unpaid claims

Accident and health insurance

Actual company experience plus loading

Interest rate assumptions range from 2.0% to 7.0%

Unearned premium; additional contract reserves for mortality risk and unpaid claims

Accident and health short-duration contracts

The following presents information about incurred and paid claims development as of December 31, 2022, net of recoverables, as well as the cumulative number of reported claims and the total of IBNR reserves plus expected development on reported claims included in the net incurred claims amounts. See Note 2 for the accounting policy and methodology for determining reserves for future policy benefits, including both reported and IBNR claims. The Company’s accident and health claims are counted by claim number assigned to each claimant per illness, injury or death, regardless of number of services rendered for each incident. Claims closed without payment are not included in the cumulative number of reported accident and health claims. The information about incurred and paid claims development for the 2018 to 2022 years, as of December 31, 2022, is presented as required supplementary information.

Group and individual accident and health


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables										IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018		2019		2020		2021		2022
2018	$	235	$	205	$	203	$	203	$	203	$	—	292,491
2019	—		257		239		242		242		—		311,662
2020	—		—		297		293		294		4		414,634
2021	—		—		—		424		420		12		671,483
2022	—		—		—		—		437		162		427,124
							Total		$	1,596

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018		2019		2020		2021		2022
2018	$	126	$	201	$	203	$	203	$	203
2019	—		158		234		242		242
2020	—		—		184		284		290
2021	—		—		—		272		408
2022	—		—		—		—		275
							Total		$	1,418
All outstanding liabilities before 2018, net of recoverables									—
Liabilities for claims and claim adjustment expenses, net of recoverables									$	178


Reconciliation of the net incurred and paid claims development tables above to the reserve for future policy benefits
($ in millions)	As of December 31, 2022
Net outstanding liabilities
Group and individual accident and health short-duration contracts	$	178
Other accident and health short-duration contracts	31
Long duration accident and health insurance	592
Long duration traditional life insurance and other	324
ULAE	9
Net reserve for future policy benefits	1,134
Recoverables
Group and individual accident and health short-duration contracts	35
Other accident and health short-duration contracts	—
Insurance lines other than short-duration	104
ULAE	—
Gross reserve for future policy benefits	$	1,273


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Group and individual accident and health	63.0	%	34.3	%	2.1	%	0.6	%	—	%

Contractholder funds for interest-sensitive life insurance were $847 million and $853 million as of December 31, 2022 and 2021, respectively.


Contractholder funds activity
	For the years ended December 31,
($ in millions)	2022		2021		2020
Balance, beginning of year	$	908	$	857	$	915
Deposits	133		118		121
Interest credited	32		34		33
Benefits	(21)		(41)		(34)
Surrenders and partial withdrawals	(28)		(23)		(61)
Contract charges	(121)		(107)		(123)
Other adjustments	(6)		70		6
Balance, end of year	$	897	$	908	$	857

Reinsurance and Indemnification

12 Months Ended

Dec. 31, 2022

Reinsurance Disclosures [Abstract]

Reinsurance and Indemnification


Note 11			Reinsurance and Indemnification


Effects of reinsurance and indemnification on property and casualty premiums written and earned and accident and health insurance premiums and contract charges
	For the years ended December 31,
($ in millions)	2022		2021		2020
Property and casualty insurance premiums written
Direct	$	50,065	$	45,523	$	38,695
Assumed	245		213		105
Ceded	(1,824)		(1,736)		(1,142)
Property and casualty insurance premiums written, net of recoverables	$	48,486	$	44,000	$	37,658

Property and casualty insurance premiums earned
Direct	$	47,552	$	43,944	$	38,115
Assumed	221		178		99
Ceded	(1,869)		(1,904)		(1,141)
Property and casualty insurance premiums earned, net of recoverables	$	45,904	$	42,218	$	37,073

Accident and health insurance premiums and contract charges
Direct	$	1,840	$	1,878	$	1,093
Assumed	31		21		14
Ceded	(38)		(78)		(13)
Accident and health insurance premiums and contract charges, net of recoverables	$	1,833	$	1,821	$	1,094

Reinsurance and indemnification recoverables


Reinsurance and indemnification recoverables, net
	As of December 31,
($ in millions)	2022		2021
Property and casualty
Paid and due from reinsurers and indemnitors	$	291	$	391
Unpaid losses estimated (including IBNR)	9,176		9,479
Total property and casualty	$	9,467	$	9,870
Accident and health insurance	139		154
Total	$	9,606	$	10,024


Rollforward of credit loss allowance for reinsurance recoverables
	For the years ended December 31,
($ in millions)	2022		2021
Property and casualty (1) (2)
Beginning balance	$	(66)	$	(59)
Increase in the provision for credit losses	(5)		(8)
Write-offs	9		1
Ending balance	$	(62)	$	(66)

Accident and health insurance
Beginning balance	$	(8)	$	(1)

Decrease/(Increase) in the provision for credit losses	5		(7)
Write-offs	—		—
Ending Balance	$	(3)	$	(8)

(1)Primarily related to Run-off Property-Liability reinsurance ceded.

(2)Indemnification recoverables are considered collectible based on the industry pool and facility enabling legislation.

Property and casualty

Property and casualty programs are grouped by the following characteristics:

1.Indemnification programs - industry pools, facilities or associations that are governed by state insurance statutes or regulations or the federal government.

2.Catastrophe reinsurance programs - reinsurance protection for catastrophe exposure nationwide and by specific states, as applicable.

3.Other reinsurance programs - reinsurance protection for asbestos, environmental and other liability exposures as well as commercial lines, including shared economy.

Property and casualty reinsurance is in place for the Allstate Protection, Run-off lines and Protection Services segments. The Company purchases reinsurance after evaluating the financial condition of the reinsurer as well as the terms and price of coverage.

Indemnification programs

The Company participates in state-based industry pools or facilities mandating participation by insurers offering certain coverage in their state, including the Michigan Catastrophic Claims Association (“MCCA”), the New Jersey Property-Liability Insurance Guaranty Association (“PLIGA”), the North Carolina Reinsurance Facility (“NCRF”) and the Florida Hurricane Catastrophe Fund (“FHCF”). When the Company pays qualifying claims under the coverage indemnified by a state’s pool or facility, the Company is reimbursed for the qualifying claim losses and expenses. Each state pool or facility may assess participating companies to collect sufficient amounts to meet its total indemnification requirements. The enabling legislation for each state’s pool or facility compels the pool or facility only to indemnify participating companies for qualifying claim losses and expenses; the state pool or facility does not underwrite the coverage or take on the ultimate risk of the indemnified business. As a pass through, these pools or facilities manage the receipt of assessments paid by participating companies and

payment of indemnified amounts for covered claims presented by participating companies. The Company has not had any credit losses related to these indemnification programs.

State-based industry pools or facilities

Michigan Catastrophic Claims Association The MCCA is a statutory indemnification mechanism for member insurers’ qualifying personal injury protection claims paid for the unlimited lifetime medical benefits above the applicable retention level for qualifying injuries from automobile, motorcycle and commercial vehicle accidents. Indemnification recoverables on paid and unpaid claims, including IBNR, as of December 31, 2022 and 2021 include $6.72 billion and $6.70 billion, respectively, from the MCCA for its indemnification obligation.

The MCCA is funded by annually assessing participating member companies actively writing motor vehicle coverage in Michigan on a per vehicle basis that is currently $86 per vehicle insured for unlimited personal injury protection (“PIP”) coverage. The MCCA’s calculation of the annual assessment is based upon the total of members’ actuarially determined present value of expected payments on lifetime claims by all persons expected to be catastrophically injured in that year and ultimately qualify for MCCA reimbursement, its operating expenses, and adjustments for the amount of excesses or deficiencies in prior assessments. The MCCA has also included in its calculation, the impacts of the auto insurance reforms which have begun to phase in since their passage in June 2019, including the PIP medical fee schedule that became effective July 2, 2021. The assessment is incurred by the Company as policies are written and recovered as a component of premiums from the Company’s customers.

The MCCA indemnifies qualifying claims of all current and former member companies (whether or not actively writing motor vehicle coverage in Michigan) for qualifying claims and claims expenses incurred while the member companies were actively writing the mandatory PIP coverage in Michigan. Member

companies actively writing automobile coverage in Michigan include the MCCA annual assessments in determining the level of premiums to charge insureds in the state.

As required for member companies by the MCCA, the Company reports covered paid and unpaid claims to the MCCA when estimates of loss for a reported claim are expected to exceed the retention level, the claims involve certain types of severe injuries, or there are litigation demands received suggesting the claim value exceeds certain thresholds. The retention level is adjusted upward every other MCCA fiscal year by the lesser of 6% or the increase in the Consumer Price Index. The retention level will be $600 thousand per claim for the fiscal two-years ending June 30, 2023 compared to $580 thousand per claim for the fiscal two-years ending June 30, 2021.

The MCCA is obligated to fund the ultimate liability of member companies’ qualifying claims and claim expenses. The MCCA does not underwrite the insurance coverage or hold any underwriting risk.

The MCCA indemnifies members as qualifying claims are paid and billed by members to the MCCA. Unlimited lifetime covered losses result in significant levels of ultimate incurred claim reserves being recorded by member companies along with offsetting indemnification recoverables. Disputes with claimants over coverage on certain reported claims can result in additional losses, which may be recoverable from the MCCA, excluding litigation expenses. There is currently no method by which insurers are able to obtain the benefit of managed care programs to reduce claims costs through the MCCA.

The MCCA annual assessments fund current operations and member company reimbursements. The MCCA prepares statutory-basis financial statements in conformity with accounting practices prescribed or permitted by the State of Michigan Department of Insurance and Financial Services (“MI DOI”). The MI DOI has granted the MCCA a statutory permitted practice that expires in June 30, 2025 to discount its liabilities for loss and loss adjustment expense. As of June 30, 2022, the date of its most recent annual financial report, the MCCA had cash and invested assets of $21.82 billion and an accumulated deficit of $3.68 billion. The permitted practice reduced the accumulated deficit by $44.89 billion. As a result of this deficit, there will be an additional assessment of $48 per passenger and commercial vehicle and motorcycle insured beginning July 1, 2023 with varying assessments for commercial fleet and historical vehicles.

As a result of the auto insurance reforms passed in June 2019, the MCCA announced on November 3, 2021 that the surplus reported for the fiscal year ended June 30, 2021 had increased beyond a level necessary to safely cover its expected losses and expenses and will return a portion of its surplus to its member insurance companies as a pass-through to issue a refund of $400 per vehicle and $80 per historical vehicle to the policyholders. At the time the returned surplus was received, a liability was recorded until the refunds were

disbursed to the policyholders. All refunds have been sent to policyholders as of December 31, 2022.

New Jersey Property-Liability Insurance Guaranty Association PLIGA serves as the statutory administrator of the Unsatisfied Claim and Judgment Fund (“UCJF”), Workers’ Compensation Security Fund and the New Jersey Surplus Lines Insurance Guaranty Fund.

In addition to its insolvency protection responsibilities, PLIGA reimburses insurers for unlimited excess medical benefits (“EMBs”) paid in connection with PIP claims in excess of $75,000 for policies issued or renewed prior to January 1, 1991, and limited EMB claims in excess of $75,000 and capped at $250,000 for policies issued or renewed on or after January 1, 1991, to December 31, 2003.

A significant portion of the incurred claim reserves and the recoverables can be attributed to a small number of catastrophic claims. Assessments paid to PLIGA for the EMB program totaled $7 million in 2022. The amounts of paid and unpaid recoverables as of December 31, 2022 and 2021 were $330 million and $371 million, respectively.

PLIGA annually assesses all admitted property and casualty insurers writing covered lines in New Jersey for PLIGA indemnification and expenses. PLIGA assessments may be recouped as a surcharge on premiums collected. PLIGA does not ultimately retain underwriting risk as it assesses member companies for their expected qualifying losses to provide funding for payment of its indemnification obligation to member companies for their actual losses. As a pass through, PLIGA facilitates these transactions of receipt of assessments paid by member companies and payment to member companies for covered claims presented by them for indemnification. As of December 31, 2021, the date of its most recent annual financial report, PLIGA had a fund balance of $268 million.

As statutory administrator of the UCJF, PLIGA provides compensation to qualified claimants for personal injury protection, bodily injury, or death caused by private passenger automobiles operated by uninsured or “hit and run” drivers. The UCJF also provides private passenger pedestrian personal injury protection benefits when no other coverage is available.

PLIGA annually collects a UCJF assessment from all admitted property and casualty insurers writing motor vehicle liability insurance in New Jersey for UCJF indemnification and expenses. UCJF assessments can be expensed as losses recoverable in rates as appropriate. As of December 31, 2021, the date of its most recent annual financial report, the UCJF fund had a balance of $62 million.

North Carolina Reinsurance Facility The NCRF provides automobile liability insurance to drivers that private market insurers are not otherwise willing to insure. All insurers licensed to write automobile insurance in North Carolina are members of the NCRF. Premiums, losses and expenses are assigned to the NCRF. North Carolina law allows the NCRF to recoup

operating losses for certain insureds through a surcharge to policyholders. As of September 30, 2022, the NCRF reported a deficit of $148 million in members’ equity. The NCRF implemented a loss recoupment surcharge on all private passenger and commercial fleet policies effective October 1, 2022, through March 31, 2023. Member companies are assessed the recoupment surcharge. The loss recoupment surcharge will be adjusted on April 1, 2023 and discontinued once losses are recovered. The NCRF results are shared by the member companies in proportion to their respective North Carolina automobile liability writings. For the fiscal year ending September 30, 2022, net loss was $81 million, including $1.1 billion of earned premiums, $302 million of certain private passenger auto risk recoupment and $37 million of member loss recoupments. As of December 31, 2022, the NCRF recoverables on paid claims is $52 million and recoverables on unpaid claims is $240 million. Paid recoverable balances, if covered, are typically settled within sixty days of monthly filing.

Florida Hurricane Catastrophe Fund Allstate subsidiaries Castle Key Insurance Company (“CKIC”) and Castle Key Indemnity Company (“CKI”, and together with CKIC, “Castle Key”) participate in the mandatory coverage provided by the FHCF and therefore have access to reimbursement for certain qualifying Florida hurricane losses from the FHCF. Castle Key has exposure to assessments and pays annual premiums to the FHCF for this reimbursement protection. The FHCF has the authority to issue bonds to pay its obligations to participating insurers in excess of its capital balances. Payment of these bonds is funded by emergency assessments on all property and casualty premiums in the state, except workers’ compensation, medical malpractice, accident and health insurance and policies written under the National Flood Insurance Program (“NFIP”). The FHCF emergency assessments are limited to 6% of premiums per year beginning the first year in which reimbursements require bonding, and up to a total of 10% of premiums per year for assessments in the second and subsequent years, if required to fund additional bonding. The FHCF has not issued an emergency assessment since 2015.

Annual premiums earned and paid under the FHCF agreement were $24 million, $15 million and $9 million in 2022, 2021 and 2020, respectively. Qualifying losses were $74 million, $13 million and $15 million in 2022, 2021 and 2020, respectively. The Company has access to reimbursement provided by the FHCF for 90% of qualifying personal property losses that exceed its current retention of $153 million for the two largest hurricanes and $51 million for other hurricanes, up to a maximum total of $350 million, effective from June 1, 2022 to May 31, 2023. The amounts recoverable from the FHCF totaled $96 million and $25 million as of December 31, 2022 and 2021, respectively.

Federal Government - National Flood Insurance Program NFIP is a program administered by the Federal Emergency Management Agency (“FEMA”) whereby the Company sells and services NFIP flood insurance policies as an agent of FEMA and receives

fees for its services. The Company is fully indemnified for claims and claim expenses and does not retain any ultimate risk for the indemnified business. The federal government is obligated to pay all claims and certain allocated loss adjustment expenses in accordance with the arrangement.

Congressional authorization for the NFIP is periodically evaluated and may be subjected to freezes, including when the federal government experiences a shutdown. FEMA has a NFIP reinsurance program to manage the future exposure of the NFIP through the transfer of risk to private reinsurance companies and capital market investors. Congress is evaluating the funding of the program as well as considering reforms to the program that would be incorporated in legislation to reauthorize the NFIP. As of June 30, 2022, the NFIP owes $20.5 billion to the U.S. Treasury.

The amounts recoverable as of December 31, 2022 and 2021 were $145 million and $34 million, respectively. Premiums earned under the NFIP include $319 million, $350 million and $261 million in 2022, 2021 and 2020, respectively. Qualifying losses incurred include $435 million, $267 million and $87 million in 2022, 2021 and 2020, respectively.

Catastrophe reinsurance

The Company’s reinsurance program is designed to provide reinsurance protection for catastrophes resulting from multiple perils including hurricanes, windstorms, hail, tornadoes, winter storms, wildfires, earthquakes and fires following earthquakes.

•The Company purchases reinsurance from traditional reinsurance companies as well as the insurance-linked securities (“ILS”) market.

•The majority of the Company’s program comprises multi-year contracts, primarily placed in the traditional reinsurance market, such that generally one-third of the program is renewed every year.

•Coverage is generally purchased on a broad geographic, product line and multiple peril loss basis.

•Florida personal lines property is covered by a separate agreement, as the risk of loss is different and the Company’s subsidiaries operating in this state are separately capitalized.

•When applicable, reinsurance reinstatement premiums are recognized in the same period as the loss event that gave rise to the reinstatement premium and are recorded in claims and claims expense in the consolidated statements of operations.

The Company’s current catastrophe reinsurance program supports the Company’s risk tolerance framework which utilizes a modeled 1-in-100 annual aggregate limit for catastrophe losses from hurricanes, earthquakes and wildfires of $2.5 billion, net of reinsurance.

The program includes coverage for losses to personal lines property, personal lines automobile, commercial lines property or commercial lines automobile arising out of multiple perils, in addition to hurricanes and earthquakes. These reinsurance agreements are part of the catastrophe management strategy, which is intended to provide shareholders an acceptable return on the risks assumed in the property business, and to reduce variability of earnings, while providing protection to customers. The Company has the following catastrophe reinsurance agreements in effect as of December 31, 2022.

The Nationwide Excess Catastrophe Reinsurance Program (the “Nationwide Program”) provides coverage up to $7.01 billion of losses less a $500 million retention, and is subject to the percentage of reinsurance placed in each of its agreements. Property business in the state of Florida is excluded from this program. Separate reinsurance agreements address the distinct needs of separately capitalized legal entities. The Nationwide Program includes reinsurance agreements with both the traditional and ILS markets as described below:

•The traditional market multi-year placements provide limits totaling $3.89 billion for catastrophe losses arising out of multiple perils and are comprised of the following:

–$3.56 billion of placed limits attaching at $500 million, exhausting at $3.75 billion, with a 5% co-participation. Coverage is provided in four contracts with one annual reinstatement of limits. 31.7% of the first $250 million in excess of $500 million is retained by Allstate.

–$331 million of placed limits in excess of a $3.75 billion retention, with a 5% co-participation. Coverage is provided in two contracts, with one reinstatement of limits over each contract’s eight-year term.

•ILS placements provide $1.55 billion of placed limits, with no reinstatement of limits, and are comprised of the following:

–Five contracts providing occurrence coverage of $950 million of placed limits, reinsuring losses in all states except Florida caused by named storms, earthquakes and fire following earthquakes, severe weather, wildfires, and other naturally occurring or man-made events determined to be a catastrophe by the Company.

–Three contracts providing occurrence and aggregate coverage of $425 million of placed limits, also provide that for each annual period beginning April 1, Allstate declared catastrophes to personal lines property and automobile business can be aggregated to erode the aggregate retention and qualify for coverage under the aggregate limits. Recoveries are limited to the ultimate net loss from the reinsured event.

–One contract, providing aggregate coverage of $175 million of placed limits.

•Traditional single-year placements provide $640 million of placed limits, filling capacity around the traditional market and insurance-linked securities multi-year placements:

–Three contracts providing $465 million of placed limits between $5.94 billion and $6.61 billion of loss, with no reinstatement of limits.

–Two contracts providing $175 million of placed limits between $3.75 billion and $5.94 billion of loss, with no reinstatement limits.

The Kentucky earthquake agreement comprises a three-year term contract that reinsures personal lines property losses caused by earthquakes and fire following earthquakes in Kentucky and provides $28 million of limits, 95% placed, in excess of a $2 million retention.

The Florida program provides limit up to $1.83 billion of a single event loss, less a $40 million retention. The Florida program includes reinsurance agreements placed in the traditional market, the FHCF, and the ILS market as follows:

• Traditional market placements comprise reinsurance limits for losses to personal lines property in Florida arising out of multiple perils. These contracts provide a combined $1.30 billion of limits, with a portion of the traditional market placements providing coverage for perils not covered by the FHCF contracts, which only cover hurricanes.

• Two FHCF contracts provide $350 million of limits for qualifying losses to personal lines property in Florida caused by storms the National Hurricane Center declares to be hurricanes. Both contracts are 90% placed.

• The ILS placement provides $488 million of reinsurance limit for qualifying losses to personal lines property in Florida caused by a named storm event, a severe weather event, an earthquake event, a fire event, a volcanic eruption event, or a meteorite impact event.

National General Lender Services Standalone Program is placed in the traditional market and provides $225 million of coverage, subject to a $50 million retention, with one reinstatement of limits. Inuring contracts include the National General Florida Hurricane Catastrophe Program providing $32 million of limit and is 90% placed.

National General Reciprocal Excess Catastrophe Reinsurance Contracts are placed in the traditional market and provides $690 million of coverage, subject to a $20 million retention, with one reinstatement of limits.

Canada Catastrophe Excess of Loss Reinsurance Contract is placed in the traditional market and provides CAD 175 million of coverage, subject to a CAD 50 million retention, with one reinstatement of limits.

The Company has not experienced credit losses on its catastrophe reinsurance programs. The total cost of the property catastrophe reinsurance program was $788 million, $556 million and $425 million in 2022, 2021 and 2020, respectively.

Other reinsurance programs

The Company’s other reinsurance programs relate to commercial lines, including shared economy, and asbestos, environmental, and other liability exposures. The largest reinsurance recoverable balance the Company had outstanding was $183 million and $187 million from Aleka Insurance Inc. as of December 31, 2022 and 2021, respectively. These programs also include reinsurance recoverables of $180 million and $165 million from Lloyd’s of London as of December 31, 2022 and 2021, respectively.

Deferred Policy Acquisition Costs

12 Months Ended

Dec. 31, 2022

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs


Note 12			Deferred Policy Acquisition Costs


Deferred policy acquisition costs activity
	For the years ended December 31,
($ in millions)	2022		2021		2020
Balance, beginning of year	$	4,722	$	3,774	$	3,600
National General acquisition	—		317		—
SafeAuto acquisition	—		7		—
Acquisition costs deferred	7,337		6,874		5,651
Amortization charged to income	(6,644)		(6,252)		(5,477)
Effect of unrealized gains and losses	3		2		—
Balance, end of year	$	5,418	$	4,722	$	3,774

Capital Structure

12 Months Ended

Dec. 31, 2022

Capital Structure

Capital Structure


Note 13			Capital Structure


Total debt outstanding
	As of December 31,
($ in millions)	2022		2021
Floating Rate Senior Notes, due 2023 (1)	$	250	$	250
3.150% Senior Notes, due 2023 (2)	500		500
6.750% Senior Notes due 2024 (2) (3)	350		350
0.750% Senior Notes, due 2025 (2)	600		600
3.280% Senior Notes, due 2026 (2)	550		550
Due in one year through five years	2,250		2,250
1.450% Senior Notes, due 2030 (2)	600		600
6.125% Senior Notes, due 2032 (2)	159		159
Due after five years through ten years	759		759
5.350% Senior Notes due 2033 (2)	323		323
5.550% Senior Notes due 2035 (2)	546		546
5.950% Senior Notes, due 2036 (2)	386		386
6.900% Senior Debentures, due 2038	165		165
5.200% Senior Notes, due 2042 (2)	62		62
4.500% Senior Notes, due 2043 (2)	500		500
4.200% Senior Notes, due 2046 (2)	700		700
3.850% Senior Notes, due 2049 (2)	500		500
5.100% Subordinated Debentures, due 2053	500		500
5.750% Subordinated Debentures, due 2053	800		800
6.500% Junior Subordinated Debentures, due 2067	500		500
Due after ten years	4,982		4,982

Long-term debt total principal	7,991		7,991
Fair value adjustments (3)	26		45
Debt issuance costs	(53)		(60)
Total long-term debt	7,964		7,976
Short-term debt (4)	—		—
Total debt	$	7,964	$	7,976

(1)2023 Floating Rate Senior Notes are not redeemable prior to the applicable maturity dates and bear interest at a floating rate equal to three-month LIBOR, reset quarterly on each interest reset date, plus 0.63% per year.

(2)Senior Notes are subject to redemption at the Company’s option in whole or in part at any time at the greater of either 100% of the principal amount plus accrued and unpaid interest to the redemption date or the discounted sum of the present values of the remaining scheduled payments of principal and interest and accrued and unpaid interest to the redemption date.

(3)Debt acquired as part of the National General acquisition completed on January 4, 2021.

(4)The Company classifies any borrowings which have a maturity of twelve months or less at inception as short-term debt.

Debt maturities


Debt maturities for each of the next five years and thereafter (excluding issuance costs and other)
($ in millions)
2023	$	750
2024	350
2025	600
2026	550
2027	—
Thereafter	5,741
Total long-term debt principal	$	7,991

The Subordinated Debentures may be redeemed (i) in whole at any time or in part from time to time on or after January 15, 2023 for the 5.100% Subordinated Debentures and August 15, 2023 for the 5.750% Subordinated Debentures at their principal amount plus accrued and unpaid interest to, but excluding, the date of redemption; provided that if the Subordinated

Debentures are not redeemed in whole, at least $25 million aggregate principal amount must remain outstanding, or (ii) in whole, but not in part, prior to January 15, 2023 for the 5.100% Subordinated Debentures and August 15, 2023 for the 5.750% Subordinated Debentures, within 90 days after the occurrence of certain tax and rating agency events, at their principal amount or, if greater, a make-whole redemption price, plus accrued and unpaid interest to, but excluding, the date of redemption. The 5.750% Subordinated Debentures have this make-whole redemption price provision only when a reduction of equity credit assigned by a rating agency has occurred.

Interest on the 5.100% Subordinated Debentures is payable quarterly at the stated fixed annual rate to January 14, 2023, or any earlier redemption date, and then at an annual rate equal to the three-month LIBOR plus 3.165%. Interest on the 5.750% Subordinated Debentures is payable semi-annually at the stated fixed annual rate to August 14, 2023, or any earlier

redemption date, and then quarterly at an annual rate equal to the three-month LIBOR plus 2.938%. The Company may elect to defer payment of interest on the Subordinated Debentures for one or more consecutive interest periods that do not exceed five years. During a deferral period, interest will continue to accrue on the Subordinated Debentures at the then-applicable rate and deferred interest will compound on each interest payment date. If all deferred interest on the Subordinated Debentures is paid, the Company can again defer interest payments.

As of December 31, 2022, the Company had outstanding $500 million of Series A 6.500% Fixed-to-Floating Rate Junior Subordinated Debentures (“Debentures”). The scheduled maturity date for the Debentures is May 15, 2057 with a final maturity date of May 15, 2067. The Debentures may be redeemed (i) in whole or in part, at any time on or after May 15, 2037 at the principal amount plus accrued and unpaid interest to the date of redemption, or (ii) in certain circumstances, in whole or in part, prior to May 15, 2037 at the principal amount plus accrued and unpaid interest to the date of redemption or, if greater, a make-whole price.

Interest on the Debentures is payable semi-annually at the stated fixed annual rate to May 15, 2037, and then payable quarterly at an annual rate equal to the three-month LIBOR plus 2.120%. The Company may elect at one or more times to defer payment of interest on the Debentures for one or more consecutive interest periods that do not exceed 10 years. Interest compounds during such deferral periods at the rate in effect for each period. The interest deferral feature obligates the Company in certain circumstances to issue common stock or certain other types of securities if it cannot otherwise raise sufficient funds to make the required interest payments. The Company has reserved 75 million shares of its authorized and unissued common stock to satisfy this obligation.

The terms of the Company’s outstanding subordinated debentures prohibit the Company from declaring or paying any dividends or distributions on common or preferred stock or redeeming, purchasing, acquiring, or making liquidation payments on common stock or preferred stock if the Company has elected to defer interest payments on the subordinated debentures, subject to certain limited exceptions.

In connection with the issuance of the Debentures, the Company entered into a replacement capital covenant (“RCC”). This covenant was not intended for the benefit of the holders of the Debentures and could not be enforced by them. Rather, it was for the benefit of holders of one or more other designated series of the Company’s indebtedness (“covered debt”), currently the 5.750% Subordinated Debentures due 2053. Pursuant to the RCC, the Company has agreed that it will not repay, redeem, or purchase the Debentures on or before May 15, 2067 (or such earlier date on which the RCC terminates by its terms) unless, subject to certain limitations, the Company has received net cash proceeds in specified amounts from

the sale of common stock or certain other qualifying securities. The promises and covenants contained in the RCC will not apply if (i) S&P upgrades the Company’s issuer credit rating to A or above, (ii) the Company redeems the Debentures due to a tax event, (iii) after notice of redemption has been given by the Company and a market disruption event occurs preventing the Company from raising proceeds in accordance with the RCC, or (iv) the Company repurchases or redeems up to 10% of the outstanding principal of the Debentures in any one-year period, provided that no more than 25% will be so repurchased, redeemed or purchased in any ten-year period.

The RCC terminates in 2067. The RCC will terminate prior to its scheduled termination date if (i) the Debentures are no longer outstanding and the Company has fulfilled its obligations under the RCC or it is no longer applicable, (ii) the holders of a majority of the then-outstanding principal amount of the then-effective series of covered debt consent to agree to the termination of the RCC, (iii) the Company does not have any series of outstanding debt that is eligible to be treated as covered debt under the RCC, (iv) the Debentures are accelerated as a result of an event of default, (v) certain rating agency or change in control events occur, (vi) S&P, or any successor thereto, no longer assigns a solicited rating on senior debt issued or guaranteed by the Company, or (vii) the termination of the RCC would have no effect on the equity credit provided by S&P with respect to the Debentures. An event of default, as defined by the supplemental indenture, includes default in the payment of interest or principal and bankruptcy proceedings.

The administrator of London Interbank Offered Rate (“LIBOR”) has ceased the publication of the one week and two month U.S. dollar (“USD”) LIBOR settings since December 31, 2021, and the remaining USD LIBOR settings will immediately cease following the LIBOR publication on June 30, 2023. The Subordinated Debentures and the 2023 Floating Rate Senior Notes allow for the use of an alternative methodology to determine the interest rate if LIBOR is no longer available. The Federal Reserve Board adopted a final rule that implemented the Adjustable Interest Rate (LIBOR) Act on December 16, 2022. This guidance impacts the alternative rate methodology utilized by the Subordinated Debentures. The Company is evaluating the anticipated impacts of the enacted legislation.

To manage short-term liquidity, the Company maintains a commercial paper program and a credit facility as a potential source of funds. In November, 2020, the Company entered into a new unsecured revolving credit facility agreement with a borrowing limit of $750 million. In November 2022, the maturity date was extended to November 2027 and the USD benchmark rate was amended from LIBOR to Secured Overnight Financing Rate (“SOFR”). This facility contains an increase provision that would allow up to an additional $500 million of borrowing. This facility has a financial covenant requiring the Company not to exceed a 37.5% debt to capitalization ratio as defined

in the agreement. Although the right to borrow under the facility is not subject to a minimum rating requirement, the costs of maintaining the facility and borrowing under it are based on the ratings of the Company’s senior unsecured, unguaranteed long-term debt. The total amount outstanding at any point in time under the combination of the commercial paper program and the credit facility cannot exceed the amount that can be borrowed under the credit facility. No amounts were outstanding under the credit facility as of December 31, 2022 or 2021. The Company had no commercial paper outstanding as of December 31, 2022 or 2021.

The Company paid $323 million, $321 million and $311 million of interest on debt in 2022, 2021 and 2020, respectively.

The Company had $371 million and $401 million of investment-related debt that is reported in other liabilities and accrued expenses as of December 31, 2022 and 2021, respectively.

During 2021, the Company filed a universal shelf registration statement with the Securities and Exchange Commission (“SEC”) that expires in 2024. The registration statement covers an unspecified amount of securities and can be used to issue debt securities, common stock, preferred stock, depositary shares, warrants, stock purchase contracts, stock purchase units and securities of trust subsidiaries.

Common stock The Company had 900 million shares of issued common stock of which 263 million shares were outstanding and 637 million shares were held in treasury as of December 31, 2022. In 2022, the Company acquired 20 million shares at an average cost of $126.56 and reissued 3 million net shares under equity incentive plans.

Preferred stock All outstanding preferred stock represents noncumulative perpetual preferred stock with a $1.00 par value per share and a liquidation preference of $25,000 per share.


Total preferred stock outstanding
	As of December 31,		Aggregate liquidation preference ($ in millions)						Dividend per depository share (1)						Aggregate dividend payment ($ in millions)
	2022	2021	2022		2021		Dividend rate		2022		2021		2020		2022		2021		2020
Series A	—	—	$	—	$	—	5.625	%	$	—	$	—	$	—	$	—	$	—	$	4	(2)




Series G	23,000	23,000	575.0		575.0		5.625	%	1.41		1.41		1.41		32		32		32
Series H	46,000	46,000	1,150.0		1,150.0		5.100	%	1.28		1.28		1.28		59		59		59
Series I	12,000	12,000	300.0		300.0		4.750	%	1.19		1.19		1.19		14		14		13
National General Series (3)															—		9		—
Total	81,000	81,000	$	2,025	$	2,025									$	105	$	114	$	108

(1)Each depository share represents a 1/1,000th interest in a share of preferred stock.

(2)Excludes $10 million related to original issuance costs in preferred stock dividends on the Consolidated Statements of Operations and Consolidated Statements of Shareholders’ Equity as a result of the preferred stock redemptions.

(3)On February 2, 2021 and July 15, 2021, the Company redeemed all outstanding shares of National General Preferred Stock Series A, B and D, and National General Preferred Stock Series C, respectively.

The preferred stock ranks senior to the Company’s common stock with respect to the payment of dividends and liquidation rights. The Company will pay dividends on the preferred stock on a noncumulative basis only when, as and if declared by the Company’s board of directors (or a duly authorized committee of the board) and to the extent that the Company has legally available funds to pay dividends. If dividends are declared on the preferred stock, they will be payable quarterly in arrears at an annual fixed rate. Dividends on the preferred stock are not cumulative. Accordingly, in the event dividends are not declared on the preferred stock for payment on any dividend payment date, then those dividends will cease to be payable. If the Company has not declared a dividend before the dividend payment date for any dividend period, the Company has no obligation to pay dividends for that dividend period, whether or not dividends are declared for any future dividend period. No dividends may be paid or declared on the Company’s common stock and no shares of the Company’s common stock may be repurchased unless

the full dividends for the latest completed dividend period on the preferred stock have been declared and paid or provided for.

The Company is prohibited from declaring or paying dividends on its Series G preferred stock in excess of the amount of net proceeds from an issuance of common stock taking place within 90 days before a dividend declaration date if, on that dividend declaration date, either: (1) the risk-based capital ratios of the largest U.S. property-casualty insurance subsidiaries that collectively account for 80% or more of the net written premiums of U.S. property-casualty insurance business on a weighted average basis were less than 175% of their company action level risk-based capital as of the end of the most recent year; or (2) consolidated net income for the four-quarter period ending on the preliminary quarter end test date (the quarter that is two quarters prior to the most recently completed quarter) is zero or negative and consolidated shareholders’ equity (excluding AOCI, and subject to certain other adjustments relating to changes in U.S. GAAP) as of each of the preliminary

quarter test date and the most recently completed quarter has declined by 20% or more from its level as measured at the end of the benchmark quarter (the date that is ten quarters prior to the most recently completed quarter). If the Company fails to satisfy either of these tests on any dividend declaration date, the restrictions on dividends will continue until the Company is able again to satisfy the test on a dividend declaration date. In addition, in the case of a restriction arising under (2) above, the restrictions on dividends will continue until consolidated shareholders’ equity (excluding AOCI, and subject to certain other adjustments relating to changes in U.S. GAAP) has increased, or has declined by less than 20%, in either case as compared to its level at the end of the benchmark quarter for each dividend payment date as to which dividend restrictions were imposed.

The preferred stock does not have voting rights except with respect to certain changes in the terms of the preferred stock, in the case of certain dividend nonpayments, certain other fundamental corporate events, mergers or consolidations and as otherwise provided by law. If and when dividends have not been declared and paid in full for at least six quarterly dividend periods or their equivalent (whether or not consecutive), the authorized number of directors then

constituting the Company’s board of directors will be increased by two. The holders of the preferred stock, together with the holders of all other affected classes and series of voting parity stock, voting as a single class, will be entitled to elect the two additional members of the board of directors of the Company, subject to certain conditions. The board of directors shall at no time have more than two preferred stock directors.

The preferred stock is perpetual and has no maturity date. The preferred stock is redeemable at the Company’s option in whole or in part, on or after April 15, 2023 for Series G, October 15, 2024 for Series H and January 15, 2025 for Series I at a redemption price of $25,000 per share of preferred stock, plus declared and unpaid dividends. Prior to April 15, 2023 for Series G, October 15, 2024 for Series H and January 15, 2025 for Series I, the preferred stock is redeemable at the Company’s option, in whole but not in part, within 90 days of the occurrence of certain regulatory capital events at a redemption price equal to $25,000 or $25,500 per share or a certain rating agency event at a redemption price equal to $25,000 or $25,500 per share, plus declared and unpaid dividends for Series G and for Series H and I, respectively.

Company Restructuring

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Company Restructuring


Note 14			Company Restructuring

The Company undertakes various programs to reduce expenses. These programs generally involve a reduction in staffing levels, and in certain cases, office closures. Restructuring and related charges primarily include the following costs related to these programs:

•Employee - severance and relocation benefits

•Exit - contract termination penalties and real estate costs primarily related to accelerated amortization of right-of-use assets and related leasehold improvements at facilities to be vacated

The expenses related to these activities are included in the Consolidated Statements of Operations as restructuring and related charges and totaled $51 million, $170 million and $253 million in 2022, 2021 and 2020, respectively.

Restructuring expenses in 2022 are primarily due to the future work environment as the Company reevaluates its facilities footprint and employee costs related to global workforce enablement, including outsourcing various elements of its operations. The Company continues to identify ways to improve

operating efficiency and reduce cost which may result in additional restructuring charges in the future.


Future work environment
($ in millions)
Expected program charges	$	110
2021 expenses	(131)
2022 expenses	(8)
Changes in estimated program costs	41
Remaining program charges	$	12

These charges are primarily recorded in the Allstate Protection segment. Exit costs of this program reflect real estate costs primarily related to accelerated amortization of right-of-use assets and related leasehold improvements at facilities to be vacated. The actions related to the future work environment are substantially complete as of December 31, 2022.


Restructuring activity during the period
($ in millions)	Employee costs		Exit costs		Total liability
Restructuring liability as of December 31, 2021	$	14	$	7	$	21
Expense incurred	31		29		60
Adjustments to liability	(9)		—		(9)
Payments and non-cash charges	(9)		(29)		(38)
Restructuring liability as of December 31, 2022	$	27	$	7	$	34

As of December 31, 2022, the cumulative amount incurred to date for active programs related to employee severance, relocation benefits and exit expenses totaled $29 million for employee costs and $146 million for exit costs.

Commitments, Guarantees and Contingent Liabilities

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments, Guarantees and Contingent Liabilities


Note 15			Commitments, Guarantees and Contingent Liabilities

Shared markets and state facility assessments

The Company is required to participate in assigned risk plans, reinsurance facilities and joint underwriting associations in various states that provide insurance coverage to individuals or entities that otherwise are unable to purchase such coverage from private insurers.

The Company routinely reviews its exposure to assessments from these plans, facilities and government programs. Underwriting results related to these arrangements, which tend to be adverse, have been immaterial to the Company’s results of operations in the last three years. Because of the Company’s participation, it may be exposed to losses that surpass the capitalization of these facilities or assessments from these facilities.

Florida Citizens Castle Key is subject to assessments from Citizens Property Insurance Corporation in the state of Florida (“FL Citizens”), which was initially created by the state of Florida to provide insurance to property owners unable to obtain coverage in the private insurance market. FL Citizens, at the discretion and direction of its Board of Governors, can levy a regular assessment on assessable insurers and assessable insureds for a deficit in any calendar year up to a maximum of the greater of: 2% of the projected deficit or 2% of the aggregate statewide direct written premium for the prior calendar year. The base of assessable insurers includes all property and casualty premiums in the state, except workers’ compensation, medical malpractice, accident and health insurance and policies written under the NFIP. An insurer may recoup a regular assessment through a surcharge to policyholders. In order to recoup this assessment, an insurer must file for a policy surcharge with the Florida Office of Insurance Regulation at least fifteen days prior to imposing the surcharge on policies. If a deficit remains after the regular assessment, FL Citizens can also levy emergency assessments in the current and subsequent years. Companies are required to collect the emergency assessments directly from residential property policyholders and remit to FL Citizens as collected. Currently, the emergency assessment is zero for all policies issued or renewed on or after July 1, 2015.

Louisiana Citizens Louisiana Citizens Property Insurance Corporation (“LA Citizens”) can levy a regular assessment on participating companies for a deficit in any calendar year up to a maximum of the greater of 10% of the calendar year deficit or 10% of Louisiana direct property premiums industry-wide for the prior calendar year. If the plan year deficit exceeds the

amount that can be recovered through regular assessments, LA Citizens may fund the remaining deficit by issuing revenue assessment bonds in the capital markets. LA Citizens then declares emergency assessments each year to provide debt service on the bonds until they are retired. Companies writing assessable lines must surcharge their policyholders emergency assessments in the percentage established annually by LA Citizens and must remit amounts collected to the bond trustee on a quarterly basis. Emergency assessments to pay off bonds issued in 2007 for the hurricanes of 2005 will continue until 2025.

Facilities such as FL Citizens and LA Citizens are generally designed so that the ultimate cost is borne by policyholders; however, the exposure to assessments from these facilities and the availability of recoupments or premium rate increases may not offset each other in the Company’s financial statements. Moreover, even if they do offset each other, they may not offset each other in financial statements for the same fiscal period due to the ultimate timing of the assessments and recoupments or premium rate increases, as well as the possibility of policies not being renewed in subsequent years.

California Earthquake Authority Exposure to certain potential losses from earthquakes in California is limited by the Company’s participation in the California Earthquake Authority (“CEA”), which provides insurance for California earthquake losses. The CEA is a privately-financed, publicly-managed state agency created to provide insurance coverage for earthquake damage. Insurers selling homeowners insurance in California are required to offer earthquake insurance to their customers either through their company or by participation in the CEA. The Company’s homeowners policies continue to include coverages for losses caused by explosions, theft, glass breakage and fires following an earthquake, which are not underwritten by the CEA.

As of September 30, 2022, the CEA’s capital balance was approximately $5.60 billion. Should losses arising from an earthquake cause a deficit in the CEA, an additional $1.60 billion would be obtained from the proceeds of revenue bonds the CEA may issue, an existing $9.30 billion reinsurance layer, $1.00 billion from policy surcharge, and finally, if needed, assessments on participating insurance companies. Participating insurers are required to pay an assessment, currently estimated not to exceed $1.70 billion, if the capital of the CEA falls below $350 million. Within the limits previously described, the assessment could be intended to restore the CEA’s capital to a level of $350 million. There is no provision that allows

insurers to recover assessments through a premium surcharge or other mechanism. The CEA’s projected aggregate claim paying capacity is $19.10 billion as of September 30, 2022 and if an event were to result in claims greater than its capacity, affected policyholders may be paid a prorated portion of their covered losses, paid on an installment basis, or no payments may be made if the claim paying capacity of the CEA is insufficient.

All future assessments on participating CEA insurers are based on their CEA insurance market share as of December 31 of the preceding year. As of December 31, 2022, the Company’s market share was 8.3%. The Company does not expect its market share to materially change. At this level, the Company’s maximum possible CEA assessment was $138 million during 2022. These amounts are re-evaluated by the board of directors of the CEA on an annual basis. Accordingly, assessments from the CEA for a particular quarter or annual period may be material to the results of operations and cash flows, but not the financial position of the Company. Management believes the Company’s exposure to earthquake losses in California has been significantly reduced as a result of its participation in the CEA.

Texas Windstorm Insurance Association The Company participates as a member of the Texas Windstorm Insurance Association (“TWIA”), which provides wind and hail property coverage to coastal risks unable to procure coverage in the voluntary market. Wind and hail coverage is written on a TWIA-issued policy. TWIA follows a funding structure first utilizing currently available funds set aside from current and prior years. Under the current law, to the extent losses exceed premiums received from policyholders, TWIA utilizes a combination of reinsurance, TWIA issued securities, as well as member and policyholder assessments to fund loss payments.

Any assessments from TWIA for a particular quarter or annual period may be material to the results of operations and cash flows, but not to the financial position of the Company.

Texas Fair Plan Association The Company participates as a member of the Texas Fair Plan Association (“FAIR Plan”), which provides residential property insurance to inland areas designated as underserved by the Commissioner of Insurance and the applicant(s) are unable to procure coverage in the private market. The FAIR Plan issues insurance policies, like an insurance company, and it also functions as a pooling mechanism that allocates premiums, claims and expenses back to the insurance industry. Insurers are permitted to recover the assessment through either a premium surcharge applied to existing customers over a three-year period or increased rates, but the ability to fully recover the assessment may be impacted by market conditions or other factors.

North Carolina Joint Underwriters Association The North Carolina Joint Underwriters Association (“NCJUA”) was created to provide property insurance for properties (other than the state’s beach and coastal areas) that private insurers are not otherwise willing to

insure. All insurers licensed to write property insurance in North Carolina are members of the NCJUA. Premiums, losses and expenses of the NCJUA are shared by the member companies in proportion to their respective North Carolina property insurance writings. Member companies participate in plan deficits or surpluses based on their participation ratios, which are determined annually. The Company had a $5 million receivable from the NCJUA at December 31, 2022 representing its participation in the NCJUA’s surplus of $18 million for all open years.

North Carolina Insurance Underwriting Association The North Carolina Insurance Underwriting Association (“NCIUA”) provides property insurance, including windstorm and hail coverage, for properties located in the state’s beach and coastal areas that private insurers are not otherwise willing to insure. All insurers licensed to write residential and commercial property insurance in North Carolina are members of the NCIUA. Members are assessed in proportion to their North Carolina residential and commercial property insurance writings, which is determined annually and varies by coverage, for plan deficits. As of December 31, 2022, the NCIUA had a surplus of $853 million. No member company is entitled to the distribution of any portion of the NCIUA’s surplus. The Company does not recognize any interest related to this surplus. Legislation in 2009 capped insurers’ assessments for losses incurred in any calendar year at $1.00 billion. Subsequent to an industry assessment of $1.00 billion, if the plan continues to require funding, it may authorize insurers to assess a 10% catastrophe recovery charge on each property insurance policy statewide to be remitted to the plan.

Other programs The Company is also subject to assessments by the NCRF and the FHCF, which are described in Note 11.

Guaranty funds

Under state insurance guaranty fund laws, insurers doing business in a state can be assessed, up to prescribed limits, for certain obligations of insolvent insurance companies to policyholders and claimants. Amounts assessed to each company are typically related to its proportion of business written in each state. The Company’s policy is to accrue assessments when the entity for which the insolvency relates has met its state of domicile’s statutory definition of insolvency, the amount of the loss is reasonably estimable and the related premium upon which the assessment is based is written. In most states, the definition is met with a declaration of financial insolvency by a court of competent jurisdiction. In certain states there must also be a final order of liquidation. Since most states allow a credit against premium or other state related taxes for assessments, an asset is recorded based on paid and accrued assessments for the amount the Company expects to recover on the respective state’s tax return and is realized over the period allowed by each state. As of December 31, 2022 and 2021, the liability balance included in other liabilities and accrued expenses was $29 million and $17 million, respectively. The related

premium tax offsets included in other assets were $6 million and $7 million as of December 31, 2022 and 2021, respectively.

Guarantees

In the normal course of business, the Company provides standard indemnifications to contractual counterparties in connection with numerous transactions, including acquisitions and divestitures. The types of indemnifications typically provided include indemnifications for breaches of representations and warranties, taxes and certain other liabilities, such as third-party lawsuits. The indemnification clauses are often standard contractual terms and are entered into in the normal course of business based on an assessment that the risk of loss would be remote. The terms of the indemnifications vary in duration and nature. In many cases, the maximum obligation is not explicitly stated and the contingencies triggering the obligation to indemnify have not occurred and are not expected to occur. Consequently, the maximum amount of the obligation under such indemnifications is not determinable. Historically, the Company has not made any material payments pursuant to these obligations.

Related to the sale of ALNY on October 1, 2021, AIC agreed to indemnify Wilton Reassurance Company in connection with certain representations, warranties and covenants of AIC, and certain liabilities specifically excluded from the transaction, subject to specific contractual limitations regarding AIC’s maximum obligation. Management does not believe these indemnifications will have a material effect on results of operations, cash flows or financial position of the Company.

Related to the sale of ALIC and Allstate Assurance Company on November 1, 2021, AIC and Allstate Financial Insurance Holdings Corporation (collectively, the “Sellers”) agreed to indemnify Everlake US Holdings Company in connection with certain representations, warranties and covenants of the Sellers, and certain liabilities specifically excluded from the transaction, subject to specific contractual limitations regarding the Sellers’ maximum obligation. Management does not believe these indemnifications will have a material effect on results of operations, cash flows or financial position of the Company.

The aggregate liability balance related to all guarantees was not material as of December 31, 2022.

Regulation and compliance

The Company is subject to extensive laws, regulations, administrative directives, and regulatory actions. From time to time, regulatory authorities or legislative bodies seek to influence and restrict premium rates, require premium refunds to policyholders, require reinstatement of terminated policies, prescribe rules or guidelines on how affiliates compete in the marketplace, restrict the ability of insurers to cancel or non-renew policies, require insurers to continue to write new policies or limit their ability to write new policies, limit insurers’ ability to change coverage terms or to impose underwriting

standards, impose additional regulations regarding agency and broker compensation, regulate the nature of and amount of investments, impose fines and penalties for unintended errors or mistakes, impose additional regulations regarding cybersecurity and privacy, and otherwise expand overall regulation of insurance products and the insurance industry. In addition, the Company is subject to laws and regulations administered and enforced by federal agencies, international agencies, and other organizations, including but not limited to the Securities and Exchange Commission (“SEC”), the Financial Industry Regulatory Authority, the U.S. Equal Employment Opportunity Commission, and the U.S. Department of Justice. The Company has established procedures and policies to facilitate compliance with laws and regulations, to foster prudent business operations, and to support financial reporting. The Company routinely reviews its practices to validate compliance with laws and regulations and with internal procedures and policies. As a result of these reviews, from time to time the Company may decide to modify some of its procedures and policies. Such modifications, and the reviews that led to them, may be accompanied by payments being made and costs being incurred. The ultimate changes and eventual effects of these actions on the Company’s business, if any, are uncertain.

Legal and regulatory proceedings and inquiries

The Company and certain subsidiaries are involved in a number of lawsuits, regulatory inquiries, and other legal proceedings arising out of various aspects of its business.

Background These matters raise difficult and complicated factual and legal issues and are subject to many uncertainties and complexities, including the underlying facts of each matter; novel legal issues; variations between jurisdictions in which matters are being litigated, heard, or investigated; changes in assigned judges; differences or developments in applicable laws and judicial interpretations; judges reconsidering prior rulings; the length of time before many of these matters might be resolved by settlement, through litigation, or otherwise; adjustments with respect to anticipated trial schedules and other proceedings; developments in similar actions against other companies; the fact that some of the lawsuits are putative class actions in which a class has not been certified and in which the purported class may not be clearly defined; the fact that some of the lawsuits involve multi-state class actions in which the applicable law(s) for the claims at issue is in dispute and therefore unclear; and the challenging legal environment faced by corporations and insurance companies.

The outcome of these matters may be affected by decisions, verdicts, and settlements, and the timing of such decisions, verdicts, and settlements, in other individual and class action lawsuits that involve the Company, other insurers, or other entities and by other legal, governmental, and regulatory actions that involve the Company, other insurers, or other entities.

The outcome may also be affected by future state or federal legislation, the timing or substance of which cannot be predicted.

In the lawsuits, plaintiffs seek a variety of remedies which may include equitable relief in the form of injunctive and other remedies and monetary relief in the form of contractual and extra-contractual damages. In some cases, the monetary damages sought may include punitive or treble damages. Often specific information about the relief sought, such as the amount of damages, is not available because plaintiffs have not requested specific relief in their pleadings. When specific monetary demands are made, they are often set just below a state court jurisdictional limit in order to seek the maximum amount available in state court, regardless of the specifics of the case, while still avoiding the risk of removal to federal court. In Allstate’s experience, monetary demands in pleadings bear little relation to the ultimate loss, if any, to the Company.

In connection with regulatory examinations and proceedings, government authorities may seek various forms of relief, including penalties, restitution, and changes in business practices. The Company may not be advised of the nature and extent of relief sought until the final stages of the examination or proceeding.

Accrual and disclosure policy The Company reviews its lawsuits, regulatory inquiries, and other legal proceedings on an ongoing basis and follows appropriate accounting guidance when making accrual and disclosure decisions. The Company establishes accruals for such matters at management’s best estimate when the Company assesses that it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The Company does not establish accruals for such matters when the Company does not believe both that it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. The Company’s assessment of whether a loss is reasonably possible or probable is based on its assessment of the ultimate outcome of the matter following all appeals. The Company does not include potential recoveries in its estimates of reasonably possible or probable losses. Legal fees are expensed as incurred.

The Company continues to monitor its lawsuits, regulatory inquiries, and other legal proceedings for further developments that would make the loss contingency both probable and estimable, and accordingly accruable, or that could affect the amount of accruals that have been previously established. There may continue to be exposure to loss in excess of any amount accrued. Disclosure of the nature and amount of an accrual is made when there have been sufficient legal and factual developments such that the Company’s ability to resolve the matter would not be impaired by the disclosure of the amount of accrual.

When the Company assesses it is reasonably possible or probable that a loss has been incurred, it discloses the matter. When it is possible to estimate the reasonably possible loss or range of loss above the amount accrued, if any, for the matters disclosed, that

estimate is aggregated and disclosed. Disclosure is not required when an estimate of the reasonably possible loss or range of loss cannot be made.

For certain of the matters described below in the “Claims related proceedings” and “Other proceedings” subsections, the Company is able to estimate the reasonably possible loss or range of loss above the amount accrued, if any. In determining whether it is possible to estimate the reasonably possible loss or range of loss, the Company reviews and evaluates the disclosed matters, in conjunction with counsel, in light of potentially relevant factual and legal developments.

These developments may include information learned through the discovery process, rulings on dispositive motions, settlement discussions, information obtained from other sources, experience from managing these and other matters, and other rulings by courts, arbitrators or others. When the Company possesses sufficient appropriate information to develop an estimate of the reasonably possible loss or range of loss above the amount accrued, if any, that estimate is aggregated and disclosed below. There may be other disclosed matters for which a loss is probable or reasonably possible, but such an estimate is not possible. Disclosure of the estimate of the reasonably possible loss or range of loss above the amount accrued, if any, for any individual matter would only be considered when there have been sufficient legal and factual developments such that the Company’s ability to resolve the matter would not be impaired by the disclosure of the individual estimate.

The Company currently estimates that the aggregate range of reasonably possible loss in excess of the amount accrued, if any, for the disclosed matters where such an estimate is possible is zero to $135 million, pre-tax. This disclosure is not an indication of expected loss, if any. Under accounting guidance, an event is “reasonably possible” if “the chance of the future event or events occurring is more than remote but less than likely” and an event is “remote” if “the chance of the future event or events occurring is slight.” This estimate is based upon currently available information and is subject to significant judgment and a variety of assumptions and known and unknown uncertainties. The matters underlying the estimate will change from time to time, and actual results may vary significantly from the current estimate. The estimate does not include matters or losses for which an estimate is not possible. Therefore, this estimate represents an estimate of possible loss only for certain matters meeting these criteria. It does not represent the Company’s maximum possible loss exposure. Information is provided below regarding the nature of all of the disclosed matters and, where specified, the amount, if any, of plaintiff claims associated with these loss contingencies.

Due to the complexity and scope of the matters disclosed in the “Claims related proceedings” and “Other proceedings” subsections below and the many uncertainties that exist, the ultimate outcome of these matters cannot be predicted and in the Company’s judgment, a loss, in excess of amounts accrued, if any,

is not probable. In the event of an unfavorable outcome in one or more of these matters, the ultimate liability may be in excess of amounts currently accrued, if any, and may be material to the Company’s operating results or cash flows for a particular quarterly or annual period. However, based on information currently known to it, management believes that the ultimate outcome of all matters described below, as they are resolved over time, is not likely to have a material effect on the financial position of the Company.

Claims related proceedings The Company is managing various disputes in Florida that raise challenges to the Company’s practices, processes, and procedures relating to claims for personal injury protection benefits under Florida auto policies. Medical providers continue to pursue litigation under various theories that challenge the amounts that the Company pays under the personal injury protection coverage, seeking additional benefit payments, as well as applicable interest, penalties and fees. There is a pending lawsuit, Revival Chiropractic v. Allstate Insurance Company, et al. (M.D. Fla., filed January 2019; appeal pending, 11th Circuit Court of Appeals), where the federal district court denied class certification and plaintiff’s request to file a renewed motion for class certification. In Revival, on June 2, 2022, the 11th Circuit certified to the Florida Supreme Court Allstate’s appeal of the federal district court’s interpretation of the state personal injury protection statute. The 11th Circuit is holding determination on plaintiff’s class certification appeal pending the outcome of the Florida Supreme Court certification. The oral argument before the Florida Supreme Court is scheduled for March 8, 2023. The Company is also defending litigation involving individual plaintiffs.

The Company is defending putative class actions in various courts that raise challenges to the Company’s depreciation practices in homeowner property claims. In these lawsuits, plaintiffs generally allege that, when calculating actual cash value, the costs of “non-materials” such as labor, general contractor’s overhead and profit, and sales tax should not be subject to depreciation. The Company is currently defending the following lawsuits on this issue: Clark v. Allstate Vehicle and Property Insurance Company (Circuit Court of Independence Co., Ark., filed February 2016); Sims, et al. v. Allstate Fire and Casualty Insurance Company, et al. (W.D. Tex. filed June 2022); Thompson, et al. v. Allstate Insurance Company (Circuit Court of Cole Co., Mo. filed June 2022); and Hill v. Allstate Vehicle and Property Insurance Company (Circuit Court of Cole Co., Mo. filed October 2022). No classes have been certified in any of these matters. A settlement-in-principle has been reached in the following cases: Perry v. Allstate Indemnity Company, et al. (N.D. Ohio filed May 2016); Lado v. Allstate Vehicle and Property Insurance Company (S.D. Ohio filed March 2020); Maniaci v. Allstate Insurance Company (N.D. Ohio filed March 2020); and Ferguson-Luke, et al. v. Allstate Property and Casualty Insurance Company (N.D. Ohio filed April 2020). The court granted preliminary approval of a class-wide settlement in Hester, et al. v. Allstate Vehicle and Property Insurance Company, et al. (St. Clair Co., Ill. filed June 2020) (as

part of the proposed class-wide settlement, the plaintiff and defendant in Thaxton v. Allstate Indemnity Company were added to the Hester complaint). A motion for preliminary approval of a class-wide settlement is pending in Mitchell, et al. v. Allstate Vehicle and Property Insurance Company, et al. (S.D. Ala. filed August 2021).

The Company is defending putative class actions pending in multiple states alleging that the Company underpays total loss vehicle physical damage claims on auto policies. The allegedly systematic underpayments result from one or more of the following theories: (a) the third party valuation tool used by the Company as part of a comprehensive adjustment process is allegedly flawed, biased, or contrary to applicable law; (b) the Company allegedly does not pay sales tax, title fees, registration fees, and/or other specified fees that are allegedly mandatory under policy language or state legal authority; or (c) after paying for the value of the loss vehicle, then the Company allegedly is not entitled to retain the residual salvage value, and the Company allegedly must pay salvage value to the owner (or if the loss vehicle is retained by the owner, then the Company allegedly may not apply any offset for the salvage value).

The following cases are currently pending against the Company: Olberg v. Allstate Insurance Company, Allstate Fire and Casualty Insurance Company, and CCC Information Services, Inc. (W.D. Wash., filed April 2018); Kronenberg v. Allstate Insurance Company and Allstate Fire and Casualty Insurance Company (E.D.N.Y., filed December 2018); Durgin v. Allstate Property and Casualty Insurance Company (W.D. La., filed June 2019); Williams v. Esurance Property and Casualty Insurance Company (C.D. Cal., filed September 2020); Cotton v. Allstate Fire and Casualty Insurance Company (Cir. Ct. of Cook Co. Ill., Chancery Div., filed October 2020); Romaniak v. Esurance Property and Casualty Insurance Company (N.D. Ohio, filed December 2020); Bass v. Imperial Fire and Casualty Insurance Company (W.D. La., filed February 2022); Cummings v. Allstate Property and Casualty Insurance Company (M.D. La., filed April 2022); Slaughter v. Esurance Property and Casualty Insurance Company (Cir. Ct. of Cook Co, Ill., Chancery Div., filed September 2022); Kanak v. Allstate Fire and Casualty Insurance Company (Cir. Ct. of Cook Co., Ill., Chancery Div., filed September 2022).

None of the courts in any of the pending matters has ruled on class certification.

Other proceedings The Company is defending against an investigatory hearing before the California Insurance Commissioner concerning the private passenger automobile insurance rating practices of Allstate Insurance Company and Allstate Indemnity Company in California. The investigatory hearing is captioned: In the Matter of the Rating Practices of Allstate Insurance Company and Allstate Indemnity Company. Pursuant to the Notice of Hearing issued by the California Insurance Commissioner, the California Insurance Commissioner is investigating: (1) whether Allstate has potentially violated California insurance law by using illegal price optimization; (2) how Allstate

implemented any such potentially illegal price optimization in its private passenger auto insurance rates and/or class plans; and (3) how such potentially illegal price optimization impacted Allstate’s private passenger auto insurance policyholders. Fact discovery has been completed in the investigatory hearing. The hearing is scheduled for May 22, 2023.

In re The Allstate Corp. Securities Litigation is a certified class action filed on November 11, 2016 in the United States District Court for the Northern District of Illinois against the Company and two of its officers asserting claims under the federal securities laws. Plaintiffs allege that they purchased Allstate common stock during the class period and suffered damages as the result of the conduct alleged. Plaintiffs seek an unspecified amount of damages, costs, attorney’s fees, and other relief as the court deems appropriate. Plaintiffs allege that the Company and certain senior officers made allegedly material misstatements or omissions concerning claim frequency statistics and the reasons for a claim frequency increase for Allstate brand auto insurance between October 2014 and August 3, 2015.

Plaintiffs further allege that a senior officer engaged in stock option exercises during that time allegedly while in possession of material nonpublic information about Allstate brand auto insurance claim frequency. The Company, its chairman, president and chief executive officer, and its former president are the named defendants. After the court denied their motion to dismiss on February 27, 2018, defendants answered the complaint, denying plaintiffs’ allegations that there was any misstatement or omission or other misconduct. On June 22, 2018, plaintiffs filed their motion for class certification. The court allowed the lead plaintiffs to amend their complaint to add the City of Providence Employee Retirement System as a proposed class representative and on September 12, 2018, the amended complaint was filed. A class was

certified on March 26, 2019, vacated by the U.S. Court of Appeals for the Seventh Circuit on July 16, 2020 and remanded for further consideration by the district court. On December 21, 2020, the district court again granted plaintiffs’ motion for class certification and certified a class consisting of all persons who purchased Allstate common stock between October 29, 2014 and August 3, 2015. Defendants’ petition for permission to appeal this ruling was denied on January 28, 2021. Following the close of discovery defendants moved for summary judgment on March 23, 2022. On July 26, 2022 the court entered its order granting summary judgment in part (as to plaintiffs’ claims relating to certain statements made in October 2014) and denying it as to the remainder of plaintiffs’ claims. On January 10, 2023, the parties filed a joint pre-trial order. A pre-trial conference is scheduled for March 2, 2023.

The Company is continuing to defend two putative class actions in California federal court, Holland Hewitt v. Allstate Life Insurance Company (E.D. Cal., filed May 2020) and Farley v. Lincoln Benefit Life Company (E.D. Cal., filed Dec. 2020), following the sale of ALIC. No classes have been certified in these matters. In these cases, plaintiffs generally allege that the defendants failed to comply with certain California statutes which address contractual grace periods and lapse notice requirements for certain life insurance policies. Plaintiffs claim that these statutes apply to life insurance policies that existed before the statutes’ effective date. The plaintiffs seek damages and injunctive relief. Similar litigation is pending against other insurance carriers. In August 2021, the California Supreme Court in McHugh v. Protective Life, a matter involving another insurer, determined that the statutory notice requirements apply to life insurance policies issued before the statutes’ effective date. The Company asserts various defenses to plaintiffs’ claims and to class certification.

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes


Note 16			Income Taxes

The Company and its eligible domestic subsidiaries file a U.S. consolidated federal income tax return. The Company also files tax returns in various states and foreign jurisdictions. Tax liabilities and benefits realized by the consolidated group are allocated as generated by the respective entities.

Deferred income taxes result from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements that will result in taxable or deductible amounts in future years. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in years in which those temporary differences are expected to be recovered or settled. Deferred tax assets and liabilities are adjusted through income tax expense as changes in tax laws or rates are enacted.

Inflation Reduction Act of 2022 The Inflation Reduction Act of 2022 (“Act”), which contains several tax-related provisions, was signed into law in August 2022. The Act creates a 15% corporate alternative

minimum tax (“CAMT”) on certain large corporations and an excise tax of 1% on stock repurchases by publicly traded U.S. corporations, both effective after December 31, 2022. The excise tax on common stock repurchases will be classified as an additional cost of the stock acquired included in treasury stock in shareholders' equity. The Company has determined that it is considered an “applicable corporation” under the rules of CAMT, and as such, it is expected to perform the CAMT computation starting January 1, 2023; however, a reasonable estimate cannot be made as of the filing date.

Coronavirus Aid, Relief and Economic Security Act The Company qualified and claimed certain employer payroll tax credits that are allowed under the Coronavirus Aid, Relief and Economic Security Act. For the year ended December 31, 2022 and 2021, the Company recorded $3 million and $21 million of refundable employee retention tax credits reported in property and casualty claims and claims expense in the Consolidated Statements of Operations, respectively.

Regulatory tax examinations On January 4, 2021 and October 1, 2021, the Company acquired National General and SafeAuto, respectively. For tax years prior to the acquisition, National General is subject to separate Internal Revenue Service (“IRS”) audits. The IRS has completed its exam of Allstate’s tax years prior to 2017 and National General tax years prior to 2015. Currently, the Company is under exam for the 2017 and 2018 tax years and National General is under exam for the 2015 through 2019 tax years. The Company believes that adequate provision has been made in the Consolidated Financial Statements for any potential adjustments that may result from IRS examinations or any other tax authorities related to all open tax years.

Unrecognized tax benefits The Company recognizes tax positions in the consolidated financial statements only when it is more likely than not that the position will be sustained on examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized on settlement. A liability is established for differences between positions taken in a tax return and amounts recognized in the consolidated financial statements.


Reconciliation of the change in the amount of unrecognized tax benefits
	For the years ended December 31,
($ in millions)	2022		2021		2020
Balance – beginning of year	$	17	$	12	$	70
Acquisitions	—		5		—




Decrease for settlements	—		—		(58)

Balance – end of year	$	17	$	17	$	12

The Company believes that it is reasonably possible that a portion of the unrecognized tax benefits could decrease within the next twelve months as a result of the lapse of the applicable statute of limitations.


Components of the deferred income tax assets and liabilities
	As of December 31,
($ in millions)	2022		2021
Deferred tax assets
Unearned premium reserves	$	815	$	742
Unrealized net capital losses	608		—
Discount on loss reserves	228		169
Research & development capitalization	219		—
Accrued compensation	128		151

Net operating loss carryover	97		88
Other postretirement benefits	15		31
Pension	10		—

Other assets	95		90
Total deferred tax assets before valuation allowance	2,215		1,271
Valuation allowance	(34)		(24)
Total deferred tax assets after valuation allowance	2,181		1,247
Deferred tax liabilities
DAC	(1,013)		(924)
Investments	(431)		(666)
Intangible assets	(147)		(219)

Unrealized net capital gains	—		(163)
Pension	—		(9)
Other liabilities	(204)		(99)
Total deferred tax liabilities	(1,795)		(2,080)
Net deferred tax assets (liabilities)	$	386	$	(833)

As of December 31, 2022, the Company has U.S. federal and foreign net operating loss (“NOL”) carryforwards, some of which will expire on various dates from 2025 through 2037 as indicated in the table below. In assessing the realizability of gross deferred tax assets, management considers whether it is more likely than not that some portion or all of the gross deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment, as well as limitations on use in future periods. Accordingly, management believes that it is more likely than not that the benefit from certain NOL carryforwards from recent acquisitions will not be realized. The Company has a valuation allowance of $34 million on the deferred tax assets related to these NOL carryforwards.

The provisions of the Tax Cuts and Jobs Act of 2017 eliminated the 20-year carryforward period and made it indefinite for federal net operating losses generated in tax years after December 31, 2017. For such amounts generated prior to 2018, the 20-year carryforward period continues to apply.


Components of the net operating loss carryforwards as of December 31, 2022
($ in millions)	20-Year Carryforward Expires in 2025-2037		Indefinite Carryforward Period		Total
US Federal	$	221	$	9	$	230
Foreign	—		219		219
Total	$	221	$	228	$	449


Components of income tax expense
	For the years ended December 31,
($ in millions)	2022		2021		2020
Current	$	(36)	$	841	$	1,480
Deferred	(458)		448		(107)
Total income tax (benefit) expense	$	(494)	$	1,289	$	1,373

The Company paid income taxes of $95 million, $1.05 billion and $1.48 billion in 2022, 2021 and 2020, respectively.

The Company had current income tax receivable of $677 million and $370 million as of December 31, 2022 and 2021, respectively.


Reconciliation of the statutory federal income tax rate to the effective income tax rate
	For the years ended December 31,
($ in millions)	2022				2021				2020
(Loss) income before income taxes	$	(1,858)			$	6,448			$	6,802

Statutory federal income tax rate on income from operations	(390)		21.0	%	1,354		21.0	%	1,428		21.0	%
State income taxes	—		—		13		0.2		31		0.4
Tax credits	(55)		3.0		(42)		(0.6)		(24)		(0.4)
Tax-exempt income	(17)		0.9		(18)		(0.3)		(23)		(0.3)
Share-based payments	(22)		1.2		(18)		(0.3)		(30)		(0.4)



Other	(10)		0.5		—		—		(9)		(0.1)
Effective income tax rate on income from operations	$	(494)	26.6	%	$	1,289	20.0	%	$	1,373	20.2	%

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Statutory Financial Information and Dividend Limitations

12 Months Ended

Dec. 31, 2022

Statutory Financial Information and Dividend Limitations [Abstract]

Statutory Financial Information and Dividend Limitations


Note 17			Statutory Financial Information and Dividend Limitations

Allstate’s domestic property and casualty and life, accident and health insurance subsidiaries prepare their statutory-basis financial statements in conformity with accounting practices prescribed or permitted by the insurance department of the applicable state of domicile. Prescribed statutory accounting practices include a variety of publications of the NAIC, as well as state laws, regulations and general administrative rules. Permitted statutory accounting practices encompass all accounting practices not so prescribed.

All states require domiciled insurance companies to prepare statutory-basis financial statements in conformity with the NAIC Accounting Practices and Procedures Manual, subject to any deviations prescribed or permitted by the applicable insurance commissioner or director. Statutory accounting practices differ from GAAP primarily since they require charging policy acquisition costs to expense as incurred, establishing life insurance reserves based on different actuarial assumptions, and valuing certain investments and establishing deferred taxes on a different basis.


Statutory net income (loss) and capital and surplus of Allstate’s domestic insurance subsidiaries
	Net income (loss)						Capital and surplus
($ in millions)	2022		2021		2020		2022		2021
Amounts by major business type:
Property and casualty insurance	$	(1,653)	$	5,975	$	6,232	$	14,997	$	21,186
Life, accident and health insurance	70		96		95		279		322
Life and annuity business sold	—		1,642		(81)		—		—
Amount per statutory accounting practices	$	(1,583)	$	7,713	$	6,246	$	15,276	$	21,508

Dividend Limitations

There are no regulatory restrictions that limit the payment of dividends by the Corporation, except those generally applicable to corporations incorporated in Delaware. Dividends are payable only out of certain components of shareholders’ equity as permitted by Delaware law. However, the ability of the Corporation to pay dividends is dependent on business conditions, income, cash requirements of the Company, receipt of dividends from AIC and other relevant factors.

The payment of shareholder dividends by AIC without the prior approval of the Illinois Department of Insurance (“IL DOI”) is limited to formula amounts based on net income and capital and surplus, determined in conformity with statutory accounting practices, as well as the timing and amount of dividends paid in the preceding twelve months. AIC paid dividends of $4.20 billion in 2022. The maximum amount of dividends AIC will be able to pay without prior IL DOI approval at a given point in time during 2023 is $1.22 billion, less dividends paid during the preceding twelve months measured at that point in time. The payment of a dividend in excess of this amount requires 30 days advance written notice to the IL DOI. The dividend is deemed approved, unless the IL DOI disapproves it within the 30-day notice period. Additionally, any dividend must be paid out of unassigned surplus excluding unrealized appreciation from investments, which for AIC totaled $7.45 billion as of December 31, 2022, and cannot result in capital and surplus being less than the minimum amount required by law.

Under state insurance laws, insurance companies are required to maintain paid up capital of not less than the minimum capital requirement applicable to the types of insurance they are authorized to write. Insurance companies are also subject to risk-based capital (“RBC”) requirements adopted by state insurance regulators. A company’s “authorized control level RBC” is calculated using various factors applied to certain financial balances and activity. Companies that do not maintain adjusted statutory capital and surplus at a level in excess of the company action level RBC, which is two times authorized control level RBC, are required to notify and file a RBC remediation plan to the domiciliary regulator and provide a copy of the remediation plan to state insurance regulators in which the insurer is authorized to do business. Company action level RBC is significantly in excess of the minimum capital requirements. Total adjusted statutory capital and surplus and authorized control level RBC of AIC were $12.24 billion and $2.96 billion, respectively, as of December 31, 2022. Most of the Corporation’s insurance subsidiaries are subsidiaries of or reinsure all of their business to AIC. AIC’s subsidiaries are included as a component of AIC’s total statutory capital and surplus.

The amount of restricted net assets, as represented by the Corporation’s investment in its insurance subsidiaries, was $19.61 billion as of December 31, 2022.

Intercompany transactions

Notification and approval of intercompany lending activities is also required by the IL DOI for transactions that exceed a level that is based on a formula using statutory admitted assets and statutory surplus.

Benefit Plans

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Benefit Plans


Note 18			Benefit Plans

Pension and other postretirement plans

Defined benefit pension plans cover most full-time employees, certain part-time employees and employee-agents. Benefits under the pension plans are based upon the employee’s length of service, eligible annual compensation and, prior to January 1, 2014, either a cash balance or final average pay formula. A cash balance formula applies to all eligible employees hired after August 1, 2002. Eligible employees hired before August 1, 2002 chose between the cash balance formula and the final average pay formula. In July 2013, the Company amended its primary plans effective January 1, 2014 to introduce a new cash balance formula to replace the previous formulas (including the final average pay formula and the previous cash

balance formula) under which eligible employees accrue benefits.

The Company also provides a medical coverage subsidy for eligible employees hired before January 1, 2003, including their eligible dependents, when they retire and certain life insurance benefits for eligible retirees (“postretirement benefits”). Effective January 1, 2021, the Company eliminated the medical coverage subsidy for employees who were not eligible to retire as of December 31, 2020.

Qualified employees may become eligible for a medical subsidy if they retire in accordance with the terms of the applicable plans and are insured under the Company’s group plans or other approved plans in accordance with the plan’s participation requirements. The Company shares the cost of retiree medical

benefits with non Medicare-eligible retirees based on years of service, with the Company’s share being subject to a 5% limit on future annual medical cost inflation after retirement. For Medicare-eligible retirees, the Company provides a fixed Company contribution based on years of service and other factors, which is not subject to adjustments for inflation.

In July 2013, the Company amended the plan to eliminate the life insurance benefits effective January 1, 2014 for current eligible employees and effective January 1, 2016 for eligible retirees who retired after 1989. Subject to a court order, the Company paid life insurance premiums for certain retiree plaintiffs until their lawsuit seeking to keep their life insurance benefits intact was resolved. In September 2020, the court entered summary judgment in favor of the Company and dismissed the action, releasing the Company from the order requiring the continued payment of premiums for certain retirees. In December 2021, the Court of Appeals affirmed summary judgment in favor of the Company. In October 2022, the U.S. Supreme Court denied the plaintiffs' petition for appeal. On December 13, 2022, the trial court denied the plaintiffs' motions to vacate the summary judgment decision and seek further discovery. On January 12, 2023, the plaintiffs filed a notice of appeal with respect to the December rulings.

The Company has reserved the right to modify or terminate its benefit plans at any time and for any reason.

Obligations and funded status

The Company calculates benefit obligations based upon generally accepted actuarial methodologies using the projected benefit obligation (“PBO”) for pension plans and the accumulated postretirement benefit obligation (“APBO”) for other postretirement plans. Pension costs and other postretirement obligations are determined using a December 31 measurement date. The benefit obligations represent the actuarial present value of all benefits attributed to employee service rendered as of the measurement date. The PBO is measured using the pension benefit formulas and assumptions. A plan’s funded status is calculated as the difference between the benefit obligation and the fair value of plan assets. The Company’s funding policy for the pension plans is to make contributions at a level in accordance with regulations under the Internal Revenue Code (“IRC”) and generally accepted actuarial principles. The Company’s other postretirement benefit plans are not funded.


Change in projected benefit obligation, plan assets and funded status
	As of December 31,
	Pension benefits				Postretirement benefits
($ in millions)	2022		2021		2022		2021
Change in projected benefit obligation
Benefit obligation, beginning of year	$	6,500	$	7,763	$	284	$	318
Service cost	101		103		1		1
Interest cost	219		191		10		8
Participant contributions	—		—		16		16
Remeasurement of projected benefit obligation (gains) losses	(1,382)		(309)		(62)		(16)
Benefits paid	(894)		(1,242)		(42)		(43)

Translation adjustment and other	(33)		(6)		(4)		—

Benefit obligation, end of year	$	4,511	$	6,500	$	203	$	284

Change in plan assets
Fair value of plan assets, beginning of year	$	6,525	$	6,987
Actual return on plan assets	(1,189)		764
Employer contribution	24		22
Benefits paid	(894)		(1,242)
Translation adjustment and other	(36)		(6)
Fair value of plan assets, end of year	$	4,430	$	6,525

Funded status (1)	$	(81)	$	25	$	(203)	$	(284)

Amounts recognized in AOCI
Unamortized pension and other postretirement prior service credit	$	—	$	(28)	$	(39)	$	(65)

(1)The funded status is recorded within other assets or other liabilities and accrued expenses on the Consolidated Statements of Financial Position.


Changes in items not yet recognized as a component of net cost for pension and other postretirement plans
($ in millions)	Pension benefits		Postretirement benefits
Items not yet recognized as a component of net cost – December 31, 2021	$	(28)	$	(65)




Prior service credit amortized to net cost	28		25
Translation adjustment and other	—		1
Items not yet recognized as a component of net cost – December 31, 2022	$	—	$	(39)

The prior service credit is recognized as a component of net cost for pension and other postretirement plans amortized over the average remaining service period of active employees expected to receive benefits.

The accumulated benefit obligation (“ABO”) for all defined benefit pension plans was $4.42 billion and $6.36 billion as of December 31, 2022 and 2021, respectively. The ABO is the actuarial present value of all benefits attributed by the pension benefit formula

to employee service rendered at the measurement date. However, it differs from the PBO due to the

exclusion of an assumption as to future compensation levels.

The PBO, ABO and fair value of plan assets for the Company’s pension plans with an ABO in excess of plan assets were $84 million, $83 million and zero million, respectively, as of December 31, 2022 and $123 million, $121 million and zero , respectively, as of December 31, 2021. Included in the accrued benefit cost of the pension benefits are certain unfunded non-qualified plans with accrued benefit costs of $84 million and $123 million for 2022 and 2021, respectively.


Components of net cost (benefit) for pension and other postretirement plans
	For the years ended December 31,
	Pension benefits						Postretirement benefits						Total pension and postretirement benefits
($ in millions)	2022		2021		2020		2022		2021		2020		2022		2021		2020
Service cost	$	101	$	103	$	104	$	1	$	1	$	4	$	102	$	104	$	108
Interest cost	219		191		210		10		8		11		229		199		221
Expected return on plan assets	(371)		(445)		(414)		—		—		—		(371)		(445)		(414)
Amortization of prior service credit	(27)		(50)		(54)		(25)		(25)		(10)		(52)		(75)		(64)
Curtailment losses (gains)	—		—		10		—		—		(8)		—		—		2
Costs and expenses	(78)		(201)		(144)		(14)		(16)		(3)		(92)		(217)		(147)
Remeasurement of projected benefit obligation	(1,382)		(309)		813		(62)		(16)		22		(1,444)		(325)		835
Remeasurement of plan assets	1,560		(319)		(886)		—		—		—		1,560		(319)		(886)
Remeasurement (gains) losses	178		(628)		(73)		(62)		(16)		22		116		(644)		(51)
Total net (benefit) cost	$	100	$	(829)	$	(217)	$	(76)	$	(32)	$	19	$	24	$	(861)	$	(198)

The service cost component is the actuarial present value of the benefits attributed by the plans’ benefit formula to services rendered by the employees during the period.

Interest cost is the increase in the PBO in the period due to the passage of time at the discount rate.

Interest cost fluctuates as the discount rate changes and is also impacted by the related change in the size of the PBO.

The expected return on plan assets is determined as the product of the expected long-term rate of return on plan assets and the fair value of plan assets.

Pension and other postretirement service cost, interest cost, expected return on plan assets, amortization of prior service credit and curtailment gains and losses are reported in property and casualty insurance claims and claims expense, operating costs and expenses, net investment income and (if applicable) restructuring and related charges on the Consolidated Statements of Operations.

Remeasurement gains and losses relate to changes in discount rates, the differences between actual return on plan assets and the expected long-term rate of return on plan assets, and differences between actual plan experience and actuarial assumptions.


Weighted average assumptions used to determine net pension cost and net postretirement benefit cost
	For the years ended December 31,
	Pension benefits						Postretirement benefits
	2022		2021		2020		2022		2021		2020
Discount rate	4.27	%	2.84	%	3.00	%	4.24	%	2.75	%	2.99	%
Expected long-term rate of return on plan assets	7.06		7.06		7.08		n/a		n/a		n/a
Cash balance interest credit rate	2.74		2.04		1.65		n/a		n/a		n/a


Weighted average assumptions used to determine benefit obligations
	For the years ended December 31,
	Pension benefits				Postretirement benefits
	2022		2021		2022		2021
Discount rate	5.64	%	2.93	%	5.58	%	2.86	%
Cash balance interest credit rate	3.97		1.90		n/a		n/a

The weighted average health care cost trend rate used in measuring the accumulated postretirement benefit cost is 6.8% for 2023, gradually declining to 4.5% in 2035 and remaining at that level thereafter.

Pension plan assets In general, the Company’s pension plan assets are managed in accordance with investment policies approved by pension investment committees. The purpose of the policies is to ensure the plans’ long-term ability to meet benefit obligations by prudently investing plan assets and Company contributions, while taking into consideration regulatory and legal requirements and current market conditions. The investment policies are reviewed periodically and specify target plan asset allocation by asset category. In addition, the policies specify various asset allocation and other risk limits. The target asset allocation takes the plans’ funding status into

consideration, among other factors, including anticipated demographic changes or liquidity requirements that may affect the funding status such as the potential impact of lump sum settlements as well as existing or expected market conditions. In general, the allocation has a lower overall investment risk when a plan is in a stronger funded status position since there is less economic incentive to take risk to increase the expected returns on the plan assets. The pension plans’ asset exposure within each asset category is tracked against widely accepted established benchmarks for each asset class with limits on variation from the benchmark established in the investment policy. Pension plan assets are regularly monitored for compliance with these limits and other risk limits specified in the investment policies.


Weighted average target asset allocation and actual percentage of plan assets by asset category
	As of December 31, 2022
	Target asset allocation (1)	Actual percentage of plan assets
Pension plan’s asset category	2022	2022		2021
Equity securities (2)	22 - 36%	27	%	55	%
Fixed income securities	43 - 54	49		30
Limited partnership interests	1 - 24	21		14
Short-term investments and other	—	3		1
Total without securities lending (3)		100	%	100	%

(1)The target asset allocation considers risk-based exposure while the actual percentage of plan assets utilizes a financial reporting view excluding exposure provided through derivatives.

(2)The actual percentage of plan assets for equity securities includes 0% and 3% of fixed income mutual funds in 2022 and 2021, respectively, that are subject to the fixed income securities target allocation.

(3)Securities lending collateral reinvestment of $297 million and $121 million is excluded from the table above in 2022 and 2021, respectively.

The target asset allocation for an asset category may be achieved either through direct investment holdings, through replication using derivative instruments (e.g., futures or swaps) or net of hedges using derivative instruments to reduce exposure to an asset category. The net notional amount of derivatives used for replication and non-hedging strategies is limited to 115% of total plan assets. Market performance of the different asset categories may, from time to time, cause deviation from the target

asset allocation. The asset allocation mix is reviewed on a periodic basis and rebalanced to bring the allocation within the target ranges.

Outside the target asset allocation, the pension plans participate in a securities lending program to enhance returns. As of December 31, 2022, fixed income securities are lent out and cash collateral is invested in short-term investments.


Fair values of pension plan assets as of December 31, 2022
($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Balance as of December 31, 2022
Equity securities	$	120		$	25		$	—		$	145
Fixed income securities:
Government bonds (1)	496			896			—			1,392
Corporate bonds (2)	—			757			—			757
Short-term investments	163			279			—			442
Free-standing derivatives:
Assets	—			1			—			1
Liabilities	(1)			(5)			—			(6)
Other assets	1			—			—			1
Total plan assets at fair value	$	779		$	1,953		$	—		2,732
% of total plan assets at fair value	28.5		%	71.5		%	—		%	100.0		%

Investments measured using the net asset value practical expedient										1,975
Securities lending obligation (3)										(296)
Derivatives counterparty and cash collateral netting										2
Other net plan assets (4)										17
Total reported plan assets										$	4,430

(1)Includes U.S. government and agencies and foreign government bonds.

(2)Includes ABS securities.

(3)The securities lending obligation represents the plan’s obligation to return securities lending collateral received under a securities lending program. The terms of the program allow both the plan and the counterparty the right and ability to redeem/return the securities loaned on short notice. Due to its relatively short-term nature, the outstanding balance of the obligation approximates fair value.

(4)Other net plan assets represent cash and cash equivalents, interest and dividends receivable and net receivables related to settlements of investment transactions, such as purchases and sales.


Fair values of pension plan assets as of December 31, 2021
($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Balance as of December 31, 2021
Equity securities	$	311		$	44		$	2		$	357
Fixed income securities:
Government bonds	58			1,206			—			1,264
Corporate bonds	—			696			—			696
Short-term investments	135			65			—			200
Free-standing derivatives:
Assets	—			4			—			4
Liabilities	—			(3)			—			(3)
Other assets	2			—			—			2
Total plan assets at fair value	$	506		$	2,012		$	2		2,520
% of total plan assets at fair value	20.1		%	79.8		%	0.1		%	100.0		%

Investments measured using the net asset value practical expedient										4,109
Securities lending obligation										(121)
Derivatives counterparty and cash collateral netting										(3)
Other net plan assets										20
Total reported plan assets										$	6,525

The fair values of pension plan assets are estimated using the same methodologies and inputs as those used to determine the fair values for the respective asset category of the Company. These methodologies and inputs are disclosed in Note 6.


Rollforward of Level 3 plan assets during December 31, 2022
			Actual return on plan assets:
($ in millions)	Balance as of December 31, 2021		Relating to assets sold during the period		Relating to assets still held at the reporting date		Purchases, sales and settlements, net		Net transfers in (out) of Level 3		Balance as of December 31, 2022
Equity securities	$	2	$	—	$	—	$	—	$	(2)	$	—


Total Level 3 plan assets	$	2	$	—	$	—	$	—	$	(2)	$	—


Rollforward of Level 3 plan assets during December 31, 2021
			Actual return on plan assets:
($ in millions)	Balance as of December 31, 2020		Relating to assets sold during the period		Relating to assets still held at the reporting date		Purchases, sales and settlements, net		Net transfers in (out) of Level 3		Balance as of December 31, 2021
Equity securities	$	—	$	—	$	—	$	2	$	—	$	2
Fixed income securities:
Corporate	$	2	$	—	$	—	$	(2)	$	—	$	—
Total Level 3 plan assets	$	2	$	—	$	—	$	—	$	—	$	2


Rollforward of Level 3 plan assets during December 31, 2020
			Actual return on plan assets:
($ in millions)	Balance as of December 31, 2019		Relating to assets sold during the period		Relating to assets still held at the reporting date		Purchases, sales and settlements, net		Net transfers in (out) of Level 3		Balance as of December 31, 2020

Fixed income securities:
Corporate	$	—	$	—	$	—	$	2	$	—	$	2
Total Level 3 plan assets	$	—	$	—	$	—	$	2	$	—	$	2

The expected long-term rate of return on plan assets reflects the average rate of earnings expected on plan assets. The Company’s assumption for the expected long-term rate of return on plan assets is evaluated annually giving consideration to appropriate data including, but not limited to, the plan asset allocation, forward-looking expected returns for the period over which benefits will be paid, historical returns on plan assets and other relevant market data. Given the long-term forward-looking nature of this assumption, the actual returns in any one year do not immediately result in a change to the expected long-term rate of return on plan assets. In consideration of the targeted plan asset allocation, the Company evaluated expected returns using sources including historical average asset class returns from independent nationally recognized providers of this type of data blended together using the asset allocation policy weights for the Company’s pension plans; asset class return forecasts developed by employees with relevant expertise in such forecasts and who are independent from those charged with managing the pension plan assets; and expected portfolio returns from a proprietary simulation methodology of a widely recognized external

investment consulting firm that performs asset allocation and actuarial services for corporate pension plan sponsors. The above sources support the Company’s weighted average long-term rate of return on plan assets assumption of 7.06% used for 2022 and an estimate of 7.35% that will be used for 2023. As of the 2022 measurement date, the arithmetic average of the annual actual return on plan assets for the most recent 10 and 5 years was 8.4% and 6.9%, respectively.

Cash flows There was no required cash contribution necessary to satisfy the minimum funding requirement under the IRC for the tax qualified pension plan for the year ended December 31, 2022.

The Company currently plans to contribute $19 million to its unfunded non-qualified plans and zero to both its primary and other qualified funded pension plans in 2023.

The Company contributed $26 million and $27 million to the postretirement benefit plans in 2022 and 2021, respectively. Contributions by participants were $16 million and $16 million in 2022 and 2021, respectively.


Estimated future benefit payments expected to be paid in the next 10 years
	As of December 31, 2022
($ in millions)	Pension benefits		Postretirement benefits
2023	$	505	$	25
2024	485		26
2025	470		25
2026	468		23
2027	463		21
2028-2032	1,778		69
Total benefit payments	$	4,169	$	189

Allstate 401(k) Savings Plan

Employees of the Company, with the exception of those employed by the Company’s international, SquareTrade and InfoArmor subsidiaries, are eligible to become members of the Allstate 401(k) Savings Plan (“Allstate Plan”). The Company’s contributions are based on the Company’s matching obligation. The Company is responsible for funding its contribution to the Allstate Plan.

The Company’s contribution to the Allstate Plan was $131 million, $110 million and $103 million in 2022, 2021 and 2020, respectively.

Allstate’s Canadian, SquareTrade and InfoArmor subsidiaries sponsor defined contribution plans for their eligible employees. Expense for subsidiary sponsored defined contribution plans was $9 million, $9 million and $13 million in 2022, 2021 and 2020, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Equity Incentive Plans

12 Months Ended

Dec. 31, 2022

Equity Incentive Plans [Abstract]

Equity Incentive Plans


Note 19			Equity Incentive Plans

The Company currently has equity incentive plans under which it grants nonqualified stock options, restricted stock units and performance stock awards to certain employees and directors of the Company.


Equity awards
($ in millions)	2022		2021		2020
Compensation expense	$	93	$	120	$	124
Income tax benefits	16		18		18
Cash received from exercise of options	130		151		111
Tax benefit realized on options exercised and release of stock restrictions	44		37		53

The Company records compensation expense related to awards under these plans over the shorter of the period in which the requisite service is rendered or retirement eligibility is attained. Compensation expense for performance stock awards with no market condition is based on the probable number of awards expected to vest using the performance level most likely to be achieved at the end of the performance period. Compensation expense for performance stock awards with a market condition is based on the number of awards expected to vest as estimated at the grant date and does not change if the market condition is not met.


Nonvested awards as of December 31, 2022
($ in millions)	Unrecognized compensation		Weighted average vesting period
Nonqualified stock options	$	16	1.66
Restricted stock units	47		1.9
Performance stock awards	20		1.55
Total	$	83

Options are granted to employees with exercise prices equal to the closing share price of the Company’s common stock on the applicable grant date. Options granted to employees vest ratably over a three-year period. Vesting is subject to continued service, except for employees who are retirement eligible and in certain other limited circumstances. Options may be exercised once vested and will expire no later than ten years after the date of grant.

Restricted stock units for directors vest immediately and convert into shares of stock on the earlier of the day of the third anniversary of the grant date or the date the director’s service terminates, unless a deferred period of restriction is elected. Restricted stock units granted to directors prior to June 1, 2016 convert upon leaving the board. Restricted stock units granted to employees prior to February 19, 2020 vest on the day prior to the third anniversary of the grant date. Restricted stock units granted to employees on or after February 19, 2020 vest ratably over a three-year period. Restricted stock units granted to employees subsequently convert into shares of stock on the day of the respective

anniversary of the grant date. Vesting is subject to continued service, except for employees who are retirement eligible and in certain other limited circumstances.

Performance stock awards vest into shares of stock based on achieving established company-specific performance goals. Performance stock awards granted prior to February 19, 2020 vest into shares of stock on the day prior to the third anniversary of the grant date. Performance stock awards granted on or after February 19, 2020 vest into shares of stock on the third anniversary of the grant date.

The numbers of shares earned upon vesting of the performance stock awards is based on the attainment of performance goals for each of the performance periods, subject to continued service, except for employees who are retirement eligible and in certain other limited circumstances.

Since 2001, a total of 110.8 million shares of common stock were authorized to be used for awards under the plans, subject to adjustment in accordance with the plans’ terms. As of December 31, 2022, 14.2

million shares were reserved and remained available for future issuance under these plans. The Company uses its treasury shares for these issuances.

The fair value of each option grant is estimated on the date of grant using a binomial lattice model. The Company uses historical data to estimate option exercise and employee termination within the valuation model. In addition, separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of options granted is derived from the output of the binomial lattice model and represents the period of time that options granted are expected to be outstanding. The expected volatility of the price of the underlying shares is implied based on traded options and historical volatility of the Company’s common stock. The expected dividends were based on the current dividend yield of the Company’s stock as of the date of the grant. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.


Option grant assumptions
	2022		2021		2020
Weighted average expected term	5.9 years		7.5 years		6.1 years
Expected volatility	19.8% - 29.9%		16.5% - 28.8%		16.3% - 37.1%
Weighted average volatility	23.2	%	23.0	%	17.6	%
Expected dividends	2.5% - 3.0%		2.0% - 3.0%		1.6% - 2.4%
Weighted average expected dividends	2.8	%	3.1	%	1.8	%
Risk-free rate	0% - 4.8%		0% - 1.7%		0.1% - 1.8%


Summary of option activity
	For the year ended December 31, 2022
	Number (in 000s)	Weighted average exercise price		Aggregate intrinsic value (in 000s)		Weighted average remaining contractual term (years)
Outstanding as of January 1, 2022	9,854	$	88.84
Granted	1,343	123.04
Exercised	(1,927)	76.28
Forfeited	(303)	116.09
Expired	(14)	109.26
Outstanding as of December 31, 2022	8,953	95.72		$	357,082	5.5
Outstanding, net of expected forfeitures	8,906	95.60		356,277		5.4
Outstanding, exercisable (“vested”)	6,472	87.73		309,840		4.5

The weighted average grant date fair value of options granted was $21.16, $15.61 and $18.17 during 2022, 2021 and 2020, respectively. The intrinsic value, which is the difference between the fair value and the exercise price, of options exercised was $107 million, $112 million and $119 million during 2022, 2021 and 2020, respectively.


Changes in restricted stock units
	For the year ended December 31, 2022
	Number (in 000s)	Weighted average grant date fair value
Nonvested as of January 1, 2022	1,038	$	101.98
Granted	447	123.98
Vested	(465)	103.53
Forfeited	(91)	112.74
Nonvested as of December 31, 2022	929	110.75

The fair value of restricted stock units is based on the market value of the Company’s stock as of the date of the grant. The market value in part reflects the payment of future dividends expected. The weighted average grant date fair value of restricted stock units granted was $123.98, $108.99 and $118.61 during 2022, 2021 and 2020, respectively. The total fair value of restricted stock units vested was $59 million, $35 million and $32 million during 2022, 2021 and 2020, respectively.


Changes in performance stock awards
	For the year ended December 31, 2022
	Number (in 000s)	Weighted average grant date fair value
Nonvested as of January 1, 2022	974	$	105.92
Granted	270	123.08
Adjustment for performance achievement	336	92.46
Vested	(694)	93.04
Forfeited	(90)	114.02
Nonvested as of December 31, 2022	796	116.36

The change in performance stock awards primarily comprises awards vested in 2022 and the adjustment to previously granted performance stock awards for performance achievement.

The fair value of performance stock awards that do not include a market condition is based on the market value of the Company’s stock as of the date of the grant.

Starting with the February 2020 award, the fair value of performance stock awards includes a component with market-based condition measured on the grant date using a Monte Carlo simulation model. Market-based condition measures the Company’s total shareholder return (“TSR”) relative to the TSR of peer companies, expressed in terms of the Company’s TSR percentile rank among the peer companies, over a three-calendar-year performance period. The Monte Carlo simulation model uses a risk-neutral framework to model future stock price movements based upon the risk-free rate of return at the time of grant,

volatilities of the Company and the peer companies, and expected term assumed to be equal to the remaining measurement period. The market value in part reflects the payment of future dividends expected.

For the year ended December 31, 2022, the 2022 performance stock awards with market-based condition assumes a risk-free rate of 1.7%, volatility of 30.4%, average peer volatility of 34.2% and an expected term of 2.9 years.

The weighted average grant date fair value of performance stock awards granted was $123.08, $107.14 and $123.48 during 2022, 2021 and 2020, respectively. The total fair value of performance stock awards vested was $87 million, $70 million and $101 million during 2022, 2021 and 2020, respectively.

The Company recognizes all tax effects related to share-based payments at settlement or expiration through the income statement.

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information


Note 20			Supplemental Cash Flow Information

Non-cash investing activities include $185 million, $51 million and $55 million related to mergers and exchanges completed with equity and fixed income securities, bank loans, real estate and limited partnerships in 2022, 2021 and 2020, respectively. Non-cash investing activities include $37 million related to right-of-use assets obtained in exchange for lease obligations for the year ended December 31, 2022.

Non-cash financing activities include $65 million, $53 million and $56 million related to the issuance of Allstate common shares for vested equity awards in 2022, 2021 and 2020, respectively.

Cash flows used in operating activities in the Consolidated Statements of Cash Flows include cash paid for operating leases related to amounts included in the measurement of lease liabilities of $163 million,

$181 million and $156 million for the year ended December 31, 2022, 2021 and 2020, respectively. Non-cash operating activities include $26 million, $98 million and $51 million related to right-of-use assets obtained in exchange for lease obligations for the year ended December 31, 2022, 2021 and 2020, respectively.

Liabilities for collateral received in conjunction with the Company’s securities lending program and OTC and cleared derivatives are reported in other liabilities and accrued expenses or other investments. The accompanying cash flows are included in cash flows from operating activities in the Consolidated Statements of Cash Flows along with the activities resulting from management of the proceeds, as follows:


	For the years ended December 31,
($ in millions)	2022		2021		2020
Net change in proceeds managed
Net change in fixed income securities	$	(521)	$	—	$	—
Net change in short-term investments	(49)		(539)		396
Operating cash flow (used) provided	(570)		(539)		396
Net change in cash	3		9		(12)
Net change in proceeds managed	$	(567)	$	(530)	$	384

Cash flows from operating activities
Net change in liabilities
Liabilities for collateral, beginning of year	$	(1,444)	$	(914)	$	(1,298)
Liabilities for collateral, end of year	(2,011)		(1,444)		(914)
Operating cash flow provided (used)	$	567	$	530	$	(384)

Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2022

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Other Comprehensive Income (Loss)


Note 21			Other Comprehensive Income (Loss)


Components of other comprehensive income (loss) on a pre-tax and after-tax basis
	For the years ended December 31,
	2022						2021						2020
($ in millions)	Pre-tax		Tax		After-tax		Pre-tax		Tax		After-tax		Pre-tax		Tax		After-tax
Unrealized net holding gains and losses arising during the period, net of related offsets (1)	$	(4,470)	$	949	$	(3,521)	$	(2,839)	$	601	$	(2,238)	$	2,512	$	(532)	$	1,980
Less: reclassification adjustment of net gains and losses on investments and derivatives	(848)		178		(670)		436		(92)		344		870		(183)		687
Unrealized net capital gains and losses	(3,622)		771		(2,851)		(3,275)		693		(2,582)		1,642		(349)		1,293
Unrealized foreign currency translation adjustments	(190)		40		(150)		(10)		2		(8)		66		(14)		52


Unamortized pension and other postretirement prior service credit (2)	(54)		11		(43)		(75)		16		(59)		12		(3)		9
Other comprehensive (loss) income	$	(3,866)	$	822	$	(3,044)	$	(3,360)	$	711	$	(2,649)	$	1,720	$	(366)	$	1,354

(1)2021 includes $2.4 billion of losses related to held for sale investments in connection with the sale of the life and annuity business.

(2)Represents prior service credits reclassified out of other comprehensive income and amortized into operating costs and expenses.

Quarterly Results (unaudited)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results (unaudited)


Note 22			Quarterly Results (unaudited)


	First Quarter				Second Quarter				Third Quarter				Fourth Quarter
($ in millions, except per share data)	2022		2021		2022		2021		2022		2021		2022		2021
Revenues	$	12,337	$	12,451	$	12,220	$	12,646	$	13,208	$	12,480	$	13,647	$	13,011
Net income (loss) from continuing operations applicable to common shareholders	630		2,385		(1,042)		1,399		(694)		183		(310)		1,111
Income (loss) from discontinued operations, net of tax	—		(3,793)		—		196		—		325		—		(321)
Net income (loss) applicable to common shareholders	$	630	$	(1,408)	$	(1,042)	$	1,595	$	(694)	$	508	$	(310)	$	790
Earnings per common share applicable to common shareholders
Basic
Continuing operations	$	2.27	$	7.88	$	(3.81)	$	4.68	$	(2.58)	$	0.62	$	(1.17)	$	3.90
Discontinued operations	—		(12.53)		—		0.66		—		1.11		—		(1.13)
Total	$	2.27	$	(4.65)	$	(3.81)	$	5.34	$	(2.58)	$	1.73	$	(1.17)	$	2.77

Diluted (1)
Continuing operations	$	2.24	$	7.78	$	(3.81)	$	4.61	$	(2.58)	$	0.62	$	(1.17)	$	3.84
Discontinued operations	—		(12.38)		—		0.65		—		1.09		—		(1.11)
Total	$	2.24	$	(4.60)	$	(3.81)	$	5.26	$	(2.58)	$	1.71	$	(1.17)	$	2.73

(1)For periods presented with a net loss from continuing operations applicable to common shareholders, weighted average shares for basic earnings per share is also used for calculating diluted earnings per share because all dilutive potential common shares are anti-dilutive and are therefore excluded from the calculation.

Schedule I — Summary of Investments Other than Investments in Related Parties

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]

Schedule I — Summary of Investments Other than Investments in Related Parties


	As of December 31, 2022
($ in millions)	Cost/amortized cost, net		Fair value (if applicable)		Amount shown in the Balance Sheet
Type of investment
Fixed maturities:
Bonds:
United States government, government agencies and authorities	$	8,123	$	7,898	$	7,898
States, municipalities and political subdivisions	6,500		6,210		6,210
Foreign governments	997		957		957
Public utilities	2,633		2,437		2,437

All other corporate bonds	25,929		23,826		23,826
Asset-backed securities	1,188		1,157		1,157



Total fixed maturities	45,370		42,485		42,485

Equity securities:
Common stocks:
Public utilities	48		60		60
Banks, trusts and insurance companies	260		340		340
Industrial, miscellaneous and all other	3,753		3,938		3,938
Nonredeemable preferred stocks	192		229		229
Total equity securities	4,253		4,567		4,567

Mortgage loans on real estate	762		700		762
Real estate (none acquired in satisfaction of debt)	813				813
Policy loans	120				120
Derivative instruments	1		1		1
Limited partnership interests	8,114				8,114
Other long-term investments	794				794
Short-term investments	4,174		4,173		4,173
Total investments	$	64,401			$	61,829

Schedule II - Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule II — Condensed Financial Information of Registrant

Schedule II — Condensed Financial Information of Registrant Statement of Operations


	Year Ended December 31,
($ in millions)	2022		2021		2020
Revenues
Investment income, less investment expense	$	59	$	13	$	12
Net gains (losses) on investments and derivatives	(34)		12		33

Total revenues	25		25		45

Expenses
Interest expense	351		328		328
Pension and other postretirement remeasurement (gains) losses	179		(611)		(73)
Pension and other postretirement (benefit) expense	(98)		(218)		(168)
Other operating expenses	56		71		73
Total expenses	488		(430)		160

(Loss) gain from operations before income tax benefit and equity in net income of subsidiaries	(463)		455		(115)

Income tax (benefit) expense	(103)		93		(26)
(Loss) gain before equity in net income of subsidiaries	(360)		362		(89)

Equity in net income of subsidiaries (1)	(951)		1,237		5,665
Net (loss) income	(1,311)		1,599		5,576

Preferred stock dividends	105		114		115

Net (loss) income applicable to common shareholders	(1,416)		1,485		5,461

Other comprehensive income (loss), after-tax
Changes in:
Unrealized net capital gains and losses	(2,851)		(2,582)		1,293
Unrealized foreign currency translation adjustments	(150)		(8)		52
Unamortized pension and other postretirement prior service credit	(43)		(59)		9
Other comprehensive (loss) income, after-tax	(3,044)		(2,649)		1,354
Comprehensive (loss) income	$	(4,355)	$	(1,050)	$	6,930

(1)2021 and 2020 include results of operations for the life and annuity business held for sale reported as discontinued operations in the Consolidated Statements of Operations.

See accompanying notes to condensed financial information and notes to consolidated financial statements.

The Allstate Corporation and Subsidiaries

Schedule II (Continued) — Condensed Financial Information of Registrant Statement of Financial Position


	December 31,
($ in millions, except par value data)	2022		2021
Assets
Investments in subsidiaries	$	23,698	$	32,058
Fixed income securities, at fair value (amortized cost, net $2,513 and $1,708)	2,422		1,718
Short-term investments, at fair value (amortized cost, net $291 and $297)	291		297
Cash	—		1
Receivable from subsidiaries	341		504
Deferred income taxes	59		22
Other assets	108		222
Total assets	26,919		34,822
Liabilities
Debt	7,588		7,581
Pension and other postretirement benefit obligations	180		211
Deferred compensation	320		383

Notes due to subsidiaries	1,000		1,000
Dividends payable to shareholders	260		269

Other liabilities	96		199
Total liabilities	9,444		9,643
Shareholders’ equity
Preferred stock and additional capital paid-in, $1 par value, 25 million shares authorized, 81.0 thousand shares issued and outstanding, $2,025 aggregate liquidation preference	1,970		1,970
Common stock, $.01 par value, 2.0 billion shares authorized and 900 million issued, 263 million and 281 million shares outstanding	9		9
Additional capital paid-in	3,788		3,722
Retained income	50,954		53,294
Treasury stock, at cost (637 million and 619 million shares)	(36,857)		(34,471)
Accumulated other comprehensive income:
Unrealized net capital gains and losses	(2,253)		598
Unrealized foreign currency translation adjustments	(165)		(15)
Unamortized pension and other postretirement prior service credit	29		72
Total accumulated other comprehensive (loss) income	(2,389)		655
Total Allstate shareholders’ equity	17,475		25,179
Total liabilities and equity	$	26,919	$	34,822

See accompanying notes to condensed financial information and notes to consolidated financial statements.

The Allstate Corporation and Subsidiaries

Schedule II (Continued) — Condensed Financial Information of Registrant Statement of Cash Flows


	Years Ended December 31,
($ in millions)	2022		2021		2020
Cash flows from operating activities
Net (loss) income	$	(1,311)	$	1,599	$	5,576
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net income of subsidiaries (1)	951		(1,237)		(5,665)
Dividends received from subsidiaries	3,396		5,112		4,157
Net (gains) losses on investments and derivatives	34		(12)		(33)
Pension and other postretirement remeasurement (gains) losses	179		(611)		(73)
Changes in:
Pension and other postretirement benefits	(98)		(218)		(168)
Income taxes	(14)		177		54
Operating assets and liabilities	76		158		110
Net cash provided by operating activities	3,213		4,968		3,958

Cash flows from investing activities
Proceeds from sales of investments	2,572		1,743		1,251

Investment purchases	(2,507)		(2,673)		(402)
Investment collections	39		38		16
Capital contribution or return of capital from subsidiaries	145		383		251
Change in short-term investments, net	6		4,182		(3,777)
Acquisition of subsidiaries	—		(4,144)		—
Net cash provided by (used in) investing activities	255		(471)		(2,661)

Cash flows from financing activities
Proceeds from borrowings from subsidiaries	1,000		2,200		1,250
Repayment of notes due to subsidiaries	(1,000)		(2,450)		(1,000)
Proceeds from issuance of debt	—		—		1,189
Redemption of preferred stock	—		—		(288)
Redemption and repayment of debt	—		(250)		—

Dividends paid on common stock	(926)		(885)		(668)
Dividends paid on preferred stock	(105)		(105)		(108)
Treasury stock purchases	(2,520)		(3,120)		(1,737)
Shares reissued under equity incentive plans, net	82		114		63

Net cash used in financing activities	(3,469)		(4,496)		(1,299)

Net (decrease) increase in cash	(1)		1		(2)
Cash at beginning of year	1		—		2
Cash at end of year	$	—	$	1	$	—

(1)2021 and 2020 results include operations for the life and annuity business held for sale reported as discontinued operations in the Consolidated Statements of Operations.

See accompanying notes to condensed financial information and notes to consolidated financial statements.

The Allstate Corporation and Subsidiaries

Schedule II (Continued) — Condensed Financial Information of Registrant

Notes to Condensed Financial Information

1. General

Pursuant to rules and regulations of the SEC, the unconsolidated condensed financial statements of the Parent Company do not reflect all of the information and notes normally included with financial statements prepared in accordance with GAAP. Therefore, these condensed financial statements of the Registrant should be read in conjunction with the consolidated financial statements and notes thereto included in Item 8.

The debt presented in Note 13 “Capital Structure” are direct obligations of or guaranteed by the Registrant. A majority of the pension and other postretirement benefits plans presented in Note 18 “Benefit Plans” are direct obligations of the Registrant.

Participating subsidiaries fund the pension plans contributions under a master services cost sharing agreement. In addition, as a result of joint and several pension liability rules under the Internal Revenue Code and the Employee Retirement Income Security Act of 1974, as amended, many liabilities that arise in connection with pension plans are joint and several across all members of a controlled group of entities.

2. Notes due to subsidiaries

On June 17, 2022, the Registrant issued $1.00 billion notes, with a rate of 1.63% due on June 17, 2023, to Kennett Capital Inc. The proceeds of this issuance were used for cash management purposes.

On March 1, 2021 and June 18, 2021, the Registrant issued $200 million and $1.00 billion notes, with rates of 0.21% and 0.20%, due on March 1, 2022 and June 18, 2022, respectively, to Kennett Capital Inc. The proceeds of these issuances were used for cash management purposes. On April 5, 2021, the Registrant repaid $200 million to Kennett Capital Inc. On June 17, 2022, the Registrant repaid $1.00 billion to Kennett Capital Inc.

On June 18, 2020 and December 29, 2020, the Registrant issued $1.00 billion and $250 million notes, with rates of 0.43% and 0.33%, due on June 18, 2021 and December 29, 2021, respectively, to Kennett Capital Inc. The proceeds of these issuances were used for cash management purposes. On April 5, 2021 and June 18, 2021, the Registrant repaid $250 million and $1.00 billion, respectively, to Kennett Capital Inc.

3. Supplemental Disclosures of Cash Flow Information

The Registrant paid $323 million, $321 million and $311 million of interest on debt in 2022, 2021 and 2020, respectively.

Schedule III — Supplementary Insurance Information

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]

Schedule III — Supplementary Insurance Information


($ in millions)	As of December 31,						For the years ended December 31,
Segment	Deferred policy acquisition costs		Reserves for claims and claims expense, contract benefits and contractholder funds		Unearned premiums		Premium revenue and contract charges		Net investment income (1)		Claims and claims expense, contract benefits and interest credited to contractholders		Amortization of deferred policy acquisition costs		Other operating costs and expenses		Premiums written (excluding life)
2022
Property-Liability
Allstate Protection	$	2,146	$	35,537	$	17,538	$	43,909			$	36,607	$	5,570	$	5,930	$	45,787
Run-off Property-Liability	—		1,955		—		—				125		—		4		—
Total Property-Liability	2,146		37,492		17,538		43,909		$	2,190	36,732		5,570		5,934		45,787
Protection Services (2)	2,768		49		4,745		2,144		48		532		928		952		2,699
Allstate Health and Benefits	504		2,170		28		1,833		69		1,061		146		852		1,594
Corporate and Other	—		—		—		—		96		—		—		712		—
Intersegment Eliminations (2)	—		—		—		(149)		—		—		—		(149)		—
Total	$	5,418	$	39,711	$	22,311	$	47,737	$	2,403	$	38,325	$	6,644	$	8,301	$	50,080

2021
Property-Liability
Allstate Protection	$	1,951	$	31,099	$	15,763	$	40,454			$	28,760	$	5,313	$	6,033	$	41,358
Run-off Property-Liability	—		1,916		—		—				116		—		4		—
Total Property-Liability	1,951		33,015		15,763		40,454		$	3,118	28,876		5,313		6,037		41,358
Protection Services (2)	2,294		45		4,054		1,939		43		458		795		938		2,642

Allstate Health and Benefits	477		2,181		27		1,821		74		1,049		144		838		1,630

Corporate and Other	—		—		—		—		58		—		—		(133)		—
Intersegment Eliminations (2)	—		—		—		(175)		—		(16)		—		(159)		—
Total	$	4,722	$	35,241	$	19,844	$	44,039	$	3,293	$	30,367	$	6,252	$	7,521	$	45,630

2020
Property-Liability
Allstate Protection	$	1,608	$	25,679	$	12,772	$	35,580			$	21,485	$	4,642	$	5,741	$	35,768
Run-off Property-Liability	—		1,888		—		—				141		—		3		—
Total Property-Liability	1,608		27,567		12,772		35,580		$	1,421	21,626		4,642		5,744		35,768
Protection Services (2)	1,696		43		3,167		1,640		44		386		658		760		1,890

Allstate Health and Benefits	470		1,885		7		1,094		78		549		177		323		839

Corporate and Other	—		—		—		—		47		—		—		389		—
Intersegment Eliminations (2)	—		—		—		(147)		—		(11)		—		(136)		—
Total	$	3,774	$	29,495	$	15,946	$	38,167	$	1,590	$	22,550	$	5,477	$	7,080	$	38,497

(1)A single investment portfolio supports both Allstate Protection and Run-off Property-Liability segments.

(2)Includes intersegment premiums and service fees and the related incurred losses and expenses that are eliminated in the consolidated financial statements.

Schedule IV — Reinsurance

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]

Schedule IV — Reinsurance


($ in millions)	Gross amount		Ceded to other companies (1)		Assumed from other companies		Net amount		Percentage of amount assumed to net
Year ended December 31, 2022
Life insurance in force	$	21,271	$	614	$	1,401	$	22,058	6.4	%
Premiums and contract charges:
Life insurance	$	218	$	7	$	17	$	228	7.5	%
Accident and health insurance	1,622		31		14		1,605		0.9
Property and casualty insurance	47,552		1,869		221		45,904		0.5
Total premiums and contract charges	$	49,392	$	1,907	$	252	$	47,737	0.5

Year ended December 31, 2021
Life insurance in force	$	20,535	$	640	$	1,528	$	21,423	7.1	%
Premiums and contract charges:
Life insurance	$	156	$	6	$	15	$	165	9.1	%
Accident and health insurance	1,722		72		6		1,656		0.4
Property and casualty insurance	43,944		1,904		178		42,218		0.4
Total premiums and contract charges	$	45,822	$	1,982	$	199	$	44,039	0.5

Year ended December 31, 2020
Life insurance in force	$	17,124	$	16,528	$	1,003	$	1,599	62.7	%
Premiums and contract charges:
Life insurance	$	162	$	8	$	14	$	168	8.3	%
Accident and health insurance	931		5		—		926		—
Property and casualty insurance	38,115		1,141		99		37,073		0.3
Total premiums and contract charges	$	39,208	$	1,154	$	113	$	38,167	0.3

(1)No reinsurance or coinsurance income was netted against premium ceded in 2022, 2021 or 2020.

Schedule V — Valuation Allowances and Qualifying Accounts

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule V — Valuation Allowances and Qualifying Accounts


($ in millions)			Additions
Description	Balance as of beginning of period		Charged to costs and expenses		Other additions		Deductions		Balance as of end of period
Year ended December 31, 2022
Fixed income securities	$	6	$	7	$	—	$	—	$	13
Mortgage loans	6		1		—		—		7
Bank loans	61		26		—		30		57
Investments	73		34		—		30		77
Premium installment receivable	107		313		—		288		132
Reinsurance recoverables	74		—		—		9		65
Other assets	26		—		—		7		19
Assets	280		347		—		334		293
Commitments to fund mortgage loans and bank loans	—		—		—		—		—
Liabilities	—		—		—		—		—
Total	$	280	$	347	$	—	$	334	$	293

Valuation allowance for deferred tax assets	$	24	$	—	$	10	$	—	$	34

Year ended December 31, 2021
Fixed income securities	$	2	$	4	$	—	$	—	$	6
Mortgage loans	67		(61)		—		—		6
Bank loans	67		(6)		—		—		61
Investments	136		(63)		—		—		73
Premium installment receivable	153		274		19		339		107
Reinsurance recoverables	60		15		—		1		74
Other assets	17		9		—		—		26
Assets	366		235		19		340		280
Commitments to fund mortgage loans and bank loans	1		—		—		1		—
Liabilities	1		—		—		1		—
Total	$	367	$	235	$	19	$	341	$	280

Valuation allowance for deferred tax assets	$	—	$	—	$	38	$	14	$	24

Year ended December 31, 2020
Fixed income securities	$	—	$	2	$	—	$	—	$	2
Mortgage loans (1)	45		39		—		17		67
Bank loans (1)	53		28		—		14		$	67
Investments	98		69		—		31		136
Premium installment receivable	91		223		—		161		153
Reinsurance recoverables	$	61	$	(1)	$	—	$	—	$	60
Other assets	15		2		—		—		17
Assets	265		293		—		192		366
Commitments to fund mortgage loans and bank loans	3		—		—		2		1
Liabilities	3		—		—		2		1
Total	$	268	$	293	$	—	$	194	$	367

(1)Includes credit loss allowance for investments that were classified as held for sale as of December 31, 2020

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of presentation

Risks and uncertainties

The Company considers the following categories and locations to be the greatest areas of potential catastrophe losses:

•Wildfires — California, Colorado, Oregon, Texas and Arizona

•Hurricanes — Major metropolitan centers in counties along the eastern and gulf coasts of the United States

•Wind/Hail, Rain and Tornado — Texas, Illinois, Georgia and Colorado

•Earthquakes and fires following earthquakes —Major metropolitan areas near fault lines in the states of California, Oregon, Washington, South Carolina and Kentucky

Investments

Investments in limited partnership interests are primarily accounted for in accordance with the equity

Investment income primarily consists of interest, dividends, income from limited partnership interests, rental income from real estate, and income from certain derivative transactions.

to be collected, is written off through net investment income. Cash receipts on investments on nonaccrual status are generally recorded as a reduction of amortized cost.

Derivative and embedded derivative financial instruments

Securities loaned

Recognition of premium revenues and contract charges, and related benefits and interest credited

Property and casualty insurance premiums include premiums from personal lines policies, protection plans, other contracts (primarily finance and insurance products) and roadside assistance.

Personal lines insurance premiums are deferred and earned on a pro-rata basis over the terms of the policies, typically periods of six or twelve months.

The portion of premiums written applicable to the unexpired terms of the policies is recorded as unearned premiums.


Unearned premiums
	December 31,
($ in millions)	2022		2021
Allstate Protection	$	17,538	$	15,762
Protection Services	4,745		4,054
Total	$	22,283	$	19,816

The Company expects to recognize approximately $1.64 billion, $1.31 billion and $1.79 billion of the December 31, 2022 unearned premium balance in 2023, 2024 and thereafter, respectively.

including aging analyses to estimate allowances under current conditions and for the forecast period. The Company regularly evaluates and updates the data and adjusts its allowance as appropriate.


Rollforward of credit loss allowance for premium installment receivables
	For the years ended December 31,
($ in millions)	2022		2021
Beginning balance	$	(107)	$	(153)
Increase in the provision for credit losses	(313)		(293)
Write-off of uncollectible premium installment receivable amounts	288		339
Ending balance	$	(132)	$	(107)

Other revenue

The Company collects service fees in the form of commission and general agent fees by selling policies issued by third-party insurance companies. The

Deferred policy acquisition costs

For voluntary accident and health insurance and traditional life, DAC is amortized over the premium paying period of the related policies in proportion to the estimated revenues on such business.

For interest-sensitive life insurance, DAC is amortized in proportion to the incidence of the total present value of gross profits expected to be earned over the estimated lives of the contracts.

The Company performs quarterly reviews of DAC recoverability for interest-sensitive life using actual experience and current assumptions.

lives of the acquired business and are periodically evaluated for recoverability.

Reinsurance and Indemnification

Allowances for property and casualty and accident and health reinsurance recoverables are established primarily through risk-based evaluations.

The changes in the allowances are reported in property and casualty insurance claims and claims expense and accident, health and other policy benefits.

Goodwill


Goodwill by reporting unit
	December 31,
($ in millions)	2022		2021
Allstate Protection	$	1,563	$	1,563
Protection Services	1,494		1,494
Allstate Health and Benefits	445		445
Total	$	3,502	$	3,502

Intangible assets, finite-lived

Intangible assets


Intangible assets by type
	December 31,
($ in millions)	2022		2021
Distribution and customer relationships	$	697	$	909
Trade names and licenses	179		206
Technology and other	301		305
Total	$	1,177	$	1,420

Amortization expense is calculated using an accelerated amortization method.

Intangible assets, indefinite-lived

Property and equipment

Income taxes

Reserve for property and casualty insurance claims and claims expense and Reserve for future policy benefits

Reserve for property and casualty insurance claims and claims expense

Reserve for future policy benefits

would favorably or unfavorably impact the ultimate settlement of the Company’s losses and LAE.

Contractholder funds

Pension and other postretirement remeasurement gains and losses

The primary factors contributing to pension and postretirement remeasurement gains and losses are:


• Changes in the discount rate used to value pension and postretirement obligations as of the measurement date
• Differences between the expected and the actual return on plan assets
• Changes in demographic assumptions, including mortality and participant experience
• Changes in lump sum interest rates used to value pension obligations as of the measurement date

Legal contingencies

Debt

Equity incentive plans

Measurement of credit losses

loss allowances. For additional information, refer to the Investments, Reinsurance, Indemnification or Recognition of premium revenues and contract charges, topics of this section.

Leases

which are incorporated into the Company’s measurements when it is reasonably certain that the Company will exercise the option. Operating lease costs are recognized on a straight-line basis over the lease term and include interest expense on the lease liability and amortization of the ROU asset. Variable lease costs are expensed as incurred and include maintenance costs and real estate taxes.

Consolidation of variable interest entities

Discontinued Operations and Held for Sale

The Company completed its sale of the life and annuity business in 2021.

When a business is identified for discontinued operations reporting:

•Results for prior periods are retrospectively reclassified as discontinued operations

•Results of operations are reported in a single line, net of tax, in the Consolidated Statements of Operations

•Assets and liabilities are reported as held for sale in the Consolidated Statements of Financial Position in the period in which the business is classified as held for sale

Foreign currency translation

Earnings per common share

Accounting standard

Pending accounting standard

sold contracts that meet the conditions included in ASU 2022-05.

Impact of adoption at January 1, 2021

Decrease in equity

$250 million to $350 million

Decrease in retained income

$15 million to $35 million

Decrease in AOCI

$235 million to $315 million

Impact of adoption to AOCI and net income

As of and for the years ended December 31,

2022

2021

Ending AOCI (1)

$0 million to $(50) million

$(200) million to $(250) million

Increase in net income

$5 million to $20 million

(1)Represents the impact of adoption to the ending balance of AOCI reported on the Consolidated Statements of Financial Position.

The estimated impact to AOCI at transition date will decline significantly at the effective date due to the increase in the discount rate between the transition date and effective date.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of unearned premiums

The portion of premiums written applicable to the unexpired terms of the policies is recorded as unearned premiums.


Unearned premiums
	December 31,
($ in millions)	2022		2021
Allstate Protection	$	17,538	$	15,762
Protection Services	4,745		4,054
Total	$	22,283	$	19,816

Allowance for credit loss


Rollforward of credit loss allowance for premium installment receivables
	For the years ended December 31,
($ in millions)	2022		2021
Beginning balance	$	(107)	$	(153)
Increase in the provision for credit losses	(313)		(293)
Write-off of uncollectible premium installment receivable amounts	288		339
Ending balance	$	(132)	$	(107)


Allowance for credit losses
	As of December 31,
($ in millions)	2022		2021
Fixed income securities	$	13	$	6
Mortgage loans	7		6
Bank loans	57		61
Investments	77		73
Premium installment receivables	132		107
Reinsurance recoverables	65		74
Other assets	19		26
Assets	293		280

Commitments to fund mortgage loans and bank loans	—		—
Liabilities	—		—
Total	$	293	$	280


Rollforward of credit loss allowance for fixed income securities
	For the years ended December 31,
($ in millions)	2022		2021		2020
Beginning balance	$	(6)	$	(2)	$	—
Credit losses on securities for which credit losses not previously reported	(1)		(5)		(2)
Net increases related to credit losses previously reported	(6)		1		—
Reduction of allowance related to sales	—		—		—
Write-offs	—		—		—
Ending balance	$	(13)	$	(6)	$	(2)

Components of credit loss allowance
Corporate bonds	$	(11)	$	(6)	$	(1)
ABS	(2)		—		(1)
Total	$	(13)	$	(6)	$	(2)


Rollforward of credit loss allowance for mortgage loans
	For the years ended December 31,
($ in millions)	2022		2021		2020
Beginning balance	$	(6)	$	(67)	$	(3)
Cumulative effect of change in accounting principle	—		—		(42)
Net (increases) decreases related to credit losses	(1)		40		(39)
Reduction of allowance related to sales	—		21		17
Write-offs	—		—		—
Ending balance (1)	$	(7)	$	(6)	$	(67)

(1)Includes $59 million of credit loss allowance for mortgage loans that are classified as held for sale as of December 31, 2020.


Rollforward of credit loss allowance for bank loans
	For the years ended December 31,
($ in millions)	2022		2021		2020
Beginning balance	$	(61)	$	(67)	$	—
Cumulative effect of change in accounting principle	—		—		(53)
Net decreases related to credit losses	(26)		(15)		(28)
Reduction of allowance related to sales	30		21		9
Write-offs	—		—		5
Ending balance (1)	$	(57)	$	(61)	$	(67)

(1)Includes $16 million of credit loss allowance for bank loans that are classified as held for sale as of December 31, 2020.

Schedule of goodwill by reporting unit

The Company’s goodwill reporting units are equivalent to its reportable segments to which goodwill has been assigned: Allstate Protection, Protection Services, and Allstate Health and Benefits.


Goodwill by reporting unit
	December 31,
($ in millions)	2022		2021
Allstate Protection	$	1,563	$	1,563
Protection Services	1,494		1,494
Allstate Health and Benefits	445		445
Total	$	3,502	$	3,502

Schedule of finite-lived intangible assets

Intangible assets are carried at cost less accumulated amortization.


Intangible assets by type
	December 31,
($ in millions)	2022		2021
Distribution and customer relationships	$	697	$	909
Trade names and licenses	179		206
Technology and other	301		305
Total	$	1,177	$	1,420

Schedule of finite-lived intangible assets, future amortization expense


Amortization expense of intangible assets for the next five years and thereafter
($ in millions)
2023	$	313
2024	248
2025	201
2026	91
2027	64
Thereafter	88
Total amortization	$	1,005

Other information related to operating leases


Other information related to operating leases
	December 31,
	2022		2021
Weighted average remaining lease term (years)	4		5
Weighted average discount rate	3.08	%	3.09	%

Maturity of lease liabilities


Maturity of lease liabilities
($ in millions)	Operating leases
2023	$	100
2024	97
2025	71
2026	41
2027	26
Thereafter	32
Total lease payments	$	367
Less: interest	(24)
Present value of lease liabilities	$	343

Computation of basic and diluted earnings per common share


Computation of basic and diluted earnings per common share
	For the years ended December 31,
($ in millions, except per share data)	2022		2021		2020
Numerator:
Net (loss) income from continuing operations	$	(1,364)	$	5,159	$	5,429
Less: Net loss attributable to noncontrolling interest	(53)		(33)		—
Net (loss) income from continuing operations attributable to Allstate	(1,311)		5,192		5,429
Less: Preferred stock dividends	105		114		115
Net (loss) income from continuing operations applicable to common shareholders	(1,416)		5,078		5,314
Income (loss) from discontinued operations, net of tax	—		(3,593)		147
Net (loss) income applicable to common shareholders	$	(1,416)	$	1,485	$	5,461

Denominator:
Weighted average common shares outstanding	271.2		294.8		311.6
Effect of dilutive potential common shares (1):
Stock options	—		2.7		2.2
Restricted stock units (non-participating) and performance stock awards	—		1.6		1.7
Weighted average common and dilutive potential common shares outstanding	271.2		299.1		315.5

Earnings per share applicable to common shareholders
Basic
Continuing operations	$	(5.22)	$	17.23	$	17.06
Discontinued operations	—		(12.19)		0.47
Total	$	(5.22)	$	5.04	$	17.53

Diluted (1)
Continuing operations	$	(5.22)	$	16.98	$	16.84
Discontinued operations	—		(12.02)		0.47
Total	$	(5.22)	$	4.96	$	17.31

Anti-dilutive options excluded from diluted earnings per common share	1.7		1.3		2.9
Weighted average dilutive potential common shares excluded due to net loss applicable to common shareholders (1)	3.1		—		—

Impact Of Adoption To AOCI And Net Income

Impact of adoption to AOCI and net income

As of and for the years ended December 31,

2022

2021

Ending AOCI (1)

$0 million to $(50) million

$(200) million to $(250) million

Increase in net income

$5 million to $20 million

(1)Represents the impact of adoption to the ending balance of AOCI reported on the Consolidated Statements of Financial Position.

Impact of adoption at January 1, 2021

Decrease in equity

$250 million to $350 million

Decrease in retained income

$15 million to $35 million

Decrease in AOCI

$235 million to $315 million

Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed


Assets and liabilities recognized in the National General acquisition (1)
($ in millions)	January 4, 2021
Assets
Investments	$	4,962
Cash	400
Premiums and other receivables, net	1,539
Deferred acquisition costs (value of business acquired)	317
Reinsurance recoverables, net	1,212
Intangible assets	1,199
Other assets	734
Goodwill (2)	1,038
Total assets	11,401

Liabilities
Reserve for property and casualty insurance claims and claims expense	2,765
Reserve for future policy benefits	186
Unearned premiums	2,245
Reinsurance payable	363
Debt (3)	593
Deferred tax liabilities	162
Other liabilities	776
Total liabilities	$	7,090

(1)The amounts reflect allocation of assets acquired and liabilities assumed.

Schedule of indefinite-lived intangible assets


Intangible assets by type
($ in millions)	January 4, 2021
Distribution and customer relationships	$	795
Trade names	102
Licenses	97
Technology	205
Total	$	1,199

Schedule of disposal groups, including discontinued operations


Financial results from discontinued operations
	For the years ended December 31,
($ in millions)		2021		2020
Revenues
Life premiums and contract charges		$	1,109	$	1,350
Net investment income		1,336		1,262
Net gains (losses) on investments and derivatives		195		269
Total revenues		2,640		2,881

Costs and expenses
Life contract benefits		1,315		1,726
Interest credited to contractholder funds		414		605
Amortization of DAC		87		153
Operating costs and expenses		163		238
Restructuring and related charges		31		7
Total costs and expenses		2,010		2,729

Amortization of deferred gain on reinsurance		4		4

Income from discontinued operations before income tax expense		634		156

Income tax expense		136		9

Income from discontinued operations, net of tax		498		147

Loss on disposition of operations		(4,315)		—
Income tax benefit		(224)		—
Loss on disposition of operations, net of tax		(4,091)		—

(Loss) income from discontinued operations, net of tax		$	(3,593)	$	147


Major classes of assets and liabilities disposed in transactions
($ in millions)	Closing (1)
Assets
Investments
Fixed income securities, at fair value	$	26,425
Equity securities, at fair value	11
Mortgage loans, net	2,662
Limited partnership interests	1,624
Short-term, at fair value	643
Other investments, net	690
Total investments	$	32,055
Cash	1,081
Deferred policy acquisitions costs	996
Reinsurance recoverables, net	1,979
Accrued investment income	240
Other assets	536
Separate accounts	3,465
Total assets	$	40,352

Liabilities
Reserve for future policy benefits	$	11,573
Contractholder funds	15,880
Deferred income taxes	834
Other liabilities and accrued expenses	452
Separate accounts	3,465
Total liabilities	$	32,204

(1)The Company closed the sales of Allstate Life Insurance Company of New York and Allstate Life Insurance Company and certain affiliates on October 1, 2021 and November 1, 2021, respectively.


Cash flows from discontinued operations
	For the years ended December 31,
($ in millions)		2021		2020
Net cash provided by operating activities from discontinued operations		$	634	$	311
Net cash provided by investing activities from discontinued operations		984		330

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

Reportable Segments (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of business segments net income disclosures

A reconciliation of these measures to net income (loss) applicable to common shareholders is provided below.


Reportable segments financial performance
	For the years ended December 31,
($ in millions)	2022		2021		2020
Underwriting income (loss) by segment
Allstate Protection	$	(2,782)	$	1,785	$	4,569
Run-off Property-Liability	(129)		(120)		(144)
Total Property-Liability	(2,911)		1,665		4,425

Adjusted net income (loss) by segment, after-tax
Protection Services	169		179		153
Allstate Health and Benefits	222		208		96
Corporate and Other	(422)		(433)		(428)

Reconciling items
Property-Liability net investment income	2,190		3,118		1,421
Net gains (losses) on investments and derivatives	(1,072)		1,084		1,087
Pension and other postretirement remeasurement gains (losses)	(116)		644		51

Curtailment gains (losses)	—		—		8
Business combination expenses and amortization of purchased intangibles (1)	(113)		(157)		(106)
Business combination fair value adjustment	—		6		—
Gain (loss) on disposition (2)	89		—		—

Income tax benefit (expense) on reconciling items and other	496		(1,270)		(1,393)
Total reconciling items	1,474		3,425		1,068

Income (loss) from discontinued operations	—		(3,612)		157
Income tax benefit (expense) from discontinued operations	—		19		(10)
Total from discontinued operations	$	—	$	(3,593)	$	147

Less: Net loss attributable to noncontrolling interest (3)	(52)		(34)		—

Net (loss) income applicable to common shareholders	$	(1,416)	$	1,485	$	5,461

(1)Excludes amortization or impairment of purchased intangibles in Property-Liability, which is included above in underwriting income.

(2)Includes $83 million related to the gain on sale of headquarters in the fourth quarter of 2022 reported as other revenue in Corporate and Other segment.

(3)Reflects net loss attributable to noncontrolling interest in Property-Liability.

Schedule of business segments revenue disclosures


Reportable segments revenue information
	For the years ended December 31,
($ in millions)	2022		2021		2020
Property-Liability
Insurance premiums
Auto	$	29,715	$	27,623	$	24,640
Homeowners	10,912		9,927		8,254
Other personal lines	2,159		2,077		1,919
Commercial lines	1,123		827		767
Allstate Protection	43,909		40,454		35,580
Run-off Property-Liability	—		—		—
Total Property-Liability insurance premiums	43,909		40,454		35,580
Other revenue	1,416		1,437		857
Net investment income	2,190		3,118		1,421
Net gains (losses) on investments and derivatives	(877)		1,021		990
Total Property-Liability	46,638		46,030		38,848

Protection Services
Protection Plans	1,307		1,132		909
Roadside assistance	202		192		188
Finance and insurance products	486		440		396
Intersegment premiums and service fees (1)	149		175		147
Other revenue	347		354		208
Net investment income	48		43		44
Net gains (losses) on investments and derivatives	(52)		25		30
Total Protection Services	2,487		2,361		1,922

Allstate Health and Benefits
Employer voluntary benefits	1,036		1,031		1,094
Group health	385		350		—
Individual health	412		440		—
Other revenue	402		359		—
Net investment income	69		74		78
Net gains (losses) on investments and derivatives	(44)		7		8
Total Allstate Health and Benefits	2,260		2,261		1,180

Corporate and Other
Other revenue	179		22		—
Net investment income	96		58		47
Net gains (losses) on investments and derivatives	(99)		31		59
Total Corporate and Other	176		111		106

Intersegment eliminations (1)	(149)		(175)		(147)
Consolidated revenues	$	51,412	$	50,588	$	41,909

(1)Intersegment insurance premiums and service fees are primarily related to Arity and Allstate Roadside and are eliminated in the consolidated financial statements.

Additional significant financial performance data


Additional significant financial performance data
	For the years ended December 31,
($ in millions)	2022		2021		2020
Amortization of DAC
Property-Liability	$	5,570	$	5,313	$	4,642
Protection Services	928		795		658
Allstate Health and Benefits	146		144		177
Consolidated	$	6,644	$	6,252	$	5,477

Income tax expense (benefit)
Property-Liability	$	(427)	$	1,151	$	1,382
Protection Services	5		39		26
Allstate Health and Benefits	39		50		28
Corporate and Other	(111)		49		(63)
Consolidated	$	(494)	$	1,289	$	1,373

Summarized data for total assets and investments


Reportable segment total assets, investments and deferred policy acquisition costs
	As of December 31,
($ in millions)	2022		2021
Assets
Property-Liability	$	82,744	$	84,846
Protection Services	6,922		6,909
Allstate Health and Benefits	3,720		4,015
Corporate and Other	4,571		3,670
Consolidated	$	97,957	$	99,440

Investments (1)
Property-Liability	$	54,011	$	57,258
Protection Services	1,917		1,890
Allstate Health and Benefits	1,872		2,191
Corporate and Other	4,029		3,362
Consolidated	$	61,829	$	64,701

Deferred policy acquisition costs
Property-Liability	$	2,146	$	1,951
Protection Services	2,768		2,294
Allstate Health and Benefits	504		477
Consolidated	$	5,418	$	4,722

(1)The balances reflect the elimination of related party investments between segments.

Investments (Tables)

12 Months Ended

Dec. 31, 2022

Investments [Abstract]

Schedule of Portfolio composition


Portfolio composition
	As of December 31,
($ in millions)	2022		2021
Fixed income securities, at fair value	$	42,485	$	42,136
Equity securities, at fair value	4,567		7,061
Mortgage loans, net	762		821
Limited partnership interests	8,114		8,018
Short-term investments, at fair value	4,173		4,009
Other investments, net	1,728		2,656
Total	$	61,829	$	64,701

Schedule for fixed income securities at amortized cost, gross unrealized gains and losses and fair value


Amortized cost, gross unrealized gains (losses) and fair value for fixed income securities
	Amortized cost, net		Gross unrealized				Fair value
($ in millions)			Gains		Losses
December 31, 2022
U.S. government and agencies	$	8,123	$	6	$	(231)	$	7,898
Municipal	6,500		36		(326)		6,210
Corporate	28,562		46		(2,345)		26,263
Foreign government	997		—		(40)		957
ABS	1,188		4		(35)		1,157
Total fixed income securities	$	45,370	$	92	$	(2,977)	$	42,485

December 31, 2021
U.S. government and agencies	$	6,287	$	12	$	(26)	$	6,273
Municipal	6,130		279		(16)		6,393
Corporate	26,834		688		(192)		27,330
Foreign government	982		9		(6)		985
ABS	1,143		14		(2)		1,155
Total fixed income securities	$	41,376	$	1,002	$	(242)	$	42,136

Schedule for fixed income securities based on contractual maturities


Scheduled maturities for fixed income securities
	As of December 31, 2022				As of December 31, 2021
($ in millions)	Amortized cost, net		Fair value		Amortized cost, net		Fair value
Due in one year or less	$	2,870	$	2,836	$	1,105	$	1,111
Due after one year through five years	26,546		25,217		21,039		21,291
Due after five years through ten years	11,035		9,870		13,808		14,079
Due after ten years	3,731		3,405		4,281		4,500
	44,182		41,328		40,233		40,981
ABS	1,188		1,157		1,143		1,155
Total	$	45,370	$	42,485	$	41,376	$	42,136

Schedule of net investment income


Net investment income
	For the years ended December 31,
($ in millions)	2022		2021		2020
Fixed income securities	$	1,255	$	1,148	$	1,232
Equity securities	132		100		78
Mortgage loans	33		43		34
Limited partnership interests	985		1,973		238
Short-term investments	82		5		17
Other investments	162		195		124
Investment income, before expense	2,649		3,464		1,723
Investment expense	(246)		(171)		(133)
Net investment income	$	2,403	$	3,293	$	1,590


Gross realized gains (losses) on sales of fixed income securities
	For the years ended December 31,
($ in millions)	2022		2021		2020
Gross realized gains	$	136	$	587	$	1,105
Gross realized losses	(1,004)		(158)		(177)


Net appreciation (decline) recognized in net income for assets that are still held
	For the years ended December 31,
($ in millions)	2022		2021		2020
Equity securities	$	(466)	$	377	$	247
Limited partnership interests carried at fair value	(5)		435		150
Total	$	(471)	$	812	$	397

Schedule of realized capital gains and losses by asset type


Net gains (losses) on investments and derivatives by asset type
	For the years ended December 31,
($ in millions)	2022		2021		2020
Fixed income securities	$	(875)	$	425	$	925
Equity securities	(900)		520		117
Mortgage loans	(1)		20		(1)
Limited partnership interests	(191)		(52)		(14)
Derivatives	874		49		49
Other investments	21		122		11
Net gains (losses) on investments and derivatives	$	(1,072)	$	1,084	$	1,087

Schedule of realized capital gains and losses by transaction type


Net gains (losses) on investments and derivatives by transaction type
	For the years ended December 31,
($ in millions)	2022		2021		2020
Sales	$	(832)	$	578	$	974
Credit losses	(54)		(42)		(32)
Valuation change of equity investments (1)	(1,060)		499		96
Valuation change and settlements of derivatives	874		49		49
Net gains (losses) on investments and derivatives	$	(1,072)	$	1,084	$	1,087

(1)Includes valuation change of equity securities and certain limited partnership interests where the underlying assets are predominately public equity securities.

Schedule of credit losses on fixed income securities recognized in earnings


Credit losses recognized in net income
	For the years ended December 31,
($ in millions)		2022		2021		2020
Assets
Fixed income securities:

Corporate		$	(6)	$	(5)	$	(1)
ABS		(1)		1		(2)
Total fixed income securities		(7)		(4)		(3)
Mortgage loans		(1)		18		(1)
Limited partnership interests		(4)		(34)		(6)
Other investments
Bank loans		(26)		(22)		(23)
Real estate		(16)		—		—
Total credit losses by asset type		$	(54)	$	(42)	$	(33)

Liabilities
Commitments to fund commercial mortgage loans and bank loans		—		—		1
Total		$	(54)	$	(42)	$	(32)

Schedule of unrealized net capital gains and losses


Unrealized net capital gains and losses included in AOCI
($ in millions)	Fair value		Gross unrealized				Unrealized net gains (losses)
December 31, 2022			Gains		Losses
Fixed income securities	$	42,485	$	92	$	(2,977)	$	(2,885)
Short-term investments	4,173		—		(1)		(1)
Derivative instruments	—		—		(3)		(3)
Limited partnership interests (1)							2

Unrealized net capital gains and losses, pre-tax							(2,887)
Other unrealized net capital gains and losses, pre-tax (2)							26
Deferred income taxes							608
Unrealized net capital gains and losses, after-tax							$	(2,253)

December 31, 2021
Fixed income securities	$	42,136	$	1,002	$	(242)	$	760
Short-term investments	4,009		—		—		—
Derivative instruments	—		—		(3)		(3)
Limited partnership interests							(1)
Unrealized net capital gains and losses, pre-tax							756
Other unrealized net capital gains and losses, pre-tax (2)							5
Deferred income taxes							(163)
Unrealized net capital gains and losses, after-tax							$	598

Schedule of change in unrealized net capital gains and losses


Change in unrealized net capital gains (losses)
	For the years ended December 31,
($ in millions)	2022		2021		2020
Fixed income securities	$	(3,645)	$	(1,771)	$	2,152

Short-term investments	(1)		—		—
Derivative instruments	—		—		—
Limited partnerships interests	3		—		—
Investments classified as held for sale	—		(2,369)		—
Total	(3,643)		(4,140)		2,152
Other unrealized net capital gains and losses, pre-tax	21		865		(510)
Deferred income taxes	771		693		(349)
(Decrease) increase in unrealized net capital gains and losses, after-tax	$	(2,851)	$	(2,582)	$	1,293


Principal geographic distribution of commercial real estate exceeding 5% of the mortgage loans portfolio
	As of December 31,
(% of mortgage loan portfolio carrying value)	2022		2021
California	24.9	%	19.6	%
Texas	16.3		20.4
Washington	7.3		4.3
Florida	6.4		6.0
Tennessee	6.1		5.7
Ohio	5.6		5.3
Massachusetts	2.6		5.7
Illinois	2.4		6.7


Types of properties collateralizing the mortgage loan portfolio
	As of December 31,
(% of mortgage loan portfolio carrying value)	2022		2021
Apartment complex	30.2	%	35.3	%
Retail	27.4		23.8
Office	17.5		18.5
Warehouse	16.0		11.0
Other	8.9		11.4
Total	100.0	%	100.0	%


Contractual maturities of the mortgage loan portfolio
	As of December 31, 2022
($ in millions)	Number of loans	Amortized cost, net		Percent
2023	6	$	61	8.0	%
2024	5	89		11.7
2025	7	85		11.2
2026	5	100		13.1
Thereafter	28	427		56.0
Total	51	$	762	100.0	%

Carrying value for limited partnership interests


Carrying value for limited partnership interests
	As of December 31, 2022						As of December 31, 2021
($ in millions)	EMA		Fair Value		Total		EMA		Fair Value		Total
Private equity	$	5,372	$	1,217	$	6,589	$	4,905	$	1,434	$	6,339
Real estate	1,013		29		1,042		823		97		920
Other (1)	483		—		483		759		—		759
Total	$	6,868	$	1,246	$	8,114	$	6,487	$	1,531	$	8,018

(1)Other consists of certain limited partnership interests where the underlying assets are predominately public equity and debt securities.

Principal geographic distribution of municipal bond


Principal geographic distribution of municipal bond issuers exceeding 5% of the portfolio
	As of December 31,
(% of municipal bond portfolio carrying value)	2022		2021
Texas	9.6	%	8.7	%
California	8.5		11.8
New York	6.7		5.1
Illinois	5.6		4.1
Pennsylvania	5.4		5.4
Florida	5.0		4.2

Schedule of other investments, by type


Other investments by asset type
	As of December 31,
($ in millions)	2022		2021
Bank loans, net	$	686	$	1,574
Real estate	813		809
Policy loans	120		148
Derivatives	1		12
Other	108		113
Total	$	1,728	$	2,656

Schedule of allowance for credit loss


Rollforward of credit loss allowance for premium installment receivables
	For the years ended December 31,
($ in millions)	2022		2021
Beginning balance	$	(107)	$	(153)
Increase in the provision for credit losses	(313)		(293)
Write-off of uncollectible premium installment receivable amounts	288		339
Ending balance	$	(132)	$	(107)


Allowance for credit losses
	As of December 31,
($ in millions)	2022		2021
Fixed income securities	$	13	$	6
Mortgage loans	7		6
Bank loans	57		61
Investments	77		73
Premium installment receivables	132		107
Reinsurance recoverables	65		74
Other assets	19		26
Assets	293		280

Commitments to fund mortgage loans and bank loans	—		—
Liabilities	—		—
Total	$	293	$	280


Rollforward of credit loss allowance for fixed income securities
	For the years ended December 31,
($ in millions)	2022		2021		2020
Beginning balance	$	(6)	$	(2)	$	—
Credit losses on securities for which credit losses not previously reported	(1)		(5)		(2)
Net increases related to credit losses previously reported	(6)		1		—
Reduction of allowance related to sales	—		—		—
Write-offs	—		—		—
Ending balance	$	(13)	$	(6)	$	(2)

Components of credit loss allowance
Corporate bonds	$	(11)	$	(6)	$	(1)
ABS	(2)		—		(1)
Total	$	(13)	$	(6)	$	(2)


Rollforward of credit loss allowance for mortgage loans
	For the years ended December 31,
($ in millions)	2022		2021		2020
Beginning balance	$	(6)	$	(67)	$	(3)
Cumulative effect of change in accounting principle	—		—		(42)
Net (increases) decreases related to credit losses	(1)		40		(39)
Reduction of allowance related to sales	—		21		17
Write-offs	—		—		—
Ending balance (1)	$	(7)	$	(6)	$	(67)

(1)Includes $59 million of credit loss allowance for mortgage loans that are classified as held for sale as of December 31, 2020.


Rollforward of credit loss allowance for bank loans
	For the years ended December 31,
($ in millions)	2022		2021		2020
Beginning balance	$	(61)	$	(67)	$	—
Cumulative effect of change in accounting principle	—		—		(53)
Net decreases related to credit losses	(26)		(15)		(28)
Reduction of allowance related to sales	30		21		9
Write-offs	—		—		5
Ending balance (1)	$	(57)	$	(61)	$	(67)

(1)Includes $16 million of credit loss allowance for bank loans that are classified as held for sale as of December 31, 2020.

Schedule of gross unrealized losses and fair value of available for sale securities by length of time


Gross unrealized losses and fair value by type and length of time held in a continuous unrealized loss position

	Less than 12 months					12 months or more
($ in millions)	Number of issues	Fair value		Unrealized losses		Number of issues	Fair value		Unrealized losses		Total unrealized losses
December 31, 2022
Fixed income securities
U.S. government and agencies	112	$	4,900	$	(138)	75	$	2,393	$	(93)	$	(231)
Municipal	3,015	3,944		(215)		507	740		(111)		(326)
Corporate	2,085	18,072		(1,389)		845	6,105		(956)		(2,345)
Foreign government	74	739		(22)		42	200		(18)		(40)
ABS	194	874		(27)		83	109		(8)		(35)
Total fixed income securities	5,480	$	28,529	$	(1,791)	1,552	$	9,547	$	(1,186)	$	(2,977)
Investment grade fixed income securities	4,959	$	25,487	$	(1,409)	1,437	$	8,791	$	(1,009)	$	(2,418)
Below investment grade fixed income securities	521	3,042		(382)		115	756		(177)		(559)
Total fixed income securities	5,480	$	28,529	$	(1,791)	1,552	$	9,547	$	(1,186)	$	(2,977)

December 31, 2021
Fixed income securities
U.S. government and agencies	112	$	5,451	$	(24)	4	$	72	$	(2)	$	(26)
Municipal	767	1,213		(15)		2	14		(1)		(16)
Corporate	1,197	9,725		(176)		22	130		(16)		(192)
Foreign government	51	415		(6)		4	3		—		(6)
ABS	80	500		(2)		53	8		—		(2)
Total fixed income securities	2,207	$	17,304	$	(223)	85	$	227	$	(19)	$	(242)
Investment grade fixed income securities	1,993	$	15,391	$	(188)	71	$	183	$	(8)	$	(196)
Below investment grade fixed income securities	214	1,913		(35)		14	44		(11)		(46)
Total fixed income securities	2,207	$	17,304	$	(223)	85	$	227	$	(19)	$	(242)

Schedule of accrued interest


Accrued interest
	As of December 31,
($ in millions)	2022		2021
Mortgage loans	$	3	$	2
Bank Loans	3		4

Schedule of Gross unrealized loss and Mortgage loans amortized cost by debt


Gross unrealized losses by unrealized loss position and credit quality as of December 31, 2022
($ in millions)	Investment grade		Below investment grade		Total
Fixed income securities with unrealized loss position less than 20% of amortized cost, net (1) (2)	$	(2,058)	$	(388)	$	(2,446)
Fixed income securities with unrealized loss position greater than or equal to 20% of amortized cost, net (3) (4)	(360)		(171)		(531)
Total unrealized losses	$	(2,418)	$	(559)	$	(2,977)

(1)Below investment grade fixed income securities include $302 million that have been in an unrealized loss position for less than twelve months.

(2)Related to securities with an unrealized loss position less than 20% of amortized cost, net, the degree of which suggests that these securities do not pose a high risk of having credit losses.

(3)No below investment grade fixed income securities have been in an unrealized loss position for a period of twelve or more consecutive months.


Mortgage loans amortized cost by debt service coverage ratio distribution and year of origination
	December 31, 2022														December 31, 2021
($ in millions)	2017 and prior		2018		2019		2020		2021		Current		Total		Total
Below 1.0	$	—	$	—	$	—	$	—	$	—	$	18	$	18	$	—
1.0 - 1.25	10		—		—		10		—		22		42		46
1.26 - 1.50	37		5		102		—		—		7		151		160
Above 1.50	36		73		136		42		217		54		558		621
Amortized cost before allowance	$	83	$	78	$	238	$	52	$	217	$	101	$	769	$	827
Allowance													(7)		(6)
Amortized cost, net													$	762	$	821

Schedule of bank loans amortized cost by credit quality and year of origination


Bank loans amortized cost by credit rating and year of origination
($ in millions)	December 31, 2022														December 31, 2021
	2017 and prior		2018		2019		2020		2021		Current		Total		Total
NAIC 2 / BBB	$	—	$	—	$	6	$	6	$	37	$	5	$	54	$	86
NAIC 3 / BB	6		—		5		2		239		14		266		656
NAIC 4 / B	7		16		17		15		241		33		329		768
NAIC 5-6 / CCC and below	21		10		36		8		14		5		94		125
Amortized cost before allowance	$	34	$	26	$	64	$	31	$	531	$	57	$	743	$	1,635
Allowance													(57)		(61)
Amortized cost, net													$	686	$	1,574

Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities that are measured at fair value on a recurring and non-recurring basis


Assets and liabilities measured at fair value
	As of December 31, 2022
($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Counterparty and cash collateral netting			Total
Assets
Fixed income securities:
U.S. government and agencies	$	7,878		$	20		$	—					$	7,898
Municipal	—			6,189			21						6,210
Corporate - public	—			18,547			69						18,616
Corporate - privately placed	—			7,592			55						7,647
Foreign government	—			957			—						957
ABS	—			1,129			28						1,157
Total fixed income securities	7,878			34,434			173						42,485
Equity securities	3,936			298			333						4,567
Short-term investments	508			3,659			6						4,173
Other investments	—			23			3			$	(22)		4
Other assets	3			—			103						106
Total recurring basis assets	12,325			38,414			618			(22)			51,335
Non-recurring basis	—			—			23						23
Total assets at fair value	$	12,325		$	38,414		$	641		$	(22)		$	51,358
% of total assets at fair value	24.0		%	74.8		%	1.2		%	—		%	100.0		%

Investments reported at NAV													1,246
Total													$	52,604
Liabilities
Other liabilities	$	(1)		$	(25)		$	—		$	21		$	(5)
Total recurring basis liabilities	(1)			(25)			—			21			(5)
Total liabilities at fair value	$	(1)		$	(25)		$	—		$	21		$	(5)
% of total liabilities at fair value	20.0		%	500.0		%	—		%	(420.0)		%	100.0		%


Assets and liabilities measured at fair value
	As of December 31, 2021
($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Counterparty and cash collateral netting			Total
Assets
Fixed income securities:
U.S. government and agencies	$	6,247		$	26		$	—					$	6,273
Municipal	—			6,375			18						6,393
Corporate - public	—			16,569			20						16,589
Corporate - privately placed	—			10,675			66						10,741
Foreign government	—			985			—						985
ABS	—			1,115			40						1,155
Total fixed income securities	6,247			35,745			144						42,136
Equity securities	6,312			400			349						7,061
Short-term investments	1,140			2,864			5						4,009
Other investments	—			34			2			$	(22)		14
Other assets	1			—			65						66
Total recurring basis assets	13,700			39,043			565			(22)			53,286
Non-recurring basis	—			—			32						32
Total assets at fair value	$	13,700		$	39,043		$	597		$	(22)		$	53,318
% of total assets at fair value	25.7		%	73.2		%	1.1		%	—		%	100.0		%

Investments reported at NAV													1,531
Total													$	54,849
Liabilities
Other liabilities	$	(3)		$	(12)		$	—		$	7		$	(8)
Total recurring basis liabilities	(3)			(12)			—			7			(8)
Total liabilities at fair value	$	(3)		$	(12)		$	—		$	7		$	(8)
% of total liabilities at fair value	37.5		%	150.0		%	—		%	(87.5)		%	100.0		%

Schedule of the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis


Rollforward of Level 3 assets and liabilities held at fair value during the year ended December 31, 2022
	Balance as of December 31, 2021		Total gains (losses) included in:				Transfers																Balance as of December 31, 2022
($ in millions)			Net income		OCI		Into Level 3		Out of Level 3		Purchases			Sales			Issues			Settlements
Assets
Fixed income securities:
Municipal	$	18	$	—	$	1	$	2	$	—		$	2		$	—		$	—		$	(2)	$	21
Corporate - public	20		—		(5)		—		—			66			(10)			—			(2)		69
Corporate - privately placed	66		19		2		—		—			34			(65)			—			(1)		55
ABS	40		1		—		—		(28)			17			—			—			(2)		28
Total fixed income securities	144		20		(2)		2		(28)			119			(75)			—			(7)		173
Equity securities	349		16		—		—		—			13			(45)			—			—		333
Short-term investments	5		—		—		—		—			23			—			—			(22)		6
Other investments	2		2		—		—		—			—			(1)			—			—		3
Other assets	65		38		—		—		—			—			—			—			—		103

Total recurring Level 3 assets	565		76		(2)		2		(28)			155			(121)			—			(29)		618
Liabilities

Total recurring Level 3 liabilities	$	—	$	—	$	—	$	—	$	—		$	—		$	—		$	—		$	—	$	—


Rollforward of Level 3 assets and liabilities held at fair value during the year ended December 31, 2021
	Balance as of December 31, 2020		Total gains (losses) included in:				Transfers													Balance as of December 31, 2021
($ in millions)			Net income		OCI		Into Level 3		Out of Level 3		Purchases	Sales		Issues		Settlements
Assets
Fixed income securities:
Municipal	$	17	$	—	$	—	$	1	$	—		$	3	$	—	$	—	$	(3)	$	18
Corporate - public	67		1		(1)		—		—			13		(53)		—		—		20
Corporate - privately placed	63		(2)		3		10		—			6		(23)		—		(5)		66
ABS	79		—		1		4		(32)			47		(5)		—		(54)		40
Total fixed income securities	226		(1)		3		15		(32)			69		(81)		—		(62)		144
Equity securities	304		61		—		—		—			43		(160)		—		—		349
Short-term investments	35		—		—		—		—			5		—		—		(35)		5
Other investments	—		—		—		—		—			3		(1)		—		—		2
Other assets	—		65		—		—		—			—		—		—		—		65
Assets held for sale	267		3		(1)		17		(13)			4		(163)		—		(6)		—
Total recurring Level 3 assets	832		128		2		32		(45)			124		(405)		—		(103)		565
Liabilities
Liabilities held for sale	(516)		35		—		—		—			—		492		(28)		17		—
Total recurring Level 3 liabilities	$	(516)	$	35	$	—	$	—	$	—		$	—	$	492	$	(28)	$	17	$	—


Rollforward of Level 3 assets and liabilities held at fair value during the year ended December 31, 2020
	Balance as of December 31, 2019		Total gains (losses) included in:				Transfers																Balance as of December 31, 2020
($ in millions)			Net income		OCI		Into Level 3		Out of Level 3		Purchases			Sales			Issues			Settlements
Assets
Fixed income securities:
Municipal	$	22	$	—	$	—	$	—	$	—		$	—		$	(3)		$	—		$	(2)	$	17
Corporate - public	36		—		1		1		—			48			(19)			—			—		67
Corporate - privately placed	32		—		(5)		21		—			17			(2)			—			—		63
ABS	84		(1)		—		54		(49)			59			(26)			—			(42)		79
Total fixed income securities	174		(1)		(4)		76		(49)			124			(50)			—			(44)		226
Equity securities	255		—		—		—		—			57			(8)			—			—		304
Short-term investments	25		—		—		—		(25)			35			—			—			—		35
Assets held for sale	284		1		(8)		52		(42)			24			(37)			—			(7)		267
Total recurring Level 3 assets	738		—		(12)		128		(116)			240			(95)			—			(51)		832
Liabilities
Liabilities held for sale	(462)		(43)		—		—		—			—			—			(34)			23		(516)
Total recurring Level 3 liabilities	$	(462)	$	(43)	$	—	$	—	$	—		$	—		$	—		$	(34)		$	23	$	(516)


Total Level 3 gains (losses) included in net income
	For the years ended December 31,
($ in millions)	2022		2021		2020
Net investment income	$	15	$	1	$	(16)
Net gains (losses) on investments and derivatives	61		124		15

Schedule of gains and losses included in net income for Level 3 assets and liabilities still held at the balance sheet date


Valuation changes included in net income and OCI for Level 3 assets and liabilities held as of December 31,
($ in millions)	2022		2021		2020
Assets
Fixed income securities:

Corporate - public	$	—	$	—	$	(1)
Corporate - privately placed	1		(2)		—

Total fixed income securities	1		(2)		(1)
Equity securities	14		28		(1)

Other investments	2		—		—
Other assets	38		65		—
Total recurring Level 3 assets	$	55	$	91	$	(2)
Liabilities
Liabilities held for sale	$	—	$	—	$	(43)
Total recurring Level 3 liabilities	—		—		(43)
Total included in net income	$	55	$	91	$	(45)

Components of net income
Net investment income	$	14	$	1	$	(16)
Net gains (losses) on investments and derivatives	41		90		14
Total included in net income	$	55	$	91	$	(2)

Assets
Municipal	$	1	$	—	$	—
Corporate - public	(5)		—		1
Corporate - privately placed	—		3		(5)

Assets held for sale	—		—		(5)
Changes in unrealized net capital gains and losses reported in OCI	$	(4)	$	3	$	(9)

Schedule of carrying values and fair value estimates of financial instruments not carried at fair value


Financial instruments not carried at fair value
($ in millions)		December 31, 2022				December 31, 2021
Financial assets	Fair value level	Amortized cost, net		Fair value		Amortized cost, net		Fair value
Mortgage loans	Level 3	$	762	$	700	$	821	$	853
Bank loans	Level 3	686		686		1,574		1,634

Financial liabilities	Fair value level	Carrying value (1)		Fair value		Carrying value (1)		Fair value
Contractholder funds on investment contracts	Level 3	$	50	$	50	$	55	$	55
Debt	Level 2	7,964		7,449		7,976		9,150
Liability for collateral	Level 2	2,011		2,011		1,444		1,444

(1)Represents the amounts reported on the Consolidated Statements of Financial Position.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Derivative Financial Instruments and Off-balance Sheet Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Financial Instruments and Off-balance sheet Financial Instruments

Volume and fair value positions of derivative instruments and location in the Consolidated Statement of Financial Position


Summary of the volume and fair value positions of derivative instruments as of December 31, 2022
		Volume (1)
($ in millions, except number of contracts)	Balance sheet location	Notional amount		Number of contracts	Fair value, net		Gross asset		Gross liability
Asset derivatives



Derivatives not designated as accounting hedging instruments
Interest rate contracts


Futures	Other assets	n/a		24,380	$	3	$	3	$	—
Equity and index contracts

Futures	Other assets	n/a		343	—		—		—



Foreign currency contracts
Foreign currency forwards	Other investments	$	354	n/a	1		14		(13)

Contingent consideration	Other assets	250		n/a	103		103		—
Credit default contracts
Credit default swaps – buying protection	Other investments	24		n/a	—		1		(1)




Total asset derivatives		$	628	24,723	$	107	$	121	$	(14)

Liability derivatives


Derivatives not designated as accounting hedging instruments
Interest rate contracts



Futures	Other liabilities & accrued expenses	n/a		1,624	$	—	$	—	$	—
Equity and index contracts

Futures	Other liabilities & accrued expenses	n/a		1,229	(1)		—		(1)



Foreign currency contracts
Foreign currency forwards	Other liabilities & accrued expenses	$	283	n/a	—		7		(7)

Credit default contracts
Credit default swaps – buying protection	Other liabilities & accrued expenses	525		n/a	(3)		1		(4)


Total liability derivatives		808		2,853	(4)		$	8	$	(12)
Total derivatives		$	1,436	27,576	$	103


Summary of the volume and fair value positions of derivative instruments as of December 31, 2021
		Volume (1)
($ in millions, except number of contracts)	Balance sheet location	Notional amount		Number of contracts	Fair value, net		Gross asset		Gross liability
Asset derivatives



Derivatives not designated as accounting hedging instruments
Interest rate contracts


Futures	Other assets	n/a		1,181	$	1	$	1	$	—
Equity and index contracts
Options	Other investments	n/a		61	5		5		—
Futures	Other assets	n/a		113	—		—		—



Foreign currency contracts
Foreign currency forwards	Other investments	$	2	n/a	—		—		—


Embedded derivative financial instruments	Other investments	750		n/a	—		—		—
Contingent consideration	Other assets	250		n/a	65		65		—
Credit default contracts
Credit default swaps – buying protection	Other investments	33		n/a	(1)		—		(1)
Credit default swaps – selling protection	Other investments	250		n/a	6		6		—




Total asset derivatives		$	1,285	1,355	$	76	$	77	$	(1)

Liability derivatives


Derivatives not designated as accounting hedging instruments
Interest rate contracts



Futures	Other liabilities & accrued expenses	n/a		36,668	$	(2)	$	—	$	(2)
Equity and index contracts

Futures	Other liabilities & accrued expenses	n/a		1,260	(1)		—		(1)



Foreign currency contracts
Foreign currency forwards	Other liabilities & accrued expenses	715		n/a	16		23		(7)


Credit default contracts
Credit default swaps – buying protection	Other liabilities & accrued expenses	70		n/a	(4)		—		(4)
Credit default swaps – selling protection	Other liabilities & accrued expenses	5		n/a	—		—		—


Total liability derivatives		790		37,928	9		$	23	$	(14)
Total derivatives		$	2,075	39,283	$	85

Schedule of gross and net amount for the Company's OTC derivatives subject to enforceable master netting arrangements


Gross and net amounts for OTC derivatives (1)
			Offsets
($ in millions)	Gross amount		Counter- party netting		Cash collateral (received) pledged		Net amount on balance sheet		Securities collateral (received) pledged		Net amount
December 31, 2022
Asset derivatives	$	23	$	(22)	$	—	$	1	$	—	$	1
Liability derivatives	(22)		22		(1)		(1)		—		(1)

December 31, 2021
Asset derivatives	$	23	$	(24)	$	2	$	1	$	—	$	1
Liability derivatives	(10)		24		(17)		(3)		—		(3)

(1)All OTC derivatives are subject to enforceable master netting agreements.

Gains and losses from valuation, settlements, and hedge ineffectiveness, fair value hedges and derivatives not designated as hedges


Gains (losses) from valuation and settlements reported on derivatives not designated as accounting hedges
($ in millions)	Net gains (losses) on investments and derivatives		Accident, health and other policy benefits		Operating costs and expenses		(Loss) income from discontinued operations		Total gain (loss) recognized in net income on derivatives
2022
Interest rate contracts	$	737	$	—	$	—	$	—	$	737
Equity and index contracts	94		—		(43)		—		51
Contingent consideration	—		—		38		—		38
Foreign currency contracts	47		—		(6)		—		41
Credit default contracts	(4)		—		—		—		(4)


Other contracts	—		—		(1)		—		(1)
Total	$	874	$	—	$	(12)	$	—	$	862

2021
Interest rate contracts	$	22	$	—	$	—	$	—	$	22
Equity and index contracts	(7)		27		45		—		65
Contingent consideration	—		—		—		65		65
Foreign currency contracts	32		—		—		—		32
Credit default contracts	7		—		—		—		7
Total return swaps - fixed income	4		—		—		—		4


Total	$	58	$	27	$	45	$	65	$	195

2020
Interest rate contracts	$	36	$	—	$	—	$	—	$	36
Equity and index contracts	15		—		29		—		44

Foreign currency contracts	(13)		—		—		—		(13)
Credit default contracts	6		—		—		—		6
Total return swaps - fixed income	1		—		—		—		1
Total return swaps - equity	4		—		—		—		4

Total	$	49	$	—	$	29	$	—	$	78

OTC cash and securities collateral pledged


OTC cash and securities collateral pledged
($ in millions)	December 31, 2022
Pledged by the Company	$	11
Pledged to the Company (1)	12

(1)$10 million of collateral was posted under MNAs for contracts containing credit-risk-contingent provisions that are in a liability provision.

Counterparty credit exposure by counterparty credit rating


OTC derivatives counterparty credit exposure by counterparty credit rating
($ in millions)	December 31, 2022							December 31, 2021
Rating (1)	Number of counter-parties	Notional amount (2)		Credit exposure (2)		Exposure, net of collateral (2)		Number of counter-parties	Notional amount (2)		Credit exposure (2)		Exposure, net of collateral (2)
A+	1	$	128	$	5	$	—	1	$	199	$	7	$	—
A	1	192		7		—		1	367		9		—



Total	2	$	320	$	12	$	—	2	$	566	$	16	$	—

(1)Allstate uses the lower of S&P’s or Moody’s long-term debt issuer ratings.

(2)Only OTC derivatives with a net positive fair value are included for each counterparty.

Exchange traded and cleared margin deposits


Exchange traded and cleared margin deposits
($ in millions)	December 31, 2022
Pledged by the Company	$	177
Received by the Company	—

Derivative instruments with credit features in a liability position, including fair value of assets and collateral netted against the liability



($ in millions)	December 31, 2022		December 31, 2021
Gross liability fair value of contracts containing credit-risk-contingent features	$	21	$	8
Gross asset fair value of contracts containing credit-risk-contingent features and subject to MNAs	(11)		(7)
Collateral posted under MNAs for contracts containing credit-risk-contingent features	(10)		—
Maximum amount of additional exposure for contracts with credit-risk-contingent features if all features were triggered concurrently	$	—	$	1

Schedule of derivative CDS notional amount by credit rating and fair value of protection sold


CDS notional amounts by credit rating and fair value of protection sold
	Notional amount
($ in millions)	AAA		AA		A		BBB		BB and lower		Total		Fair value







December 31, 2021
Single name
Corporate debt	$	—	$	—	$	—	$	—	$	5	$	5	$	—
Index
Corporate debt	2		4		46		190		8		250		6
Total	$	2	$	4	$	46	$	190	$	13	$	255	$	6

Contractual amounts of off-balance-sheet financial instruments


Contractual amounts of off-balance sheet financial instruments
	As of December 31,
($ in millions)	2022		2021
Commitments to invest in limited partnership interests	$	2,778	$	2,720
Private placement commitments	114		104
Other loan commitments	10		16

Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of variable interest entities


Assets and liabilities of Reciprocal Exchanges
($ in millions)	December 31, 2022		December 31, 2021
Assets
Fixed income securities	$	302	$	324
Short-term investments	13		30
Deferred policy acquisition costs	15		15
Premium installment and other receivables, net	43		42
Reinsurance recoverables, net	97		114
Other assets	90		82
Total assets	560		607
Liabilities
Reserve for property and casualty insurance claims and claims expense	209		226
Unearned premiums	171		175
Other liabilities and expenses	311		265
Total liabilities	$	691	$	666

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Reserve for Property and Casualty Insurance Claims and Claims Expense (Tables)

12 Months Ended

Dec. 31, 2022

Reserve for Property-Liability Insurance Claims and Claims Expense

Activity in the reserve for property-liability insurance claims and claims expense


Rollforward of reserve for property and casualty insurance claims and claims expense
($ in millions)	2022		2021		2020
Balance as of January 1	$	33,060	$	27,610	$	27,712
Less recoverables (1)	(9,479)		(7,033)		(6,912)
Net balance as of January 1	23,581		20,577		20,800
National General acquisition as of January 4, 2021	—		1,797		—
SafeAuto acquisition as of October 1, 2021	—		134		—
Incurred claims and claims expense related to:
Current year	35,523		29,196		22,437
Prior years	1,741		122		(436)
Total incurred	37,264		29,318		22,001
Claims and claims expense paid related to:
Current year	(20,739)		(18,438)		(14,245)
Prior years	(11,741)		(9,807)		(7,979)
Total paid	(32,480)		(28,245)		(22,224)
Net balance as of December 31	28,365		23,581		20,577
Plus recoverables	9,176		9,479		7,033
Balance as of December 31	$	37,541	$	33,060	$	27,610

(1) Recoverables comprises reinsurance and indemnification recoverables. See Note 11 for further details.


Reconciliation of total claims and claims expense incurred and paid by coverage
	December 31, 2022
($ in millions)	Incurred		Paid
Allstate Protection
Auto insurance - liability coverage	$	14,376	$	(11,173)
Auto insurance - physical damage coverage	9,411		(8,802)
Homeowners insurance	6,971		(5,977)
Total auto and homeowners insurance	30,758		(25,952)
Other personal lines	1,520		(1,317)
Commercial lines	1,256		(817)
Protection Services	440		(438)
Run-off Property-Liability	116		(86)
Unallocated loss adjustment expenses (“ULAE”)	3,048		(2,847)
Claims incurred and paid from before 2018	80		(787)
Other (1)	46		(236)
Total	$	37,264	$	(32,480)

(1)Paid and incurred amounts primarily related to the effect of foreign currency translation adjustments. Additionally, paid includes the acquisition of SafeAuto.


Prior year reserve reestimates included in claims and claims expense (1)
	Twelve months ended December 31,
	Non-catastrophe losses						Catastrophe losses						Total
($ in millions)	2022		2021		2020		2022		2021(2)(3)		2020 (4)		2022		2021		2020
Auto	$	1,249	$	178	$	(63)	$	(64)	$	(29)	$	(44)	$	1,185	$	149	$	(107)
Homeowners	113		12		(17)		81		(165)		(422)		194		(153)		(439)
Other personal lines	(34)		(96)		(27)		2		(11)		(39)		(32)		(107)		(66)
Commercial lines	273		116		34		(1)		3		2		272		119		36
Run-off Property-Liability (5)	125		116		141		—		—		—		125		116		141
Protection Services	(3)		(2)		(1)		—		—		—		(3)		(2)		(1)
Total prior year reserve reestimates	$	1,723	$	324	$	67	$	18	$	(202)	$	(503)	$	1,741	$	122	$	(436)

(1)Favorable reserve reestimates are shown in parentheses.

(3)Includes approximately $110 million favorable subrogation settlements arising from the Woolsey wildfire, which primarily impacted homeowners reestimates.

(4)Includes approximately $495 million of favorable reserve reestimates related to the PG&E Corporation and Southern California Edison subrogation settlements, which primarily impacted homeowners.

Short-duration insurance contracts, claims development

The information about incurred and paid claims development for the 2018 to 2022 years, and the average annual percentage payout of incurred claims by age as of December 31, 2022, is presented as required supplementary information.

Auto insurance – liability coverage


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables												IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										Prior year reserve reestimates		As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	9,788	$	9,758	$	9,798	$	9,835	$	9,928	$	93	$	603	2,500,972
2019	—		10,526		10,471		10,716		10,905		189		1,242		2,637,152
2020	—		—		8,748		8,744		8,984		240		1,813		1,904,004
2021	—		—		—		10,365		10,823		458		3,488		2,291,873
2022	—		—		—		—		13,396				8,904		2,311,893
							Total		$	54,036	$	980
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years											152
Prior year reserve reestimates for ULAE											18
Other											4
Total prior year reserve reestimates											$	1,154

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	3,663	$	6,404	$	7,785	$	8,703	$	9,325
2019	—		3,974		7,080		8,651		9,663
2020	—		—		3,135		5,858		7,171
2021	—		—		—		3,601		7,335
2022	—		—		—		—		4,492
							Total		$	37,986
All outstanding liabilities before 2018, net of recoverables									1,332
Liabilities for claims and claim adjustment expenses, net of recoverables									$	17,382

(1) Results include certain National General commercial lines insurance products.

Auto insurance – physical damage coverage


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables												IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										Prior year reserve reestimates		As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	5,775	$	5,692	$	5,647	$	5,640	$	5,637	$	(3)	$	—	4,686,877
2019	—		6,255		6,174		6,136		6,134		(2)		(1)		4,861,875
2020	—		—		5,495		5,407		5,381		(26)		(7)		4,013,428
2021	—		—		—		7,285		7,342		57		(23)		4,587,385
2022	—		—		—		—		9,385				1,060		4,711,189
							Total		$	33,879	$	26
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years											—
Prior year reserve reestimates for ULAE											3
Other											2
Total prior year reserve reestimates											$	31

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	5,464	$	5,681	$	5,638	$	5,635	$	5,637
2019	—		5,947		6,144		6,138		6,135
2020	—		—		5,129		5,415		5,388
2021	—		—		—		6,860		7,365
2022	—		—		—		—		8,325
							Total		$	32,850
All outstanding liabilities before 2018, net of recoverables									11
Liabilities for claims and claim adjustment expenses, net of recoverables									$	1,040

(1)Results include certain National General commercial lines insurance products.

Homeowners insurance


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables												IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										Prior year reserve reestimates		As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	5,145	$	5,251	$	4,947	$	4,818	$	4,852	$	34	$	42	898,857
2019	—		4,853		4,912		4,920		4,931		11		85		869,860
2020	—		—		5,781		5,827		5,921		94		137		989,034
2021	—		—		—		6,404		6,532		128		385		992,897
2022	—		—		—		—		6,704				2,724		705,357
							Total		$	28,940	$	267
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years											(72)
Prior year reserve reestimates for ULAE											2
Other											(3)
Total prior year reserve reestimates											$	194

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	3,768	$	4,873	$	4,749	$	4,736	$	4,810
2019	—		3,527		4,576		4,768		4,846
2020	—		—		4,257		5,548		5,784
2021	—		—		—		4,538		6,147
2022	—		—		—		—		3,980
							Total		$	25,567
All outstanding liabilities before 2018, net of recoverables									86
Liabilities for claims and claim adjustment expenses, net of recoverables									$	3,459

(1)Results include National General packaged policies, which include auto, and commercial lines insurance products.

The information about incurred and paid claims development for the 2018 to 2022 years, as of December 31, 2022, is presented as required supplementary information.

Group and individual accident and health


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables										IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018		2019		2020		2021		2022
2018	$	235	$	205	$	203	$	203	$	203	$	—	292,491
2019	—		257		239		242		242		—		311,662
2020	—		—		297		293		294		4		414,634
2021	—		—		—		424		420		12		671,483
2022	—		—		—		—		437		162		427,124
							Total		$	1,596

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018		2019		2020		2021		2022
2018	$	126	$	201	$	203	$	203	$	203
2019	—		158		234		242		242
2020	—		—		184		284		290
2021	—		—		—		272		408
2022	—		—		—		—		275
							Total		$	1,418
All outstanding liabilities before 2018, net of recoverables									—
Liabilities for claims and claim adjustment expenses, net of recoverables									$	178

Average annual percentage payout of incurred claims by age, net of reinsurance


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Auto insurance – liability coverage	37.6	%	28.7	%	13.3	%	8.5	%	5.3	%


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Auto insurance – physical damage coverage	95.2	%	4.4	%	(0.3)	%	(1.5)	%	1.6	%


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Homeowners insurance	72.0	%	21.3	%	2.9	%	0.8	%	0.8	%


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Group and individual accident and health	63.0	%	34.3	%	2.1	%	0.6	%	—	%

Reconciliation of the net incurred claims and claims expense development


Reconciliation of the net incurred and paid claims development tables above to the reserve for property and casualty insurance claims and claims expense
($ in millions)	As of December 31, 2022
Net outstanding liabilities
Allstate Protection
Auto insurance - liability coverage	$	17,382
Auto insurance - physical damage coverage	1,040
Homeowners insurance	3,459
Other personal lines	1,558
Commercial lines	1,857
Protection Services	36
Run-off Property-Liability (1)	1,370
ULAE	1,649
Other (2)	14
Net reserve for property and casualty insurance claims and claims expense	28,365

Recoverables
Allstate Protection
Auto insurance - liability coverage	7,214
Auto insurance - physical damage coverage	44
Homeowners insurance	666
Other personal lines	320
Commercial lines	292
Protection Services	11
Run-off Property-Liability	503
ULAE	126
Total recoverables	9,176
Gross reserve for property and casualty insurance claims and claims expense	$	37,541

(2)Primarily related to the unamortized fair value adjustment related to the acquisition of National General.


Reconciliation of the net incurred and paid claims development tables above to the reserve for future policy benefits
($ in millions)	As of December 31, 2022
Net outstanding liabilities
Group and individual accident and health short-duration contracts	$	178
Other accident and health short-duration contracts	31
Long duration accident and health insurance	592
Long duration traditional life insurance and other	324
ULAE	9
Net reserve for future policy benefits	1,134
Recoverables
Group and individual accident and health short-duration contracts	35
Other accident and health short-duration contracts	—
Insurance lines other than short-duration	104
ULAE	—
Gross reserve for future policy benefits	$	1,273

Reserve for Future Policy Benefits and Contractholder Funds (Tables)

12 Months Ended

Dec. 31, 2022

Reserve for Future Policy Benefits and Contractholder Funds

Reserve for future policy benefits


Reserve for future policy benefits
	As of December 31,
($ in millions)	2022		2021
Traditional life insurance and other	$	318	$	313
Accident and health insurance	955		960
Reserve for future policy benefits	$	1,273	$	1,273

Key assumptions generally used in calculating the reserve for life-contingent contract benefits

Key assumptions generally used in calculating the reserve for future policy benefits

Product

Mortality

Interest rate

Estimation method

Traditional life insurance

Actual company experience plus loading

Interest rate assumptions range from 1.8% to 7.0%

Net level premium reserve method using the Company’s withdrawal experience rates; includes reserves for unpaid claims

Accident and health insurance

Actual company experience plus loading

Interest rate assumptions range from 2.0% to 7.0%

Unearned premium; additional contract reserves for mortality risk and unpaid claims

Short-duration insurance contracts, claims development

Auto insurance – liability coverage


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables												IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										Prior year reserve reestimates		As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	9,788	$	9,758	$	9,798	$	9,835	$	9,928	$	93	$	603	2,500,972
2019	—		10,526		10,471		10,716		10,905		189		1,242		2,637,152
2020	—		—		8,748		8,744		8,984		240		1,813		1,904,004
2021	—		—		—		10,365		10,823		458		3,488		2,291,873
2022	—		—		—		—		13,396				8,904		2,311,893
							Total		$	54,036	$	980
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years											152
Prior year reserve reestimates for ULAE											18
Other											4
Total prior year reserve reestimates											$	1,154

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	3,663	$	6,404	$	7,785	$	8,703	$	9,325
2019	—		3,974		7,080		8,651		9,663
2020	—		—		3,135		5,858		7,171
2021	—		—		—		3,601		7,335
2022	—		—		—		—		4,492
							Total		$	37,986
All outstanding liabilities before 2018, net of recoverables									1,332
Liabilities for claims and claim adjustment expenses, net of recoverables									$	17,382

(1) Results include certain National General commercial lines insurance products.

Auto insurance – physical damage coverage


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables												IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										Prior year reserve reestimates		As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	5,775	$	5,692	$	5,647	$	5,640	$	5,637	$	(3)	$	—	4,686,877
2019	—		6,255		6,174		6,136		6,134		(2)		(1)		4,861,875
2020	—		—		5,495		5,407		5,381		(26)		(7)		4,013,428
2021	—		—		—		7,285		7,342		57		(23)		4,587,385
2022	—		—		—		—		9,385				1,060		4,711,189
							Total		$	33,879	$	26
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years											—
Prior year reserve reestimates for ULAE											3
Other											2
Total prior year reserve reestimates											$	31

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	5,464	$	5,681	$	5,638	$	5,635	$	5,637
2019	—		5,947		6,144		6,138		6,135
2020	—		—		5,129		5,415		5,388
2021	—		—		—		6,860		7,365
2022	—		—		—		—		8,325
							Total		$	32,850
All outstanding liabilities before 2018, net of recoverables									11
Liabilities for claims and claim adjustment expenses, net of recoverables									$	1,040

(1)Results include certain National General commercial lines insurance products.

Homeowners insurance


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables												IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										Prior year reserve reestimates		As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	5,145	$	5,251	$	4,947	$	4,818	$	4,852	$	34	$	42	898,857
2019	—		4,853		4,912		4,920		4,931		11		85		869,860
2020	—		—		5,781		5,827		5,921		94		137		989,034
2021	—		—		—		6,404		6,532		128		385		992,897
2022	—		—		—		—		6,704				2,724		705,357
							Total		$	28,940	$	267
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years											(72)
Prior year reserve reestimates for ULAE											2
Other											(3)
Total prior year reserve reestimates											$	194

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018 (1)		2019 (1)		2020 (1)		2021		2022
2018	$	3,768	$	4,873	$	4,749	$	4,736	$	4,810
2019	—		3,527		4,576		4,768		4,846
2020	—		—		4,257		5,548		5,784
2021	—		—		—		4,538		6,147
2022	—		—		—		—		3,980
							Total		$	25,567
All outstanding liabilities before 2018, net of recoverables									86
Liabilities for claims and claim adjustment expenses, net of recoverables									$	3,459

(1)Results include National General packaged policies, which include auto, and commercial lines insurance products.

The information about incurred and paid claims development for the 2018 to 2022 years, as of December 31, 2022, is presented as required supplementary information.

Group and individual accident and health


($ in millions, except number of reported claims)	Incurred claims and allocated claim adjustment expenses, net of recoverables										IBNR reserves plus expected development on reported claims		Cumulative number of reported claims
	For the years ended December 31,										As of December 31, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018		2019		2020		2021		2022
2018	$	235	$	205	$	203	$	203	$	203	$	—	292,491
2019	—		257		239		242		242		—		311,662
2020	—		—		297		293		294		4		414,634
2021	—		—		—		424		420		12		671,483
2022	—		—		—		—		437		162		427,124
							Total		$	1,596

	Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
	For the years ended December 31,
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Accident year	2018		2019		2020		2021		2022
2018	$	126	$	201	$	203	$	203	$	203
2019	—		158		234		242		242
2020	—		—		184		284		290
2021	—		—		—		272		408
2022	—		—		—		—		275
							Total		$	1,418
All outstanding liabilities before 2018, net of recoverables									—
Liabilities for claims and claim adjustment expenses, net of recoverables									$	178

Reconciliation of the net incurred claims and claims expense development


Reconciliation of the net incurred and paid claims development tables above to the reserve for property and casualty insurance claims and claims expense
($ in millions)	As of December 31, 2022
Net outstanding liabilities
Allstate Protection
Auto insurance - liability coverage	$	17,382
Auto insurance - physical damage coverage	1,040
Homeowners insurance	3,459
Other personal lines	1,558
Commercial lines	1,857
Protection Services	36
Run-off Property-Liability (1)	1,370
ULAE	1,649
Other (2)	14
Net reserve for property and casualty insurance claims and claims expense	28,365

Recoverables
Allstate Protection
Auto insurance - liability coverage	7,214
Auto insurance - physical damage coverage	44
Homeowners insurance	666
Other personal lines	320
Commercial lines	292
Protection Services	11
Run-off Property-Liability	503
ULAE	126
Total recoverables	9,176
Gross reserve for property and casualty insurance claims and claims expense	$	37,541

(2)Primarily related to the unamortized fair value adjustment related to the acquisition of National General.


Reconciliation of the net incurred and paid claims development tables above to the reserve for future policy benefits
($ in millions)	As of December 31, 2022
Net outstanding liabilities
Group and individual accident and health short-duration contracts	$	178
Other accident and health short-duration contracts	31
Long duration accident and health insurance	592
Long duration traditional life insurance and other	324
ULAE	9
Net reserve for future policy benefits	1,134
Recoverables
Group and individual accident and health short-duration contracts	35
Other accident and health short-duration contracts	—
Insurance lines other than short-duration	104
ULAE	—
Gross reserve for future policy benefits	$	1,273

Average annual percentage payout of incurred claims by age, net of reinsurance


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Auto insurance – liability coverage	37.6	%	28.7	%	13.3	%	8.5	%	5.3	%


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Auto insurance – physical damage coverage	95.2	%	4.4	%	(0.3)	%	(1.5)	%	1.6	%


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Homeowners insurance	72.0	%	21.3	%	2.9	%	0.8	%	0.8	%


Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
	1 year		2 years		3 years		4 years		5 years
Group and individual accident and health	63.0	%	34.3	%	2.1	%	0.6	%	—	%

Contractholder funds activity


Contractholder funds activity
	For the years ended December 31,
($ in millions)	2022		2021		2020
Balance, beginning of year	$	908	$	857	$	915
Deposits	133		118		121
Interest credited	32		34		33
Benefits	(21)		(41)		(34)
Surrenders and partial withdrawals	(28)		(23)		(61)
Contract charges	(121)		(107)		(123)
Other adjustments	(6)		70		6
Balance, end of year	$	897	$	908	$	857

Reinsurance and Indemnification (Tables)

12 Months Ended

Dec. 31, 2022

Reinsurance Disclosures [Abstract]

Effects of reinsurance on property-liability insurance premiums written and earned and accident and health insurance premiums and contract charges


Effects of reinsurance and indemnification on property and casualty premiums written and earned and accident and health insurance premiums and contract charges
	For the years ended December 31,
($ in millions)	2022		2021		2020
Property and casualty insurance premiums written
Direct	$	50,065	$	45,523	$	38,695
Assumed	245		213		105
Ceded	(1,824)		(1,736)		(1,142)
Property and casualty insurance premiums written, net of recoverables	$	48,486	$	44,000	$	37,658

Property and casualty insurance premiums earned
Direct	$	47,552	$	43,944	$	38,115
Assumed	221		178		99
Ceded	(1,869)		(1,904)		(1,141)
Property and casualty insurance premiums earned, net of recoverables	$	45,904	$	42,218	$	37,073

Accident and health insurance premiums and contract charges
Direct	$	1,840	$	1,878	$	1,093
Assumed	31		21		14
Ceded	(38)		(78)		(13)
Accident and health insurance premiums and contract charges, net of recoverables	$	1,833	$	1,821	$	1,094

Summary of reinsurance recoverables on paid and unpaid benefits


Reinsurance and indemnification recoverables, net
	As of December 31,
($ in millions)	2022		2021
Property and casualty
Paid and due from reinsurers and indemnitors	$	291	$	391
Unpaid losses estimated (including IBNR)	9,176		9,479
Total property and casualty	$	9,467	$	9,870
Accident and health insurance	139		154
Total	$	9,606	$	10,024

Rollforward of credit loss allowance for reinsurance recoverables


Rollforward of credit loss allowance for reinsurance recoverables
	For the years ended December 31,
($ in millions)	2022		2021
Property and casualty (1) (2)
Beginning balance	$	(66)	$	(59)
Increase in the provision for credit losses	(5)		(8)
Write-offs	9		1
Ending balance	$	(62)	$	(66)

Accident and health insurance
Beginning balance	$	(8)	$	(1)

Decrease/(Increase) in the provision for credit losses	5		(7)
Write-offs	—		—
Ending Balance	$	(3)	$	(8)

(1)Primarily related to Run-off Property-Liability reinsurance ceded.

(2)Indemnification recoverables are considered collectible based on the industry pool and facility enabling legislation.

Deferred Policy Acquisition Costs (Tables)

12 Months Ended

Dec. 31, 2022

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred policy acquisition costs activity


Deferred policy acquisition costs activity
	For the years ended December 31,
($ in millions)	2022		2021		2020
Balance, beginning of year	$	4,722	$	3,774	$	3,600
National General acquisition	—		317		—
SafeAuto acquisition	—		7		—
Acquisition costs deferred	7,337		6,874		5,651
Amortization charged to income	(6,644)		(6,252)		(5,477)
Effect of unrealized gains and losses	3		2		—
Balance, end of year	$	5,418	$	4,722	$	3,774

Capital Structure (Tables)

12 Months Ended

Dec. 31, 2022

Capital Structure

Total debt outstanding


Total debt outstanding
	As of December 31,
($ in millions)	2022		2021
Floating Rate Senior Notes, due 2023 (1)	$	250	$	250
3.150% Senior Notes, due 2023 (2)	500		500
6.750% Senior Notes due 2024 (2) (3)	350		350
0.750% Senior Notes, due 2025 (2)	600		600
3.280% Senior Notes, due 2026 (2)	550		550
Due in one year through five years	2,250		2,250
1.450% Senior Notes, due 2030 (2)	600		600
6.125% Senior Notes, due 2032 (2)	159		159
Due after five years through ten years	759		759
5.350% Senior Notes due 2033 (2)	323		323
5.550% Senior Notes due 2035 (2)	546		546
5.950% Senior Notes, due 2036 (2)	386		386
6.900% Senior Debentures, due 2038	165		165
5.200% Senior Notes, due 2042 (2)	62		62
4.500% Senior Notes, due 2043 (2)	500		500
4.200% Senior Notes, due 2046 (2)	700		700
3.850% Senior Notes, due 2049 (2)	500		500
5.100% Subordinated Debentures, due 2053	500		500
5.750% Subordinated Debentures, due 2053	800		800
6.500% Junior Subordinated Debentures, due 2067	500		500
Due after ten years	4,982		4,982

Long-term debt total principal	7,991		7,991
Fair value adjustments (3)	26		45
Debt issuance costs	(53)		(60)
Total long-term debt	7,964		7,976
Short-term debt (4)	—		—
Total debt	$	7,964	$	7,976

(3)Debt acquired as part of the National General acquisition completed on January 4, 2021.

(4)The Company classifies any borrowings which have a maturity of twelve months or less at inception as short-term debt.

Schedule of debt maturities for each of the next five years and thereafter


Debt maturities for each of the next five years and thereafter (excluding issuance costs and other)
($ in millions)
2023	$	750
2024	350
2025	600
2026	550
2027	—
Thereafter	5,741
Total long-term debt principal	$	7,991

Schedule of noncumulative outstanding preferred stock


Total preferred stock outstanding
	As of December 31,		Aggregate liquidation preference ($ in millions)						Dividend per depository share (1)						Aggregate dividend payment ($ in millions)
	2022	2021	2022		2021		Dividend rate		2022		2021		2020		2022		2021		2020
Series A	—	—	$	—	$	—	5.625	%	$	—	$	—	$	—	$	—	$	—	$	4	(2)




Series G	23,000	23,000	575.0		575.0		5.625	%	1.41		1.41		1.41		32		32		32
Series H	46,000	46,000	1,150.0		1,150.0		5.100	%	1.28		1.28		1.28		59		59		59
Series I	12,000	12,000	300.0		300.0		4.750	%	1.19		1.19		1.19		14		14		13
National General Series (3)															—		9		—
Total	81,000	81,000	$	2,025	$	2,025									$	105	$	114	$	108

(1)Each depository share represents a 1/1,000th interest in a share of preferred stock.

Company Restructuring (Tables)

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Schedule of restructuring programs


Future work environment
($ in millions)
Expected program charges	$	110
2021 expenses	(131)
2022 expenses	(8)
Changes in estimated program costs	41
Remaining program charges	$	12

Schedule of changes in the restructuring liability


Restructuring activity during the period
($ in millions)	Employee costs		Exit costs		Total liability
Restructuring liability as of December 31, 2021	$	14	$	7	$	21
Expense incurred	31		29		60
Adjustments to liability	(9)		—		(9)
Payments and non-cash charges	(9)		(29)		(38)
Restructuring liability as of December 31, 2022	$	27	$	7	$	34

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Reconciliation of the change in the amount of unrecognized tax benefits


Reconciliation of the change in the amount of unrecognized tax benefits
	For the years ended December 31,
($ in millions)	2022		2021		2020
Balance – beginning of year	$	17	$	12	$	70
Acquisitions	—		5		—




Decrease for settlements	—		—		(58)

Balance – end of year	$	17	$	17	$	12

Components of the deferred income tax assets and liabilities


Components of the deferred income tax assets and liabilities
	As of December 31,
($ in millions)	2022		2021
Deferred tax assets
Unearned premium reserves	$	815	$	742
Unrealized net capital losses	608		—
Discount on loss reserves	228		169
Research & development capitalization	219		—
Accrued compensation	128		151

Net operating loss carryover	97		88
Other postretirement benefits	15		31
Pension	10		—

Other assets	95		90
Total deferred tax assets before valuation allowance	2,215		1,271
Valuation allowance	(34)		(24)
Total deferred tax assets after valuation allowance	2,181		1,247
Deferred tax liabilities
DAC	(1,013)		(924)
Investments	(431)		(666)
Intangible assets	(147)		(219)

Unrealized net capital gains	—		(163)
Pension	—		(9)
Other liabilities	(204)		(99)
Total deferred tax liabilities	(1,795)		(2,080)
Net deferred tax assets (liabilities)	$	386	$	(833)

Components of the net operating loss carryforwards


Components of the net operating loss carryforwards as of December 31, 2022
($ in millions)	20-Year Carryforward Expires in 2025-2037		Indefinite Carryforward Period		Total
US Federal	$	221	$	9	$	230
Foreign	—		219		219
Total	$	221	$	228	$	449

Components of income tax expense


Components of income tax expense
	For the years ended December 31,
($ in millions)	2022		2021		2020
Current	$	(36)	$	841	$	1,480
Deferred	(458)		448		(107)
Total income tax (benefit) expense	$	(494)	$	1,289	$	1,373

Reconciliation of the statutory federal income tax rate to the effective income tax rate on income from operations


Reconciliation of the statutory federal income tax rate to the effective income tax rate
	For the years ended December 31,
($ in millions)	2022				2021				2020
(Loss) income before income taxes	$	(1,858)			$	6,448			$	6,802

Statutory federal income tax rate on income from operations	(390)		21.0	%	1,354		21.0	%	1,428		21.0	%
State income taxes	—		—		13		0.2		31		0.4
Tax credits	(55)		3.0		(42)		(0.6)		(24)		(0.4)
Tax-exempt income	(17)		0.9		(18)		(0.3)		(23)		(0.3)
Share-based payments	(22)		1.2		(18)		(0.3)		(30)		(0.4)



Other	(10)		0.5		—		—		(9)		(0.1)
Effective income tax rate on income from operations	$	(494)	26.6	%	$	1,289	20.0	%	$	1,373	20.2	%

Statutory Financial Information and Dividend Limitations (Tables)

12 Months Ended

Dec. 31, 2022

Statutory Financial Information and Dividend Limitations [Abstract]

Statutory net income and capital and surplus


Statutory net income (loss) and capital and surplus of Allstate’s domestic insurance subsidiaries
	Net income (loss)						Capital and surplus
($ in millions)	2022		2021		2020		2022		2021
Amounts by major business type:
Property and casualty insurance	$	(1,653)	$	5,975	$	6,232	$	14,997	$	21,186
Life, accident and health insurance	70		96		95		279		322
Life and annuity business sold	—		1,642		(81)		—		—
Amount per statutory accounting practices	$	(1,583)	$	7,713	$	6,246	$	15,276	$	21,508

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Components of the plans' funded status reflected in the Consolidated Statements of Financial Position


Change in projected benefit obligation, plan assets and funded status
	As of December 31,
	Pension benefits				Postretirement benefits
($ in millions)	2022		2021		2022		2021
Change in projected benefit obligation
Benefit obligation, beginning of year	$	6,500	$	7,763	$	284	$	318
Service cost	101		103		1		1
Interest cost	219		191		10		8
Participant contributions	—		—		16		16
Remeasurement of projected benefit obligation (gains) losses	(1,382)		(309)		(62)		(16)
Benefits paid	(894)		(1,242)		(42)		(43)

Translation adjustment and other	(33)		(6)		(4)		—

Benefit obligation, end of year	$	4,511	$	6,500	$	203	$	284

Change in plan assets
Fair value of plan assets, beginning of year	$	6,525	$	6,987
Actual return on plan assets	(1,189)		764
Employer contribution	24		22
Benefits paid	(894)		(1,242)
Translation adjustment and other	(36)		(6)
Fair value of plan assets, end of year	$	4,430	$	6,525

Funded status (1)	$	(81)	$	25	$	(203)	$	(284)

Amounts recognized in AOCI
Unamortized pension and other postretirement prior service credit	$	—	$	(28)	$	(39)	$	(65)

(1)The funded status is recorded within other assets or other liabilities and accrued expenses on the Consolidated Statements of Financial Position.

Change during the period in items not yet recognized as a component of net periodic cost


Changes in items not yet recognized as a component of net cost for pension and other postretirement plans
($ in millions)	Pension benefits		Postretirement benefits
Items not yet recognized as a component of net cost – December 31, 2021	$	(28)	$	(65)




Prior service credit amortized to net cost	28		25
Translation adjustment and other	—		1
Items not yet recognized as a component of net cost – December 31, 2022	$	—	$	(39)

Components of net periodic cost


Components of net cost (benefit) for pension and other postretirement plans
	For the years ended December 31,
	Pension benefits						Postretirement benefits						Total pension and postretirement benefits
($ in millions)	2022		2021		2020		2022		2021		2020		2022		2021		2020
Service cost	$	101	$	103	$	104	$	1	$	1	$	4	$	102	$	104	$	108
Interest cost	219		191		210		10		8		11		229		199		221
Expected return on plan assets	(371)		(445)		(414)		—		—		—		(371)		(445)		(414)
Amortization of prior service credit	(27)		(50)		(54)		(25)		(25)		(10)		(52)		(75)		(64)
Curtailment losses (gains)	—		—		10		—		—		(8)		—		—		2
Costs and expenses	(78)		(201)		(144)		(14)		(16)		(3)		(92)		(217)		(147)
Remeasurement of projected benefit obligation	(1,382)		(309)		813		(62)		(16)		22		(1,444)		(325)		835
Remeasurement of plan assets	1,560		(319)		(886)		—		—		—		1,560		(319)		(886)
Remeasurement (gains) losses	178		(628)		(73)		(62)		(16)		22		116		(644)		(51)
Total net (benefit) cost	$	100	$	(829)	$	(217)	$	(76)	$	(32)	$	19	$	24	$	(861)	$	(198)

Weighted average assumptions used to determine for pension plans and postretirement benefits plans the net benefit cost and benefit obligation


Weighted average assumptions used to determine net pension cost and net postretirement benefit cost
	For the years ended December 31,
	Pension benefits						Postretirement benefits
	2022		2021		2020		2022		2021		2020
Discount rate	4.27	%	2.84	%	3.00	%	4.24	%	2.75	%	2.99	%
Expected long-term rate of return on plan assets	7.06		7.06		7.08		n/a		n/a		n/a
Cash balance interest credit rate	2.74		2.04		1.65		n/a		n/a		n/a


Weighted average assumptions used to determine benefit obligations
	For the years ended December 31,
	Pension benefits				Postretirement benefits
	2022		2021		2022		2021
Discount rate	5.64	%	2.93	%	5.58	%	2.86	%
Cash balance interest credit rate	3.97		1.90		n/a		n/a

Pension plans' weighted average target asset allocation and the actual percentage of plan assets


Weighted average target asset allocation and actual percentage of plan assets by asset category
	As of December 31, 2022
	Target asset allocation (1)	Actual percentage of plan assets
Pension plan’s asset category	2022	2022		2021
Equity securities (2)	22 - 36%	27	%	55	%
Fixed income securities	43 - 54	49		30
Limited partnership interests	1 - 24	21		14
Short-term investments and other	—	3		1
Total without securities lending (3)		100	%	100	%

(1)The target asset allocation considers risk-based exposure while the actual percentage of plan assets utilizes a financial reporting view excluding exposure provided through derivatives.

(3)Securities lending collateral reinvestment of $297 million and $121 million is excluded from the table above in 2022 and 2021, respectively.

Fair values of pension plan assets


Fair values of pension plan assets as of December 31, 2022
($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Balance as of December 31, 2022
Equity securities	$	120		$	25		$	—		$	145
Fixed income securities:
Government bonds (1)	496			896			—			1,392
Corporate bonds (2)	—			757			—			757
Short-term investments	163			279			—			442
Free-standing derivatives:
Assets	—			1			—			1
Liabilities	(1)			(5)			—			(6)
Other assets	1			—			—			1
Total plan assets at fair value	$	779		$	1,953		$	—		2,732
% of total plan assets at fair value	28.5		%	71.5		%	—		%	100.0		%

Investments measured using the net asset value practical expedient										1,975
Securities lending obligation (3)										(296)
Derivatives counterparty and cash collateral netting										2
Other net plan assets (4)										17
Total reported plan assets										$	4,430

(1)Includes U.S. government and agencies and foreign government bonds.

(2)Includes ABS securities.

(4)Other net plan assets represent cash and cash equivalents, interest and dividends receivable and net receivables related to settlements of investment transactions, such as purchases and sales.


Fair values of pension plan assets as of December 31, 2021
($ in millions)	Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)			Balance as of December 31, 2021
Equity securities	$	311		$	44		$	2		$	357
Fixed income securities:
Government bonds	58			1,206			—			1,264
Corporate bonds	—			696			—			696
Short-term investments	135			65			—			200
Free-standing derivatives:
Assets	—			4			—			4
Liabilities	—			(3)			—			(3)
Other assets	2			—			—			2
Total plan assets at fair value	$	506		$	2,012		$	2		2,520
% of total plan assets at fair value	20.1		%	79.8		%	0.1		%	100.0		%

Investments measured using the net asset value practical expedient										4,109
Securities lending obligation										(121)
Derivatives counterparty and cash collateral netting										(3)
Other net plan assets										20
Total reported plan assets										$	6,525

Rollforward of Level 3 plan assets


Rollforward of Level 3 plan assets during December 31, 2022
			Actual return on plan assets:
($ in millions)	Balance as of December 31, 2021		Relating to assets sold during the period		Relating to assets still held at the reporting date		Purchases, sales and settlements, net		Net transfers in (out) of Level 3		Balance as of December 31, 2022
Equity securities	$	2	$	—	$	—	$	—	$	(2)	$	—


Total Level 3 plan assets	$	2	$	—	$	—	$	—	$	(2)	$	—


Rollforward of Level 3 plan assets during December 31, 2021
			Actual return on plan assets:
($ in millions)	Balance as of December 31, 2020		Relating to assets sold during the period		Relating to assets still held at the reporting date		Purchases, sales and settlements, net		Net transfers in (out) of Level 3		Balance as of December 31, 2021
Equity securities	$	—	$	—	$	—	$	2	$	—	$	2
Fixed income securities:
Corporate	$	2	$	—	$	—	$	(2)	$	—	$	—
Total Level 3 plan assets	$	2	$	—	$	—	$	—	$	—	$	2


Rollforward of Level 3 plan assets during December 31, 2020
			Actual return on plan assets:
($ in millions)	Balance as of December 31, 2019		Relating to assets sold during the period		Relating to assets still held at the reporting date		Purchases, sales and settlements, net		Net transfers in (out) of Level 3		Balance as of December 31, 2020

Fixed income securities:
Corporate	$	—	$	—	$	—	$	2	$	—	$	2
Total Level 3 plan assets	$	—	$	—	$	—	$	2	$	—	$	2

Estimated future benefit payments expected to be paid


Estimated future benefit payments expected to be paid in the next 10 years
	As of December 31, 2022
($ in millions)	Pension benefits		Postretirement benefits
2023	$	505	$	25
2024	485		26
2025	470		25
2026	468		23
2027	463		21
2028-2032	1,778		69
Total benefit payments	$	4,169	$	189

Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2022

Equity Incentive Plans [Abstract]

Equity Awards


Equity awards
($ in millions)	2022		2021		2020
Compensation expense	$	93	$	120	$	124
Income tax benefits	16		18		18
Cash received from exercise of options	130		151		111
Tax benefit realized on options exercised and release of stock restrictions	44		37		53

Nonvested Awards


Nonvested awards as of December 31, 2022
($ in millions)	Unrecognized compensation		Weighted average vesting period
Nonqualified stock options	$	16	1.66
Restricted stock units	47		1.9
Performance stock awards	20		1.55
Total	$	83

Assumptions used to determine the fair value of options granted


Option grant assumptions
	2022		2021		2020
Weighted average expected term	5.9 years		7.5 years		6.1 years
Expected volatility	19.8% - 29.9%		16.5% - 28.8%		16.3% - 37.1%
Weighted average volatility	23.2	%	23.0	%	17.6	%
Expected dividends	2.5% - 3.0%		2.0% - 3.0%		1.6% - 2.4%
Weighted average expected dividends	2.8	%	3.1	%	1.8	%
Risk-free rate	0% - 4.8%		0% - 1.7%		0.1% - 1.8%

Summary of option activity


Summary of option activity
	For the year ended December 31, 2022
	Number (in 000s)	Weighted average exercise price		Aggregate intrinsic value (in 000s)		Weighted average remaining contractual term (years)
Outstanding as of January 1, 2022	9,854	$	88.84
Granted	1,343	123.04
Exercised	(1,927)	76.28
Forfeited	(303)	116.09
Expired	(14)	109.26
Outstanding as of December 31, 2022	8,953	95.72		$	357,082	5.5
Outstanding, net of expected forfeitures	8,906	95.60		356,277		5.4
Outstanding, exercisable (“vested”)	6,472	87.73		309,840		4.5

Changes in restricted stock units


Changes in restricted stock units
	For the year ended December 31, 2022
	Number (in 000s)	Weighted average grant date fair value
Nonvested as of January 1, 2022	1,038	$	101.98
Granted	447	123.98
Vested	(465)	103.53
Forfeited	(91)	112.74
Nonvested as of December 31, 2022	929	110.75

Changes in performance stock units


Changes in performance stock awards
	For the year ended December 31, 2022
	Number (in 000s)	Weighted average grant date fair value
Nonvested as of January 1, 2022	974	$	105.92
Granted	270	123.08
Adjustment for performance achievement	336	92.46
Vested	(694)	93.04
Forfeited	(90)	114.02
Nonvested as of December 31, 2022	796	116.36

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Information [Abstract]

Schedule of supplemental cash flow information from collateralized securities received

The accompanying cash flows are included in cash flows from operating activities in the Consolidated Statements of Cash Flows along with the activities resulting from management of the proceeds, as follows:


	For the years ended December 31,
($ in millions)	2022		2021		2020
Net change in proceeds managed
Net change in fixed income securities	$	(521)	$	—	$	—
Net change in short-term investments	(49)		(539)		396
Operating cash flow (used) provided	(570)		(539)		396
Net change in cash	3		9		(12)
Net change in proceeds managed	$	(567)	$	(530)	$	384

Cash flows from operating activities
Net change in liabilities
Liabilities for collateral, beginning of year	$	(1,444)	$	(914)	$	(1,298)
Liabilities for collateral, end of year	(2,011)		(1,444)		(914)
Operating cash flow provided (used)	$	567	$	530	$	(384)

Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2022

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Other comprehensive income (loss) on a pre-tax and after-tax basis


Components of other comprehensive income (loss) on a pre-tax and after-tax basis
	For the years ended December 31,
	2022						2021						2020
($ in millions)	Pre-tax		Tax		After-tax		Pre-tax		Tax		After-tax		Pre-tax		Tax		After-tax
Unrealized net holding gains and losses arising during the period, net of related offsets (1)	$	(4,470)	$	949	$	(3,521)	$	(2,839)	$	601	$	(2,238)	$	2,512	$	(532)	$	1,980
Less: reclassification adjustment of net gains and losses on investments and derivatives	(848)		178		(670)		436		(92)		344		870		(183)		687
Unrealized net capital gains and losses	(3,622)		771		(2,851)		(3,275)		693		(2,582)		1,642		(349)		1,293
Unrealized foreign currency translation adjustments	(190)		40		(150)		(10)		2		(8)		66		(14)		52


Unamortized pension and other postretirement prior service credit (2)	(54)		11		(43)		(75)		16		(59)		12		(3)		9
Other comprehensive (loss) income	$	(3,866)	$	822	$	(3,044)	$	(3,360)	$	711	$	(2,649)	$	1,720	$	(366)	$	1,354

(1)2021 includes $2.4 billion of losses related to held for sale investments in connection with the sale of the life and annuity business.

(2)Represents prior service credits reclassified out of other comprehensive income and amortized into operating costs and expenses.

Quarterly Results (unaudited) (Tables)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Quarterly results


	First Quarter				Second Quarter				Third Quarter				Fourth Quarter
($ in millions, except per share data)	2022		2021		2022		2021		2022		2021		2022		2021
Revenues	$	12,337	$	12,451	$	12,220	$	12,646	$	13,208	$	12,480	$	13,647	$	13,011
Net income (loss) from continuing operations applicable to common shareholders	630		2,385		(1,042)		1,399		(694)		183		(310)		1,111
Income (loss) from discontinued operations, net of tax	—		(3,793)		—		196		—		325		—		(321)
Net income (loss) applicable to common shareholders	$	630	$	(1,408)	$	(1,042)	$	1,595	$	(694)	$	508	$	(310)	$	790
Earnings per common share applicable to common shareholders
Basic
Continuing operations	$	2.27	$	7.88	$	(3.81)	$	4.68	$	(2.58)	$	0.62	$	(1.17)	$	3.90
Discontinued operations	—		(12.53)		—		0.66		—		1.11		—		(1.13)
Total	$	2.27	$	(4.65)	$	(3.81)	$	5.34	$	(2.58)	$	1.73	$	(1.17)	$	2.77

Diluted (1)
Continuing operations	$	2.24	$	7.78	$	(3.81)	$	4.61	$	(2.58)	$	0.62	$	(1.17)	$	3.84
Discontinued operations	—		(12.38)		—		0.65		—		1.09		—		(1.11)
Total	$	2.24	$	(4.60)	$	(3.81)	$	5.26	$	(2.58)	$	1.71	$	(1.17)	$	2.73

General (Details)	12 Months Ended
General (Details)	Dec. 31, 2022 segment
General
Number of reportable segments	5

Summary of Significant Accounting Policies - Securities loaned and Recognition of premium revenues and contract charges, and related benefits and interest credited (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Securities loaned
Cash collateral received as percentage of fair value of domestic securities loaned	102.00%
Cash collateral received as a percent of fair value of foreign securities loaned	105.00%
Deferred Policy Acquisition and Sales Inducement Costs
Decrease in unearned premiums	$ (2,541)	$ (1,618)	$ (598)
Unearned premium, year one	1,640
Unearned premium, year two	1,310
Unearned premium, thereafter	1,790
Present value of future profits	13	24
Amortization expense of present value of future profits	11	323	$ 14
Property and casualty insurance premiums \| Protection Services
Deferred Policy Acquisition and Sales Inducement Costs
Decrease in unearned premiums	$ 1,460	$ 1,280
Minimum \| Personal Lines
Deferred Policy Acquisition and Sales Inducement Costs
Property and casualty insurance contract, terms	6 months
Period for amortization of DAC for property-liability insurance	6 months
Minimum \| Protection Plans and Other Contracts
Deferred Policy Acquisition and Sales Inducement Costs
Period for amortization of DAC for property-liability insurance	1 year
Maximum
Securities loaned
Securities lending transactions length	30 days
Maximum \| Personal Lines
Deferred Policy Acquisition and Sales Inducement Costs
Property and casualty insurance contract, terms	12 months
Period for amortization of DAC for property-liability insurance	12 months
Maximum \| Protection Plans and Other Contracts
Deferred Policy Acquisition and Sales Inducement Costs
Period for amortization of DAC for property-liability insurance	5 years

Summary of Significant Accounting Policies - Unearned premiums (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred Policy Acquisition and Sales Inducement Costs:
Unearned premiums	$ 22,311	$ 19,844
Allstate Protection
Deferred Policy Acquisition and Sales Inducement Costs:
Unearned premiums	17,538	15,762
Protection Services
Deferred Policy Acquisition and Sales Inducement Costs:
Unearned premiums	4,745	4,054
Allstate Protection and Protection Services
Deferred Policy Acquisition and Sales Inducement Costs:
Unearned premiums	$ 22,283	$ 19,816

Summary of Significant Accounting Policies - Allowance for credit loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Premium Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ (107)	$ (153)
Increase in the provision for credit losses	(313)	(293)
Write-off of uncollectible premium installment receivable amounts	288	339
Ending balance	$ (132)	$ (107)

Summary of Significant Accounting Policies - Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Goodwill
Goodwill allocated to segments	$ 3,502	$ 3,502
Allstate Protection
Goodwill
Goodwill allocated to segments	1,563	1,563
Protection Services
Goodwill
Goodwill allocated to segments	1,494	1,494
Allstate Health and Benefits
Goodwill
Goodwill allocated to segments	$ 445	$ 445

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Summary of Significant Accounting Policies - Intangible assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets by type	$ 1,177	$ 1,420
Trade names and licenses
Finite-Lived Intangible Assets [Line Items]
Intangible assets by type	179	206
Distribution and customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets by type	697	909
Technology and other
Finite-Lived Intangible Assets [Line Items]
Intangible assets by type	$ 301	$ 305

Summary of Significant Accounting Policies - Intangible assets narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of purchased intangibles	$ 353	$ 376	$ 118
Accumulated amortization on intangible assets	$ 1,480	$ 1,130
Distribution and customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible asset, useful life	10 years
Technology
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible asset, useful life	5 years
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible asset, useful life	7 years

Summary of Significant Accounting Policies - Finite-lived intangible assets, future amortization expense (Details) $ in Millions	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
2023	$ 313
2024	248
2025	201
2026	91
2027	64
Thereafter	88
Total amortization	$ 1,005

Summary of Significant Accounting Policies - Property and equipment narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property and equipment
Accumulated depreciation on property and equipment	$ 2,450	$ 2,440
Depreciation expense on property and equipment	$ 335	$ 411	$ 353
Equipment \| Minimum
Property and equipment
Property and equipment, estimated useful life	3 years
Equipment \| Maximum
Property and equipment
Property and equipment, estimated useful life	10 years
Real property
Property and equipment
Property and equipment, estimated useful life	40 years

Summary of Significant Accounting Policies - Allowance For Credit Loss (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fixed income securities	$ 13	$ 6	$ 2
Investments	77	73
Premium installment receivables	132	107	153
Reinsurance recoverables	65	74
Other assets	19	26
Assets	293	280
Commitments to fund mortgage loans and bank loans	0	0
Liabilities	0	0
Total	293	280
Fixed income securities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fixed income securities	13	6	2	$ 0
Mortgage loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance credit losses	7	6	$ 67	$ 3
Bank loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance credit losses	$ 57	$ 61

Summary of Significant Accounting Policies - Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Renewal term	20 years
Lease, option to terminate	60 days
Operating lease, liability, extensible enumeration	Other liabilities and accrued expenses	Other liabilities and accrued expenses
Operating lease, right-of-use asset, extensible enumeration	Other assets, net	Other assets, net
Lease liability	$ 343	$ 465
Right of use asset	234	314
Lease, cost	131	162
Variable lease, cost	$ 23	$ 30
Minimum
Lessee, Lease, Description [Line Items]
Lease, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease, term of contract	8 years

Summary of Significant Accounting Policies - Other information related to operating leases (Details)	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Weighted average remaining lease term (years)	4 years	5 years
Weighted average discount rate	3.08%	3.09%

Summary of Significant Accounting Policies - Maturity of lease liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
2023	$ 100
2024	97
2025	71
2026	41
2027	26
Thereafter	32
Total lease payments	367
Less: interest	(24)
Lease liability	$ 343	$ 465

Summary of Significant Accounting Policies - Earnings per common share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net (loss) income from continuing operations									$ (1,364)	$ 5,159	$ 5,429
Less: Net loss attributable to noncontrolling interest									(53)	(33)	0
Net (loss) income from continuing operations attributable to Allstate									(1,311)	5,192	5,429
Less: Preferred stock dividends									105	114	115
Net (loss) income from continuing operations applicable to common shareholders	$ (310)	$ (694)	$ (1,042)	$ 630	$ 1,111	$ 183	$ 1,399	$ 2,385	(1,416)	5,078	5,314
Income (loss) from discontinued operations, net of tax	0	0	0	0	(321)	325	196	(3,793)	0	(3,593)	147
Net (loss) income applicable to common shareholders ,Basic	$ (310)	$ (694)	$ (1,042)	$ 630	$ 790	$ 508	$ 1,595	$ (1,408)	(1,416)	1,485	5,461
Net (loss) income applicable to common shareholders , Dilluted									$ (1,416)	$ 1,485	$ 5,461
Denominator:
Weighted average common shares outstanding (in shares)									271.2	294.8	311.6
Effect of dilutive potential common shares
Stock options (in shares)									0.0	2.7	2.2
Restricted stock units (non-participating) and performance stock awards (in shares)									0.0	1.6	1.7
Weighted average common and dilutive potential common shares outstanding (in shares)									271.2	299.1	315.5
Basic
Continuing operations (in dollars per share)	$ (1.17)	$ (2.58)	$ (3.81)	$ 2.27	$ 3.90	$ 0.62	$ 4.68	$ 7.88	$ (5.22)	$ 17.23	$ 17.06
Discontinued operations (in dollars per share)	0	0	0	0	(1.13)	1.11	0.66	(12.53)	0	(12.19)	0.47
Basic, Total (in dollars per share)	(1.17)	(2.58)	(3.81)	2.27	2.77	1.73	5.34	(4.65)	(5.22)	5.04	17.53
Diluted
Continuing operations (in dollars per share)	(1.17)	(2.58)	(3.81)	2.24	3.84	0.62	4.61	7.78	(5.22)	16.98	16.84
Discontinued operations (in dollars per share)	0	0	0	0	(1.11)	1.09	0.65	(12.38)	0	(12.02)	0.47
Diluted, Total (in dollars per share)	$ (1.17)	$ (2.58)	$ (3.81)	$ 2.24	$ 2.73	$ 1.71	$ 5.26	$ (4.60)	$ (5.22)	$ 4.96	$ 17.31
Other Earnings Per Share Disclosures
Anti-dilutive options excluded from diluted earnings per common share (in shares)									1.7	1.3	2.9
Weighted average dilutive potential common shares excluded due to net loss applicable to common shareholders (in shares)									3.1	0.0	0.0

Summary of Significant Accounting Policies - Impact of adoption to AOCI and net income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Impact of adoption [Line Items]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2022-05 [Member]
Increase (decrease) to equity	$ 17,350	$ 25,127	$ 30,217
Increase in net income	(1,364)	1,566	5,576
Retained income
Impact of adoption [Line Items]
Increase (decrease) to equity	50,954	53,294	52,767	$ 48,074
Increase in net income	(1,311)	1,599	5,576
Retained income \| Cumulative effect of change in accounting principle
Impact of adoption [Line Items]
Increase (decrease) to equity		0	0	(88)
AOCI
Impact of adoption [Line Items]
Increase (decrease) to equity	(2,389)	655	3,304	$ 1,950
Minimum \| Cumulative effect of change in accounting principle
Impact of adoption [Line Items]
Increase (decrease) to equity			(250)
Increase in net income	5	5
Minimum \| Retained income \| Cumulative effect of change in accounting principle
Impact of adoption [Line Items]
Increase (decrease) to equity			(15)
Minimum \| AOCI \| Cumulative effect of change in accounting principle
Impact of adoption [Line Items]
Increase (decrease) to equity	0	(200)	(235)
Maximum \| Cumulative effect of change in accounting principle
Impact of adoption [Line Items]
Increase (decrease) to equity			(350)
Increase in net income	20	20
Maximum \| Retained income \| Cumulative effect of change in accounting principle
Impact of adoption [Line Items]
Increase (decrease) to equity			(35)
Maximum \| AOCI \| Cumulative effect of change in accounting principle
Impact of adoption [Line Items]
Increase (decrease) to equity	$ (50)	$ (250)	$ (315)

- Definition

Indicates amendment to accounting standards.

+ References

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+ Details

Acquisitions and Dispositions - Assets and liabilities recognized in acquisition (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Jan. 04, 2021
Assets
Goodwill	$ 3,502	$ 3,502
National General Holdings Corp.
Assets
Investments			$ 4,962
Cash			400
Premiums and other receivables, net			1,539
Deferred acquisition costs (value of business acquired)			317
Reinsurance recoverables, net			1,212
Intangible assets			1,199
Other assets			734
Goodwill			1,038
Total assets			11,401
Liabilities
Reserve for property and casualty insurance claims and claims expense			2,765
Reserve for future policy benefits			186
Unearned premiums			2,245
Reinsurance payable			363
Debt			593
Deferred tax liabilities			162
Other liabilities			776
Total liabilities			$ 7,090

Acquisitions and Dispositions - Intangible asset by type (Details) - National General Holdings Corp. $ in Millions	Jan. 04, 2021 USD ($)
Business Acquisition [Line Items]
Intangible assets	$ 1,199
Distribution and customer relationships
Business Acquisition [Line Items]
Intangible assets	795
Trade names
Business Acquisition [Line Items]
Intangible assets	102
Licenses
Business Acquisition [Line Items]
Intangible assets	97
Technology
Business Acquisition [Line Items]
Intangible assets	$ 205

Acquisitions and Dispositions - Narrative (Details) $ in Millions						12 Months Ended
	Dec. 17, 2021 USD ($)	Nov. 01, 2021 USD ($)	Oct. 01, 2021 USD ($) state	Mar. 15, 2021 USD ($)	Feb. 03, 2021 USD ($)	Dec. 31, 2022 USD ($) state	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 04, 2021 USD ($)
Business Acquisition [Line Items]
Goodwill						$ 3,502	$ 3,502
Debt						7,964	7,976
Present value of future profits						(13)	(24)
Loss on disposition of operations, net of tax						$ 0	4,031	$ 0
Subordinated Debentures
Business Acquisition [Line Items]
Repayments of debt				$ 72	$ 100
Note stated interest rate (as a percent)					7.625%
Senior Notes
Business Acquisition [Line Items]
Note stated interest rate (as a percent)						6.75%
Debt						$ 350
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Allstate Life Insurance Company Of New York
Business Acquisition [Line Items]
Definitive agreement with Wilton Reassurance			$ 400
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Allstate Life Insurance Company
Business Acquisition [Line Items]
Proceeds from affiliates		$ 4,000
Pre-close dividend received		$ 1,250
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| ALNY And ALIC
Business Acquisition [Line Items]
Loss on disposition of operations, net of tax							4,090
Distribution and customer relationships
Business Acquisition [Line Items]
Finite-Lived intangible asset, useful life						10 years
Allstate Protection
Business Acquisition [Line Items]
Goodwill						$ 1,563	1,563
Number of states in which entity operates \| state						50
Protection Services
Business Acquisition [Line Items]
Goodwill						$ 1,494	$ 1,494
Allstate Health and Benefits
Business Acquisition [Line Items]
Number of states in which entity operates \| state						50
National General Holdings Corp.
Business Acquisition [Line Items]
Goodwill									$ 1,038
Purchase accounting fair value adjustment						$ 26
Fair value purchase accounting adjustments, increase in reserves						62
Fair value purchase accounting adjustments, reduction in investments						9
Fair value purchase accounting adjustments, increase in current and deferred tax liabilities						153
Transaction costs						$ 22
Intangible assets									1,199
National General Holdings Corp. \| Licenses
Business Acquisition [Line Items]
Intangible assets									97
National General Holdings Corp. \| Allstate Protection
Business Acquisition [Line Items]
Goodwill									675
Present value of future profits									(317)
National General Holdings Corp. \| Protection Services
Business Acquisition [Line Items]
Goodwill									20
National General Holdings Corp. \| Allstate Health and Benefits
Business Acquisition [Line Items]
Goodwill									$ 343
SafeAuto
Business Acquisition [Line Items]
Goodwill			$ 79
Number of states in which entity operates \| state			28
Payments to acquire businesses			$ 267
Intangible assets			31
Value of business acquired			7
Redemption of preferred stock	$ 13
SafeAuto \| Distribution and customer relationships
Business Acquisition [Line Items]
Intangible assets			25
SafeAuto \| Licenses
Business Acquisition [Line Items]
Intangible assets			$ 6
Minimum \| National General Holdings Corp.
Business Acquisition [Line Items]
Finite-Lived intangible asset, useful life						6 months
Maximum \| National General Holdings Corp.
Business Acquisition [Line Items]
Finite-Lived intangible asset, useful life						12 months

Acquisitions and Dispositions - Financial results from discontinued operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Costs and expenses
Income tax expense									$ 0	$ (19)	$ 10
(Loss) income from discontinued operations, net of tax	$ 0	$ 0	$ 0	$ 0	$ (321)	$ 325	$ 196	$ (3,793)	$ 0	$ (3,593)	$ 147
Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]										(Loss) income from discontinued operations, net of tax	(Loss) income from discontinued operations, net of tax
Net gains (losses) on investments and derivatives
Revenues
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]									Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]									Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives
Discontinued Operations, Held-for-sale
Revenues
Life premiums and contract charges										$ 1,109	$ 1,350
Net investment income										1,336	1,262
Net gains (losses) on investments and derivatives										195	269
Total revenues										2,640	2,881
Costs and expenses
Life contract benefits										1,315	1,726
Interest credited to contractholder funds										414	605
Amortization of DAC										87	153
Operating costs and expenses										163	238
Restructuring and related charges										31	7
Total costs and expenses										2,010	2,729
Amortization of deferred gain on reinsurance										4	4
Income from discontinued operations before income tax expense										634	156
Income tax expense										136	9
Income from discontinued operations, net of tax										498	147
Loss on disposition of operations										(4,315)	0
Income tax benefit										(224)	0
Loss on disposition of operations, net of tax										$ (4,091)	$ 0

Acquisitions and Dispositions - Major classes of assets and liabilities to be transferred to buyer (Details) - Discontinued Operations, Held-for-sale $ in Millions	Dec. 31, 2021 USD ($)
Assets
Fixed income securities, at fair value	$ 26,425
Equity securities, at fair value	11
Mortgage loans, net	2,662
Limited partnership interests	1,624
Short-term, at fair value	643
Other investments, net	690
Total investments	32,055
Cash	1,081
Deferred policy acquisitions costs	996
Reinsurance recoverables, net	1,979
Accrued investment income	240
Other assets	536
Separate accounts	3,465
Total assets	40,352
Liabilities
Reserve for future policy benefits	11,573
Contractholder funds	15,880
Deferred income taxes	834
Other liabilities and accrued expenses	452
Separate accounts	3,465
Total liabilities	$ 32,204

Acquisitions and Dispositions - Cash flows from discontinued operations (Details) - Discontinued Operations, Held-for-sale - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash provided by operating activities from discontinued operations	$ 634	$ 311
Net cash provided by investing activities from discontinued operations	$ 984	$ 330

Reportable Segments - Narrative (Details) $ in Millions	12 Months Ended
Reportable Segments - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($) segment state	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information
Number of reportable segments \| segment	5
Allstate Protection
Segment Reporting Information
Premium earned as percentage of consolidated revenues	85.40%
Number of states in which entity operates \| state	50
Minimum percentage of premiums to be considered as significant	5.00%
Allstate Protection \| Non-US
Segment Reporting Information
Revenues from external customers generated outside the United States \| $	$ 1,940	$ 1,860	$ 1,570
Protection Services \| Non-US
Segment Reporting Information
Revenues from external customers generated outside the United States \| $	$ 258	$ 232	$ 188
Allstate Health and Benefits
Segment Reporting Information
Number of states in which entity operates \| state	50
Minimum percentage of premiums to be considered as significant	5.00%

Reportable Segments - Reportable segments financial performance (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information
Net investment income									$ 2,403	$ 3,293	$ 1,590
Pension and other postretirement remeasurement gains (losses)									(116)	644	51
Income (loss) from discontinued operations									0	(3,612)	157
Income tax benefit (expense) from discontinued operations									0	19	(10)
(Loss) income from discontinued operations, net of tax	$ 0	$ 0	$ 0	$ 0	$ (321)	$ 325	$ 196	$ (3,793)	0	(3,593)	147
Less: Net loss attributable to noncontrolling interest									(53)	(33)	0
Net (loss) income applicable to common shareholders ,Basic	(310)	$ (694)	$ (1,042)	$ 630	$ 790	$ 508	$ 1,595	$ (1,408)	$ (1,416)	1,485	5,461
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]									Other Income
Segment Reconciling Items
Segment Reporting Information
Adjusted net income (loss) by segment, after-tax									$ 1,474	3,425	1,068
Net gains (losses) on investments and derivatives									(1,072)	1,084	1,087
Pension and other postretirement remeasurement gains (losses)									(116)	644	51
Curtailment gains (losses)									0	0	8
Business combination expenses and amortization of purchased intangibles									(113)	(157)	(106)
Business combination fair value adjustment									0	6	0
Gain (loss) on disposition									89	0	0
Income tax benefit (expense) on reconciling items and other									496	(1,270)	(1,393)
Allstate Protection \| Operating segments
Segment Reporting Information
Underwriting income									(2,782)	1,785	4,569
Run-off Property-Liability \| Operating segments
Segment Reporting Information
Underwriting income									(129)	(120)	(144)
Property-Liability
Segment Reporting Information
Net investment income									2,190	3,118	1,421
Net gains (losses) on investments and derivatives									(877)	1,021	990
Less: Net loss attributable to noncontrolling interest									(52)	(34)	0
Property-Liability \| Operating segments
Segment Reporting Information
Underwriting income									(2,911)	1,665	4,425
Property-Liability \| Segment Reconciling Items
Segment Reporting Information
Net investment income									2,190	3,118	1,421
Protection Services
Segment Reporting Information
Net investment income									48	43	44
Net gains (losses) on investments and derivatives									(52)	25	30
Protection Services \| Operating segments
Segment Reporting Information
Adjusted net income (loss) by segment, after-tax									169	179	153
Allstate Health and Benefits
Segment Reporting Information
Net investment income									69	74	78
Net gains (losses) on investments and derivatives									(44)	7	8
Allstate Health and Benefits \| Operating segments
Segment Reporting Information
Adjusted net income (loss) by segment, after-tax									222	208	96
Corporate and Other
Segment Reporting Information
Gain on sale of other income	$ 83
Corporate and Other \| Operating segments
Segment Reporting Information
Adjusted net income (loss) by segment, after-tax									(422)	(433)	(428)
Net investment income									96	58	47
Net gains (losses) on investments and derivatives									$ (99)	$ 31	$ 59

Reportable Segments - Reportable segments revenue information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information
Insurance premiums									$ 47,737	$ 44,039	$ 38,167
Net investment income									2,403	3,293	1,590
Total revenues	$ 13,647	$ 13,208	$ 12,220	$ 12,337	$ 13,011	$ 12,480	$ 12,646	$ 12,451	51,412	50,588	41,909
Property-Liability
Segment Reporting Information
Insurance premiums									43,909	40,454	35,580
Net investment income									2,190	3,118	1,421
Net gains (losses) on investments and derivatives									(877)	1,021	990
Total revenues									46,638	46,030	38,848
Property-Liability \| Auto
Segment Reporting Information
Insurance premiums									29,715	27,623	24,640
Property-Liability \| Homeowners
Segment Reporting Information
Insurance premiums									10,912	9,927	8,254
Property-Liability \| Other personal lines
Segment Reporting Information
Insurance premiums									2,159	2,077	1,919
Property-Liability \| Commercial lines
Segment Reporting Information
Insurance premiums									1,123	827	767
Allstate Protection
Segment Reporting Information
Insurance premiums									43,909	40,454	35,580
Run-off Property-Liability
Segment Reporting Information
Insurance premiums									0	0	0
Protection Services
Segment Reporting Information
Intersegment premiums and service fees									149	175	147
Net investment income									48	43	44
Net gains (losses) on investments and derivatives									(52)	25	30
Total revenues									2,487	2,361	1,922
Protection Services \| Protection Plans
Segment Reporting Information
Other revenue									1,307	1,132	909
Protection Services \| Roadside assistance
Segment Reporting Information
Other revenue									202	192	188
Protection Services \| Finance and insurance products
Segment Reporting Information
Other revenue									486	440	396
Allstate Health and Benefits
Segment Reporting Information
Net investment income									69	74	78
Net gains (losses) on investments and derivatives									(44)	7	8
Total revenues									2,260	2,261	1,180
Allstate Health and Benefits \| Employer voluntary benefits
Segment Reporting Information
Other revenue									1,036	1,031	1,094
Allstate Health and Benefits \| Group health
Segment Reporting Information
Other revenue									385	350	0
Allstate Health and Benefits \| Individual health
Segment Reporting Information
Other revenue									412	440	0
Operating segments \| Property-Liability
Segment Reporting Information
Other revenue									1,416	1,437	857
Operating segments \| Protection Services
Segment Reporting Information
Other revenue									347	354	208
Operating segments \| Allstate Health and Benefits
Segment Reporting Information
Other revenue									402	359	0
Operating segments \| Corporate and Other
Segment Reporting Information
Other revenue									179	22	0
Net investment income									96	58	47
Net gains (losses) on investments and derivatives									(99)	31	59
Total revenues									176	111	106
Intersegment eliminations
Segment Reporting Information
Total revenues									$ (149)	$ (175)	$ (147)

Reportable Segments - Performance data and tax items (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information
Amortization of DAC	$ 6,644	$ 6,252	$ 5,477
Income tax expense (benefit)	(494)	1,289	1,373
Property-Liability
Segment Reporting Information
Amortization of DAC	5,570	5,313	4,642
Income tax expense (benefit)	(427)	1,151	1,382
Protection Services
Segment Reporting Information
Amortization of DAC	928	795	658
Income tax expense (benefit)	5	39	26
Allstate Health and Benefits
Segment Reporting Information
Amortization of DAC	146	144	177
Income tax expense (benefit)	39	50	28
Corporate and Other
Segment Reporting Information
Income tax expense (benefit)	$ (111)	$ 49	$ (63)

- Definition

Amount of amortization expense (reversal of expense) for deferred policy acquisition costs.

+ References + Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Reportable Segments - Total assets and investments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information
Assets	$ 97,957	$ 99,440
Investments	61,829	64,701
Deferred policy acquisition costs	5,418	4,722	$ 3,774	$ 3,600
Property-Liability
Segment Reporting Information
Assets	82,744	84,846
Investments	54,011	57,258
Deferred policy acquisition costs	2,146	1,951
Protection Services
Segment Reporting Information
Assets	6,922	6,909
Investments	1,917	1,890
Deferred policy acquisition costs	2,768	2,294
Allstate Health and Benefits
Segment Reporting Information
Assets	3,720	4,015
Investments	1,872	2,191
Deferred policy acquisition costs	504	477
Corporate and Other
Segment Reporting Information
Assets	4,571	3,670
Investments	$ 4,029	$ 3,362

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

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-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(18))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Investments - Portfolio composition (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Investments [Abstract]
Fixed income securities, at fair value	$ 42,485	$ 42,136
Equity securities, at fair value	4,567	7,061
Mortgage loans, net	762	821
Limited partnership interests	8,114	8,018
Short-term investments, at fair value	4,173	4,009
Other investments, net	1,728	2,656
Total investments	$ 61,829	$ 64,701

Investments - Amortized cost, gross unrealized gains and losses and fair value for fixed income securities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Schedule of Available for Sale Securities
Amortized cost, net	$ 45,370	$ 41,376
Gross unrealized gains	92	1,002
Gross unrealized losses	(2,977)	(242)
Fixed income securities	42,485	42,136
U.S. government and agencies
Schedule of Available for Sale Securities
Amortized cost, net	8,123	6,287
Gross unrealized gains	6	12
Gross unrealized losses	(231)	(26)
Fixed income securities	7,898	6,273
Municipal
Schedule of Available for Sale Securities
Amortized cost, net	6,500	6,130
Gross unrealized gains	36	279
Gross unrealized losses	(326)	(16)
Fixed income securities	6,210	6,393
Corporate
Schedule of Available for Sale Securities
Amortized cost, net	28,562	26,834
Gross unrealized gains	46	688
Gross unrealized losses	(2,345)	(192)
Fixed income securities	26,263	27,330
Foreign government
Schedule of Available for Sale Securities
Amortized cost, net	997	982
Gross unrealized gains	0	9
Gross unrealized losses	(40)	(6)
Fixed income securities	957	985
ABS
Schedule of Available for Sale Securities
Amortized cost, net	1,188	1,143
Gross unrealized gains	4	14
Gross unrealized losses	(35)	(2)
Fixed income securities	$ 1,157	$ 1,155

Investments - Scheduled maturities for fixed Income securities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Amortized cost, net
Due in one year or less	$ 2,870	$ 1,105
Due after one year through five years	26,546	21,039
Due after five years through ten years	11,035	13,808
Due after ten years	3,731	4,281
Subtotal	44,182	40,233
ABS	1,188	1,143
Amortized cost, net	45,370	41,376
Fair value
Due in one year or less	2,836	1,111
Due after one year through five years	25,217	21,291
Due after five years through ten years	9,870	14,079
Due after ten years	3,405	4,500
Subtotal	41,328	40,981
ABS	1,157	1,155
Fair value	$ 42,485	$ 42,136

Investments - Net investment income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net Investment Income [Line Items]
Investment income, before expense	$ 2,649	$ 3,464	$ 1,723
Investment expense	(246)	(171)	(133)
Net investment income	2,403	3,293	1,590
Fixed income securities
Net Investment Income [Line Items]
Investment income, before expense	1,255	1,148	1,232
Equity securities
Net Investment Income [Line Items]
Investment income, before expense	132	100	78
Mortgage loans
Net Investment Income [Line Items]
Investment income, before expense	33	43	34
Limited partnership interests
Net Investment Income [Line Items]
Investment income, before expense	985	1,973	238
Short-term investments
Net Investment Income [Line Items]
Investment income, before expense	82	5	17
Other investments
Net Investment Income [Line Items]
Investment income, before expense	$ 162	$ 195	$ 124

Investments - Realized capital gains and losses by asset type (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Realized capital gains and losses by asset type
Net gains (losses) on investments and derivatives	$ (1,072)	$ 1,084	$ 1,087
Net gains (losses) on investments and derivatives
Realized capital gains and losses by asset type
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives
Fixed income securities
Realized capital gains and losses by asset type
Net gains (losses) on investments and derivatives	$ (875)	$ 425	$ 925
Equity securities
Realized capital gains and losses by asset type
Net gains (losses) on investments and derivatives	(900)	520	117
Mortgage loans
Realized capital gains and losses by asset type
Net gains (losses) on investments and derivatives	(1)	20	(1)
Limited partnership interests
Realized capital gains and losses by asset type
Net gains (losses) on investments and derivatives	(191)	(52)	(14)
Derivatives
Realized capital gains and losses by asset type
Net gains (losses) on investments and derivatives	874	49	49
Other investments
Realized capital gains and losses by asset type
Net gains (losses) on investments and derivatives	$ 21	$ 122	$ 11

Investments -Realized capital gains and losses by transaction type (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments [Abstract]
Sales	$ (832)	$ 578	$ 974
Credit losses	(54)	(42)	(32)
Valuation change of equity investments	(1,060)	499	96
Valuation change and settlements of derivatives	874	49	49
Net gains (losses) on investments and derivatives	$ (1,072)	$ 1,084	$ 1,087

Investments - Gross realized gains (losses) on sales of fixed income securities (Details) - Fixed income securities - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Available for Sale Securities
Gross realized gains	$ 136	$ 587	$ 1,105
Gross realized losses	$ (1,004)	$ (158)	$ (177)

Investments - Net appreciation (decline) recognized in net income for assets that are still held (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt and Equity Securities, FV-NI [Line Items]
Total	$ (471)	$ 812	$ 397
Equity securities
Debt and Equity Securities, FV-NI [Line Items]
Total	(466)	377	247
Limited partnership interests carried at fair value
Debt and Equity Securities, FV-NI [Line Items]
Total	$ (5)	$ 435	$ 150

Investments - OTTI losses by asset type (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other-than-temporary impairment losses by asset type
Fixed income securities	$ (54)	$ (42)	$ (32)
Total credit losses by asset type	(54)	(42)	(33)
Commitments to fund commercial mortgage loans and bank loans	0	0	1
Fixed income securities
Other-than-temporary impairment losses by asset type
Fixed income securities	(7)	(4)	(3)
Corporate
Other-than-temporary impairment losses by asset type
Fixed income securities	(6)	(5)	(1)
ABS
Other-than-temporary impairment losses by asset type
Fixed income securities	(1)	1	(2)
Mortgage loans
Other-than-temporary impairment losses by asset type
Total credit losses by asset type	(1)	18	(1)
Limited partnership interests
Other-than-temporary impairment losses by asset type
Total credit losses by asset type	(4)	(34)	(6)
Bank loans, net
Other-than-temporary impairment losses by asset type
Total credit losses by asset type	(26)	(22)	(23)
Real estate
Other-than-temporary impairment losses by asset type
Total credit losses by asset type	$ (16)	$ 0	$ 0

Investments - Unrealized net capital gains and losses included in AOCI (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair value
Fixed income securities	$ 42,485	$ 42,136
Short-term investments	4,173	4,009
Derivative instruments	0	0
Gross unrealized Gains
Fixed income securities	92	1,002
Short-term investments	0	0
Derivative instruments	0	0
Gross unrealized Losses
Fixed income securities	(2,977)	(242)
Short-term investments	(1)	0
Derivative instruments	(3)	(3)
Unrealized net gains (losses)
Fixed income securities	(2,885)	760
Short-term investments	(1)	0
Derivative instruments	(3)	(3)
Limited partnership interests	2	(1)
Unrealized net capital gains and losses, pre-tax	(2,887)	756
Other unrealized net capital gains and losses, pre-tax	26	5
Deferred income taxes	608	(163)
Unrealized net capital gains and losses, after-tax	$ (2,253)	$ 598

Investments - Change in unrealized net capital gains and losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)
Change in unrealized net capital gains and losses	$ (3,643)	$ (4,140)	$ 2,152
Other unrealized net capital gains and losses, pre-tax	21	865	(510)
Deferred income taxes	771	693	(349)
(Decrease) increase in unrealized net capital gains and losses, after-tax	(2,851)	(2,582)	1,293
Limited partnerships interests
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)
Change in unrealized net capital gains and losses	3	0	0
Investments classified as held for sale
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)
Change in unrealized net capital gains and losses	0	(2,369)	0
Fixed income securities
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)
Change in unrealized net capital gains and losses	(3,645)	(1,771)	2,152
Short-term investments
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)
Change in unrealized net capital gains and losses	(1)	0	0
Derivative instruments
Change in Unrealized Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss)
Change in unrealized net capital gains and losses	$ 0	$ 0	$ 0

Investments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Investments - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investment [Line Items]
Mortgage loans, net	$ 762	$ 821
Fixed income securities	42,485	42,136
Short-term investments	$ 4,173	4,009
Percentage of credit concentration risk of single issuer and affiliates of shareholder's equity	10.00%
Fixed income and equity securities carrying value	$ 1,930	1,380
Interest income on collateral, net of fees	6	1	$ 2
Debt Securities below Investment Grade	4,100	7,500
Fixed income and short-term investments carrying value	198
Non-income producing fixed income securities	66
Accrued investment income	423	339
Municipal
Investment [Line Items]
Fixed income securities	6,210	6,393
Municipal bonds, tax exempt value	4,640
Fixed income securities
Investment [Line Items]
Accrued investment income	$ 389	$ 311

Investments - Principal geographic distribution of commercial real estate exceeding 5% of the mortgage loans portfolio (Details) $ in Millions	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($)
Schedule of Available for Sale Securities
Number of loans \| loan	51
Amortized cost, net \| $	$ 762	$ 821
Mortgage loans on real estate, carrying value (percentage)	100.00%	100.00%
2023 \| Mortgage loans
Schedule of Available for Sale Securities
Number of loans \| loan	6
Amortized cost, net \| $	$ 61
Mortgage loans on real estate, carrying value (percentage)	8.00%
2024 \| Mortgage loans
Schedule of Available for Sale Securities
Number of loans \| loan	5
Amortized cost, net \| $	$ 89
Mortgage loans on real estate, carrying value (percentage)	11.70%
2025 \| Mortgage loans
Schedule of Available for Sale Securities
Number of loans \| loan	7
Amortized cost, net \| $	$ 85
Mortgage loans on real estate, carrying value (percentage)	11.20%
2026 \| Mortgage loans
Schedule of Available for Sale Securities
Number of loans \| loan	5
Amortized cost, net \| $	$ 100
Mortgage loans on real estate, carrying value (percentage)	13.10%
Thereafter \| Mortgage loans
Schedule of Available for Sale Securities
Number of loans \| loan	28
Amortized cost, net \| $	$ 427
Mortgage loans on real estate, carrying value (percentage)	56.00%
Apartment complex
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	30.20%	35.30%
Retail
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	27.40%	23.80%
Office
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	17.50%	18.50%
Warehouse
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	16.00%	11.00%
Other
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	8.90%	11.40%
California
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	24.90%	19.60%
Texas
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	16.30%	20.40%
Washington
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	7.30%	4.30%
Florida
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	6.40%	6.00%
Tennessee
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	6.10%	5.70%
Ohio
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	5.60%	5.30%
Massachusetts
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	2.60%	5.70%
Illinois
Schedule of Available for Sale Securities
Mortgage loans on real estate, carrying value (percentage)	2.40%	6.70%

Investments - Carrying value for limited partnership interests (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	$ 8,114	$ 8,018
EMA
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	6,868	6,487
Fair Value
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	1,246	1,531
Private equity
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	6,589	6,339
Private equity \| EMA
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	5,372	4,905
Private equity \| Fair Value
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	1,217	1,434
Real estate
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	1,042	920
Real estate \| EMA
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	1,013	823
Real estate \| Fair Value
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	29	97
Other
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	483	759
Other \| EMA
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	483	759
Other \| Fair Value
Debt and Equity Securities, FV-NI [Line Items]
Limited partnership interests	$ 0	$ 0

Investments - Principal geographic distribution of municipal bonds (Details)	Dec. 31, 2022	Dec. 31, 2021
Texas
Municipal Bonds
Percentage of municipal bonds carrying value	9.60%	8.70%
California
Municipal Bonds
Percentage of municipal bonds carrying value	8.50%	11.80%
New York
Municipal Bonds
Percentage of municipal bonds carrying value	6.70%	5.10%
Illinois
Municipal Bonds
Percentage of municipal bonds carrying value	5.60%	4.10%
Pennsylvania
Municipal Bonds
Percentage of municipal bonds carrying value	5.40%	5.40%
Florida
Municipal Bonds
Percentage of municipal bonds carrying value	5.00%	4.20%

Investments - Other investments by type (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Investment [Line Items]
Other investments	$ 1,728	$ 2,656
Bank loans, net
Investment [Line Items]
Other investments	686	1,574
Real estate
Investment [Line Items]
Other investments	813	809
Policy loans
Investment [Line Items]
Other investments	120	148
Derivatives
Investment [Line Items]
Other investments	1	12
Other
Investment [Line Items]
Other investments	$ 108	$ 113

Investments - Rollforward of credit loss allowance for fixed income securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Credit Losses on Fixed Income Securities [Roll Forward]
Beginning balance	$ (6)	$ (2)
Ending balance	(13)	(6)	$ (2)
Fixed income securities
Credit Losses on Fixed Income Securities [Roll Forward]
Beginning balance	(6)	(2)	0
Credit losses on securities for which credit losses not previously reported	(1)	(5)	(2)
Net increases related to credit losses previously reported	(6)	1	0
Reduction of allowance related to sales	0	0	0
Write-offs	0	0	0
Ending balance	(13)	(6)	(2)
Corporate
Credit Losses on Fixed Income Securities [Roll Forward]
Beginning balance	(6)	(1)
Ending balance	(11)	(6)	(1)
ABS
Credit Losses on Fixed Income Securities [Roll Forward]
Beginning balance	0	(1)
Ending balance	$ (2)	$ 0	$ (1)

Investments - Gross unrealized losses and fair value by the type and length of time held in continuous unrealized loss position (Details) $ in Millions	Dec. 31, 2022 USD ($) Contract	Dec. 31, 2021 USD ($) Contract
U.S. government and agencies
Less than 12 months
Number of issues \| Contract	112	112
Fair value	$ 4,900	$ 5,451
Unrealized losses	$ (138)	$ (24)
12 months or more
Number of issues \| Contract	75	4
Fair value	$ 2,393	$ 72
Unrealized losses	(93)	(2)
Total unrealized losses
Total unrealized losses	$ (231)	$ (26)
Municipal
Less than 12 months
Number of issues \| Contract	3,015	767
Fair value	$ 3,944	$ 1,213
Unrealized losses	$ (215)	$ (15)
12 months or more
Number of issues \| Contract	507	2
Fair value	$ 740	$ 14
Unrealized losses	(111)	(1)
Total unrealized losses
Total unrealized losses	$ (326)	$ (16)
Corporate
Less than 12 months
Number of issues \| Contract	2,085	1,197
Fair value	$ 18,072	$ 9,725
Unrealized losses	$ (1,389)	$ (176)
12 months or more
Number of issues \| Contract	845	22
Fair value	$ 6,105	$ 130
Unrealized losses	(956)	(16)
Total unrealized losses
Total unrealized losses	$ (2,345)	$ (192)
Foreign government
Less than 12 months
Number of issues \| Contract	74	51
Fair value	$ 739	$ 415
Unrealized losses	$ (22)	$ (6)
12 months or more
Number of issues \| Contract	42	4
Fair value	$ 200	$ 3
Unrealized losses	(18)	0
Total unrealized losses
Total unrealized losses	$ (40)	$ (6)
ABS
Less than 12 months
Number of issues \| Contract	194	80
Fair value	$ 874	$ 500
Unrealized losses	$ (27)	$ (2)
12 months or more
Number of issues \| Contract	83	53
Fair value	$ 109	$ 8
Unrealized losses	(8)	0
Total unrealized losses
Total unrealized losses	$ (35)	$ (2)
Fixed income securities
Less than 12 months
Number of issues \| Contract	5,480	2,207
Fair value	$ 28,529	$ 17,304
Unrealized losses	$ (1,791)	$ (223)
12 months or more
Number of issues \| Contract	1,552	85
Fair value	$ 9,547	$ 227
Unrealized losses	(1,186)	(19)
Total unrealized losses
Total unrealized losses	$ (2,977)	$ (242)
Investment grade fixed income securities
Less than 12 months
Number of issues \| Contract	4,959	1,993
Fair value	$ 25,487	$ 15,391
Unrealized losses	$ (1,409)	$ (188)
12 months or more
Number of issues \| Contract	1,437	71
Fair value	$ 8,791	$ 183
Unrealized losses	(1,009)	(8)
Total unrealized losses
Total unrealized losses	$ (2,418)	$ (196)
Below investment grade fixed income securities
Less than 12 months
Number of issues \| Contract	521	214
Fair value	$ 3,042	$ 1,913
Unrealized losses	$ (382)	$ (35)
12 months or more
Number of issues \| Contract	115	14
Fair value	$ 756	$ 44
Unrealized losses	(177)	(11)
Total unrealized losses
Total unrealized losses	$ (559)	$ (46)

Investments - Gross unrealized losses by unrealized loss position and credit quality (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Investment grade
Investment [Line Items]
Fixed income securities with unrealized loss position less than 20% of amortized cost, net	$ (2,058,000,000)
Fixed income securities with unrealized loss position greater than or equal to 20% of amortized cost, net	(360,000,000)
Total unrealized losses	(2,418,000,000)	$ (196,000,000)
Below investment grade
Investment [Line Items]
Fixed income securities with unrealized loss position less than 20% of amortized cost, net	(388,000,000)
Fixed income securities with unrealized loss position greater than or equal to 20% of amortized cost, net	(171,000,000)
Total unrealized losses	(559,000,000)	(46,000,000)
Unrealized losses having loss of less than twenty percent	(302,000,000)
Unrealized losses having loss of greater than twenty percent	0
Fixed income securities
Investment [Line Items]
Fixed income securities with unrealized loss position less than 20% of amortized cost, net	(2,446,000,000)
Fixed income securities with unrealized loss position greater than or equal to 20% of amortized cost, net	(531,000,000)
Total unrealized losses	$ (2,977,000,000)	$ (242,000,000)

Investments - Accrued Interest (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Schedule of Available for Sale Securities
Accrued investment income	$ 423	$ 339
Mortgage loans
Schedule of Available for Sale Securities
Accrued investment income	3	2
Bank Loans
Schedule of Available for Sale Securities
Accrued investment income	$ 3	$ 4

Investments - Mortgage loans amortized cost by debt service coverage ratio distribution and year of origination (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost, net	$ 762	$ 821
Mortgage loans on real estate
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	769	827
Allowance	(7)	(6)
Amortized cost, net	762	821
Mortgage loans on real estate \| 2017 and prior
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	83
Mortgage loans on real estate \| 2018
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	78
Mortgage loans on real estate \| 2019
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	238
Mortgage loans on real estate \| 2020
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	52
Mortgage loans on real estate \| 2021
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	217
Mortgage loans on real estate \| Current
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	101
Below 1.0 \| Mortgage loans on real estate
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	18	0
Below 1.0 \| Mortgage loans on real estate \| 2017 and prior
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	0
Below 1.0 \| Mortgage loans on real estate \| 2018
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	0
Below 1.0 \| Mortgage loans on real estate \| 2019
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	0
Below 1.0 \| Mortgage loans on real estate \| 2020
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	0
Below 1.0 \| Mortgage loans on real estate \| 2021
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	0
Below 1.0 \| Mortgage loans on real estate \| Current
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	18
1.0 - 1.25 \| Mortgage loans on real estate
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	42	46
1.0 - 1.25 \| Mortgage loans on real estate \| 2017 and prior
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	10
1.0 - 1.25 \| Mortgage loans on real estate \| 2018
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	0
1.0 - 1.25 \| Mortgage loans on real estate \| 2019
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	0
1.0 - 1.25 \| Mortgage loans on real estate \| 2020
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	10
1.0 - 1.25 \| Mortgage loans on real estate \| 2021
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	0
1.0 - 1.25 \| Mortgage loans on real estate \| Current
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	22
1.26 - 1.50 \| Mortgage loans on real estate
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	151	160
1.26 - 1.50 \| Mortgage loans on real estate \| 2017 and prior
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	37
1.26 - 1.50 \| Mortgage loans on real estate \| 2018
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	5
1.26 - 1.50 \| Mortgage loans on real estate \| 2019
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	102
1.26 - 1.50 \| Mortgage loans on real estate \| 2020
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	0
1.26 - 1.50 \| Mortgage loans on real estate \| 2021
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	0
1.26 - 1.50 \| Mortgage loans on real estate \| Current
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	7
Above 1.50 \| Mortgage loans on real estate
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	558	$ 621
Above 1.50 \| Mortgage loans on real estate \| 2017 and prior
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	36
Above 1.50 \| Mortgage loans on real estate \| 2018
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	73
Above 1.50 \| Mortgage loans on real estate \| 2019
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	136
Above 1.50 \| Mortgage loans on real estate \| 2020
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	42
Above 1.50 \| Mortgage loans on real estate \| 2021
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	217
Above 1.50 \| Mortgage loans on real estate \| Current
Debt and Equity Securities, FV-NI [Line Items]
Amortized cost before allowance	$ 54

Investments - Rollforward of credit loss allowance for mortgage loans (Details) - Mortgage loans on real estate - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ (6)	$ (67)	$ (3)
Net decreases related to credit losses	(1)	40	(39)
Reduction of allowance related to sales	0	21	17
Write-offs	0	0	0
Ending balance	(7)	(6)	(67)
Discontinued Operations, Held-for-sale
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]
Beginning balance		(59)
Ending balance			(59)
Cumulative effect of change in accounting principle
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 0	0	(42)
Ending balance		$ 0	$ 0

Investments - Bank loans amortized cost by credit quality and year of acquisition (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Schedule of Available for Sale Securities
Amortized cost, net	$ 762	$ 821
Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	743	1,635
Allowance	(57)	(61)
Amortized cost, net	686	1,574
2017 and prior \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	34
2018 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	26
2019 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	64
2020 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	31
2021 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	531
Current \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	57
NAIC 2 / BBB \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	54	86
NAIC 2 / BBB \| 2017 and prior \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	0
NAIC 2 / BBB \| 2018 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	0
NAIC 2 / BBB \| 2019 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	6
NAIC 2 / BBB \| 2020 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	6
NAIC 2 / BBB \| 2021 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	37
NAIC 2 / BBB \| Current \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	5
NAIC 3 / BB \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	266	656
NAIC 3 / BB \| 2017 and prior \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	6
NAIC 3 / BB \| 2018 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	0
NAIC 3 / BB \| 2019 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	5
NAIC 3 / BB \| 2020 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	2
NAIC 3 / BB \| 2021 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	239
NAIC 3 / BB \| Current \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	14
NAIC 4 / B \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	329	768
NAIC 4 / B \| 2017 and prior \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	7
NAIC 4 / B \| 2018 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	16
NAIC 4 / B \| 2019 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	17
NAIC 4 / B \| 2020 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	15
NAIC 4 / B \| 2021 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	241
NAIC 4 / B \| Current \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	33
NAIC 5-6 / CCC and below \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	94	$ 125
NAIC 5-6 / CCC and below \| 2017 and prior \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	21
NAIC 5-6 / CCC and below \| 2018 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	10
NAIC 5-6 / CCC and below \| 2019 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	36
NAIC 5-6 / CCC and below \| 2020 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	8
NAIC 5-6 / CCC and below \| 2021 \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	14
NAIC 5-6 / CCC and below \| Current \| Bank loans, net
Schedule of Available for Sale Securities
Amortized cost before allowance	$ 5

Investments - Rollforward of credit loss allowance for bank loans (Details) - Bank Loans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt and Equity Securities, FV-NI [Line Items]
Beginning balance	$ (61)	$ (67)	$ 0
Net decreases related to credit losses	(26)	(15)	(28)
Reduction of allowance related to sales	30	21	9
Write-offs	0	0	5
Ending balance	(57)	(61)	(67)
Discontinued Operations, Held-for-sale
Debt and Equity Securities, FV-NI [Line Items]
Beginning balance		(16)
Ending balance			(16)
Cumulative effect of change in accounting principle
Debt and Equity Securities, FV-NI [Line Items]
Beginning balance	$ 0	0	(53)
Ending balance		$ 0	$ 0

Fair Value of Assets and Liabilities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair value of assets and liabilities measured on recurring and non-recurring basis
Commitments to invest in limited partnership interests	$ 2,778	$ 2,720
Fixed income securities	42,485	42,136
Total assets at fair value	51,358	53,318
Fixed Income Securities Valued Based on Nonbinding Broker Quotes
Fair value of assets and liabilities measured on recurring and non-recurring basis
Total assets at fair value	70	41
Municipal Not Rated by Third Party Credit Rating Agencies
Fair value of assets and liabilities measured on recurring and non-recurring basis
Total assets at fair value	21	16
Significant unobservable inputs (Level 3)
Fair value of assets and liabilities measured on recurring and non-recurring basis
Total assets at fair value	641	597
Recurring basis
Fair value of assets and liabilities measured on recurring and non-recurring basis
Fixed income securities	42,485	42,136
Total assets at fair value	51,335	53,286
Recurring basis \| Significant unobservable inputs (Level 3)
Fair value of assets and liabilities measured on recurring and non-recurring basis
Fixed income securities	173	144
Total assets at fair value	618	$ 565
Fair Value
Fair value of assets and liabilities measured on recurring and non-recurring basis
Commitments to invest in limited partnership interests	$ 214
Fair Value \| Minimum
Fair value of assets and liabilities measured on recurring and non-recurring basis
Investment assets, useful life	10 years
Fair Value \| Maximum
Fair value of assets and liabilities measured on recurring and non-recurring basis
Investment assets, useful life	12 years

Fair Value of Assets and Liabilities - Assets and liabilities measured at fair value on a recurring and non-recurring basis (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Fixed income securities	$ 42,485	$ 42,136
Equity securities	4,567	7,061
Short-term investments	4,173	4,009
Other investments	1,728	2,656
Total assets at fair value	51,358	53,318
Counterparty and cash collateral netting	$ (22)	$ (22)
% of total assets at fair value	0.00%	0.00%
Total	$ 52,604	$ 54,849
Liabilities
Other liabilities	$ (371)	$ (401)
% of total liabilities at fair value	(420.00%)	(87.50%)
Fair value
Assets
% of total assets at fair value	100.00%	100.00%
Liabilities
% of total liabilities at fair value	100.00%	100.00%
U.S. government and agencies
Assets
Fixed income securities	$ 7,898	$ 6,273
Municipal
Assets
Fixed income securities	6,210	6,393
Foreign government
Assets
Fixed income securities	957	985
ABS
Assets
Fixed income securities	1,157	1,155
Quoted prices in active markets for identical assets (Level 1)
Assets
Total assets at fair value	$ 12,325	$ 13,700
% of total assets at fair value	24.00%	25.70%
Liabilities
% of total liabilities at fair value	20.00%	37.50%
Significant other observable inputs (Level 2)
Assets
Total assets at fair value	$ 38,414	$ 39,043
% of total assets at fair value	74.80%	73.20%
Liabilities
% of total liabilities at fair value	500.00%	150.00%
Significant unobservable inputs (Level 3)
Assets
Total assets at fair value	$ 641	$ 597
% of total assets at fair value	1.20%	1.10%
Liabilities
% of total liabilities at fair value	0.00%	0.00%
Reported at NAV
Assets
Investments reported at NAV	$ 1,246	$ 1,531
Recurring basis
Assets
Fixed income securities	42,485	42,136
Equity securities	4,567	7,061
Short-term investments	4,173	4,009
Other investments	4	14
Other investments	22	22
Other assets	106	66
Total assets at fair value	51,335	53,286
Counterparty and cash collateral netting	(22)	(22)
Liabilities
Other liabilities	(5)	(8)
Other liabilities	21	7
Total recurring basis liabilities	(5)	(8)
Counterparty and cash collateral netting	21	7
Recurring basis \| U.S. government and agencies
Assets
Fixed income securities	7,898	6,273
Recurring basis \| Municipal
Assets
Fixed income securities	6,210	6,393
Recurring basis \| Corporate - public
Assets
Fixed income securities	18,616	16,589
Recurring basis \| Corporate - privately placed
Assets
Fixed income securities	7,647	10,741
Recurring basis \| Foreign government
Assets
Fixed income securities	957	985
Recurring basis \| ABS
Assets
Fixed income securities	1,157	1,155
Recurring basis \| Quoted prices in active markets for identical assets (Level 1)
Assets
Fixed income securities	7,878	6,247
Equity securities	3,936	6,312
Short-term investments	508	1,140
Other investments	0	0
Other assets	3	1
Total assets at fair value	12,325	13,700
Liabilities
Other liabilities	(1)	(3)
Total recurring basis liabilities	(1)	(3)
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| U.S. government and agencies
Assets
Fixed income securities	7,878	6,247
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| Municipal
Assets
Fixed income securities	0	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| Corporate - public
Assets
Fixed income securities	0	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| Corporate - privately placed
Assets
Fixed income securities	0	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| Foreign government
Assets
Fixed income securities	0	0
Recurring basis \| Quoted prices in active markets for identical assets (Level 1) \| ABS
Assets
Fixed income securities	0	0
Recurring basis \| Significant other observable inputs (Level 2)
Assets
Fixed income securities	34,434	35,745
Equity securities	298	400
Short-term investments	3,659	2,864
Other investments	23	34
Other assets	0	0
Total assets at fair value	38,414	39,043
Liabilities
Other liabilities	(25)	(12)
Total recurring basis liabilities	(25)	(12)
Recurring basis \| Significant other observable inputs (Level 2) \| U.S. government and agencies
Assets
Fixed income securities	20	26
Recurring basis \| Significant other observable inputs (Level 2) \| Municipal
Assets
Fixed income securities	6,189	6,375
Recurring basis \| Significant other observable inputs (Level 2) \| Corporate - public
Assets
Fixed income securities	18,547	16,569
Recurring basis \| Significant other observable inputs (Level 2) \| Corporate - privately placed
Assets
Fixed income securities	7,592	10,675
Recurring basis \| Significant other observable inputs (Level 2) \| Foreign government
Assets
Fixed income securities	957	985
Recurring basis \| Significant other observable inputs (Level 2) \| ABS
Assets
Fixed income securities	1,129	1,115
Recurring basis \| Significant unobservable inputs (Level 3)
Assets
Fixed income securities	173	144
Equity securities	333	349
Short-term investments	6	5
Other investments	3	2
Other assets	103	65
Total assets at fair value	618	565
Liabilities
Other liabilities	0	0
Total recurring basis liabilities	0	0
Recurring basis \| Significant unobservable inputs (Level 3) \| U.S. government and agencies
Assets
Fixed income securities	0	0
Recurring basis \| Significant unobservable inputs (Level 3) \| Municipal
Assets
Fixed income securities	21	18
Recurring basis \| Significant unobservable inputs (Level 3) \| Corporate - public
Assets
Fixed income securities	69	20
Recurring basis \| Significant unobservable inputs (Level 3) \| Corporate - privately placed
Assets
Fixed income securities	55	66
Recurring basis \| Significant unobservable inputs (Level 3) \| Foreign government
Assets
Fixed income securities	0	0
Recurring basis \| Significant unobservable inputs (Level 3) \| ABS
Assets
Fixed income securities	28	40
Non-recurring basis
Assets
Total assets at fair value	23	32
Non-recurring basis \| Quoted prices in active markets for identical assets (Level 1)
Assets
Total assets at fair value	0	0
Non-recurring basis \| Significant other observable inputs (Level 2)
Assets
Total assets at fair value	0	0
Non-recurring basis \| Significant unobservable inputs (Level 3)
Assets
Total assets at fair value	$ 23	$ 32

Fair Value of Assets and Liabilities - Rollforward of level 3 assets and liabilities held at fair value on a recurring basis during the period (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Balance at beginning of period	$ 565	$ 832	$ 738
Total gains (losses) included in: net income	76	128	0
Total gains (losses) included in: OCI	(2)	2	(12)
Transfers into Level 3	2	32	128
Transfers out of Level 3	(28)	(45)	(116)
Purchases	155	124	240
Sales	(121)	(405)	(95)
Issues	0	0	0
Settlements	(29)	(103)	(51)
Balance at end of period	$ 618	$ 565	$ 832
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net investment income, Net gains (losses) on investments and derivatives	Net investment income, Net gains (losses) on investments and derivatives	Net investment income, Net gains (losses) on investments and derivatives
Liabilities
Balance at beginning of period	$ 0	$ (516)	$ (462)
Total gains (losses) included in: net income	0	35	(43)
Total gains (losses) included in: OCI	0	0	0
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Purchases	0	0	0
Sales	0	492	0
Issues	0	(28)	(34)
Settlements	0	17	23
Balance at end of period	0	0	(516)
Net investment income
Fair value assets and liabilities measured on recurring basis, gain (loss) included in earnings
Gain (loss) included in earnings	$ 15	$ 1	$ (16)
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net investment income	Net investment income	Net investment income
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net investment income	Net investment income	Net investment income
Net gains (losses) on investments and derivatives
Fair value assets and liabilities measured on recurring basis, gain (loss) included in earnings
Gain (loss) included in earnings	$ 61	$ 124	$ 15
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives
Liabilities held for sale
Liabilities
Balance at beginning of period	$ 0	$ (516)	$ (462)
Total gains (losses) included in: net income		35	(43)
Total gains (losses) included in: OCI		0	0
Transfers into Level 3		0	0
Transfers out of Level 3		0	0
Purchases		0	0
Sales		492	0
Issues		(28)	(34)
Settlements		17	23
Balance at end of period		0	(516)
Municipal
Assets
Balance at beginning of period	18	17	22
Total gains (losses) included in: net income	0	0	0
Total gains (losses) included in: OCI	1	0	0
Transfers into Level 3	2	1	0
Transfers out of Level 3	0	0	0
Purchases	2	3	0
Sales	0	0	(3)
Issues	0	0	0
Settlements	(2)	(3)	(2)
Balance at end of period	21	18	17
Corporate - public
Assets
Balance at beginning of period	20	67	36
Total gains (losses) included in: net income	0	1	0
Total gains (losses) included in: OCI	(5)	(1)	1
Transfers into Level 3	0	0	1
Transfers out of Level 3	0	0	0
Purchases	66	13	48
Sales	(10)	(53)	(19)
Issues	0	0	0
Settlements	(2)	0	0
Balance at end of period	69	20	67
Corporate - privately placed
Assets
Balance at beginning of period	66	63	32
Total gains (losses) included in: net income	19	(2)	0
Total gains (losses) included in: OCI	2	3	(5)
Transfers into Level 3	0	10	21
Transfers out of Level 3	0	0	0
Purchases	34	6	17
Sales	(65)	(23)	(2)
Issues	0	0	0
Settlements	(1)	(5)	0
Balance at end of period	55	66	63
ABS
Assets
Balance at beginning of period	40	79	84
Total gains (losses) included in: net income	1	0	(1)
Total gains (losses) included in: OCI	0	1	0
Transfers into Level 3	0	4	54
Transfers out of Level 3	(28)	(32)	(49)
Purchases	17	47	59
Sales	0	(5)	(26)
Issues	0	0	0
Settlements	(2)	(54)	(42)
Balance at end of period	28	40	79
Fixed income securities
Assets
Balance at beginning of period	144	226	174
Total gains (losses) included in: net income	20	(1)	(1)
Total gains (losses) included in: OCI	(2)	3	(4)
Transfers into Level 3	2	15	76
Transfers out of Level 3	(28)	(32)	(49)
Purchases	119	69	124
Sales	(75)	(81)	(50)
Issues	0	0	0
Settlements	(7)	(62)	(44)
Balance at end of period	173	144	226
Equity securities
Assets
Balance at beginning of period	349	304	255
Total gains (losses) included in: net income	16	61	0
Total gains (losses) included in: OCI	0	0	0
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Purchases	13	43	57
Sales	(45)	(160)	(8)
Issues	0	0	0
Settlements	0	0	0
Balance at end of period	333	349	304
Short-term investments
Assets
Balance at beginning of period	5	35	25
Total gains (losses) included in: net income	0	0	0
Total gains (losses) included in: OCI	0	0	0
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	(25)
Purchases	23	5	35
Sales	0	0	0
Issues	0	0	0
Settlements	(22)	(35)	0
Balance at end of period	6	5	35
Other investments
Assets
Balance at beginning of period	2	0
Total gains (losses) included in: net income	2	0
Total gains (losses) included in: OCI	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Purchases	0	3
Sales	(1)	(1)
Issues	0	0
Settlements	0	0
Balance at end of period	3	2	0
Other assets
Assets
Balance at beginning of period	65	0
Total gains (losses) included in: net income	38	65
Total gains (losses) included in: OCI	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Purchases	0	0
Sales	0	0
Issues	0	0
Settlements	0	0
Balance at end of period	103	65	0
Assets held for sale
Assets
Balance at beginning of period	$ 0	267	284
Total gains (losses) included in: net income		3	1
Total gains (losses) included in: OCI		(1)	(8)
Transfers into Level 3		17	52
Transfers out of Level 3		(13)	(42)
Purchases		4	24
Sales		(163)	(37)
Issues		0	0
Settlements		(6)	(7)
Balance at end of period		$ 0	$ 267

Fair Value of Assets and Liabilities - Change in level 3 assets and liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gains (losses) included in net income for Level 3 assets and liabilities:
Total recurring Level 3 assets	$ 55	$ 91	$ (2)
Total recurring Level 3 liabilities	0	0	$ (43)
Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Income Extensible List Not Disclosed Flag			Total included in net income
Total included in net income	55	91	$ (45)
Total included in net income	55	91	(2)
Changes in unrealized net capital gains and losses reported in OCI	$ (4)	$ 3	$ (9)
Net investment income
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net investment income	Net investment income	Net investment income
Total included in net income	$ 14	$ 1	$ (16)
Net gains (losses) on investments and derivatives
Gains (losses) included in net income for Level 3 assets and liabilities:
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives	Net gains (losses) on investments and derivatives
Total included in net income	$ 41	$ 90	$ 14
Liabilities held for sale
Gains (losses) included in net income for Level 3 assets and liabilities:
Total recurring Level 3 liabilities	0	0	(43)
Municipal
Gains (losses) included in net income for Level 3 assets and liabilities:
Changes in unrealized net capital gains and losses reported in OCI	1	0	0
Corporate - public
Gains (losses) included in net income for Level 3 assets and liabilities:
Total recurring Level 3 assets	0	0	(1)
Changes in unrealized net capital gains and losses reported in OCI	(5)	0	1
Corporate - privately placed
Gains (losses) included in net income for Level 3 assets and liabilities:
Total recurring Level 3 assets	1	(2)	0
Changes in unrealized net capital gains and losses reported in OCI	0	3	(5)
Assets held for sale
Gains (losses) included in net income for Level 3 assets and liabilities:
Changes in unrealized net capital gains and losses reported in OCI	0	0	(5)
Fixed income securities
Gains (losses) included in net income for Level 3 assets and liabilities:
Total recurring Level 3 assets	1	(2)	(1)
Equity securities
Gains (losses) included in net income for Level 3 assets and liabilities:
Total recurring Level 3 assets	14	28	(1)
Other investments
Gains (losses) included in net income for Level 3 assets and liabilities:
Total recurring Level 3 assets	2	0	0
Other assets
Gains (losses) included in net income for Level 3 assets and liabilities:
Total recurring Level 3 assets	$ 38	$ 65	$ 0

Fair Value of Assets and Liabilities - Carrying values and fair value estimates (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial assets
Mortgage loans, net	$ 762	$ 821
Financial liabilities
Debt	7,964	7,976
Liability for collateral	2,011	1,444	$ 914	$ 1,298
Significant unobservable inputs (Level 3) \| Amortized cost, net
Financial assets
Mortgage loans, net	762	821
Bank loans	686	1,574
Financial liabilities
Contractholder funds on investment contracts	50	55
Significant unobservable inputs (Level 3) \| Fair value
Financial assets
Mortgage loans, net	700	853
Bank loans	686	1,634
Financial liabilities
Contractholder funds on investment contracts	50	55
Significant other observable inputs (Level 2) \| Amortized cost, net
Financial liabilities
Debt	7,964	7,976
Liability for collateral	2,011	1,444
Significant other observable inputs (Level 2) \| Fair value
Financial liabilities
Debt	7,449	9,150
Liability for collateral	$ 2,011	$ 1,444

Derivative Financial Instruments and Off-balance Sheet Financial Instruments - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Derivative Financial Instruments and Off-balance sheet Financial Instruments
Potential recoveries	$ 0
Contingent consideration term	10 years
Term of credit default swaps (in years)	5 years

Derivative Financial Instruments and Off-balance Sheet Financial Instruments - Summary of the volume and fair value positions (Details) $ in Millions	Dec. 31, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract
Derivatives, Fair Value
Total asset derivatives, notional amount	$ 628	$ 1,285
Total liability derivatives, notional amount	808	790
Total derivatives, notional amount	$ 1,436	$ 2,075
Total asset derivatives, number of contracts \| contract	24,723,000,000	1,355
Total liability derivatives, number of contracts \| contract	2,853,000,000	37,928
Total derivatives, number of contracts \| contract	27,576,000,000	39,283
Net amount on balance sheet	$ 107	$ 76
Net amount on balance sheet	(4)	9
Total derivatives, fair value, net	103	85
Asset derivatives, gross asset	121	77
Liability derivatives, gross asset	8	23
Asset derivatives, gross liability	(14)	(1)
Liability derivatives, gross liability	$ (12)	$ (14)
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, net, Other investments, net	Other assets, net, Other investments, net
Derivatives not designated as accounting hedging instruments
Derivatives, Fair Value
Total liability derivatives, number of contracts \| contract		36,668
Net amount on balance sheet		$ (2)
Liability derivatives, gross asset		0
Liability derivatives, gross liability		$ (2)
Futures \| Derivatives not designated as accounting hedging instruments
Derivatives, Fair Value
Total asset derivatives, number of contracts \| contract	24,380,000,000	1,181
Total liability derivatives, number of contracts \| contract	1,624,000,000
Net amount on balance sheet	$ 3	$ 1
Net amount on balance sheet	0
Asset derivatives, gross asset	3	1
Liability derivatives, gross asset	0
Asset derivatives, gross liability	0	$ 0
Liability derivatives, gross liability	$ 0
Options \| Derivatives not designated as accounting hedging instruments
Derivatives, Fair Value
Total asset derivatives, number of contracts \| contract		61
Net amount on balance sheet		$ 5
Asset derivatives, gross asset		5
Asset derivatives, gross liability		$ 0
Futures \| Derivatives not designated as accounting hedging instruments
Derivatives, Fair Value
Total asset derivatives, number of contracts \| contract	343,000,000	113
Total liability derivatives, number of contracts \| contract	1,229,000,000	1,260
Net amount on balance sheet	$ 0	$ 0
Net amount on balance sheet	(1)	(1)
Asset derivatives, gross asset	0	0
Liability derivatives, gross asset	0	0
Asset derivatives, gross liability	0	0
Liability derivatives, gross liability	(1)	(1)
Foreign currency forwards \| Derivatives not designated as accounting hedging instruments
Derivatives, Fair Value
Total asset derivatives, notional amount	354	2
Total liability derivatives, notional amount	283	715
Net amount on balance sheet	1	0
Net amount on balance sheet	0	16
Asset derivatives, gross asset	14	0
Liability derivatives, gross asset	7	23
Asset derivatives, gross liability	(13)	0
Liability derivatives, gross liability	(7)	(7)
Embedded derivative financial instruments
Derivatives, Fair Value
Total asset derivatives, notional amount		750
Net amount on balance sheet		0
Asset derivatives, gross asset		0
Asset derivatives, gross liability		0
Contingent consideration \| Derivatives not designated as accounting hedging instruments
Derivatives, Fair Value
Total asset derivatives, notional amount	250	250
Net amount on balance sheet	103	65
Asset derivatives, gross asset	103	65
Asset derivatives, gross liability	0	0
Credit default swaps – buying protection \| Derivatives not designated as accounting hedging instruments
Derivatives, Fair Value
Total asset derivatives, notional amount	24	33
Total liability derivatives, notional amount	525	70
Net amount on balance sheet	0	(1)
Net amount on balance sheet	(3)	(4)
Asset derivatives, gross asset	1	0
Liability derivatives, gross asset	1	0
Asset derivatives, gross liability	(1)	(1)
Liability derivatives, gross liability	$ (4)	(4)
Credit default swaps – selling protection \| Derivatives not designated as accounting hedging instruments
Derivatives, Fair Value
Total asset derivatives, notional amount		250
Total liability derivatives, notional amount		5
Net amount on balance sheet		6
Net amount on balance sheet		0
Asset derivatives, gross asset		6
Liability derivatives, gross asset		0
Asset derivatives, gross liability		0
Liability derivatives, gross liability		$ 0

Derivative Financial Instruments and Off-balance Sheet Financial Instruments - Gross and net amounts for OTC derivatives (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Asset derivatives
Gross amount	$ 121	$ 77
Counter- party netting	(14)	(1)
Net amount on balance sheet	107	76
Liability derivatives
Gross amount	(12)	(14)
Counter- party netting	8	23
Net amount on balance sheet	(4)	9
OTC derivatives
Asset derivatives
Gross amount	23	23
Counter- party netting	(22)	(24)
Cash collateral (received) pledged	0	2
Net amount on balance sheet	1	1
Securities collateral (received) pledged	0	0
Net amount	1	1
Liability derivatives
Gross amount	(22)	(10)
Counter- party netting	22	24
Cash collateral (received) pledged	(1)	(17)
Net amount on balance sheet	(1)	(3)
Securities collateral (received) pledged	0	0
Net amount	$ (1)	$ (3)

Derivative Financial Instruments and Off-balance Sheet Financial Instruments - OTC cash and securities collateral pledged (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivative Financial Instruments and Off-balance sheet Financial Instruments
Pledged by the Company	$ 11
Pledged to the Company	12
Collateral posted under MNAs for contracts containing credit-risk contingent features	$ 10	$ 0

Derivative Financial Instruments and Off-balance Sheet Financial Instruments - OTC derivatives counterparty credit exposure by counterparty credit rating (Details) $ in Millions	Dec. 31, 2022 USD ($) counter-party	Dec. 31, 2021 USD ($) counter-party
Credit Derivatives
Number of counter-parties \| counter-party	2	2
Notional amount	$ 320	$ 566
Credit exposure	12	16
Exposure, net of collateral	$ 0	$ 0
A+
Credit Derivatives
Number of counter-parties \| counter-party	1	1
Notional amount	$ 128	$ 199
Credit exposure	5	7
Exposure, net of collateral	$ 0	$ 0
A
Credit Derivatives
Number of counter-parties \| counter-party	1	1
Notional amount	$ 192	$ 367
Credit exposure	7	9
Exposure, net of collateral	$ 0	$ 0

Derivative Financial Instruments and Off-balance Sheet Financial Instruments - Exchange traded and cleared margin deposits (Details) $ in Millions	Dec. 31, 2022 USD ($)
Derivative Financial Instruments and Off-balance sheet Financial Instruments
Pledged by the Company	$ 177
Received by the Company	$ 0

Derivative Financial Instruments and Off-balance Sheet Financial Instruments - Fair value of instruments with credit-risk-contingent features (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross liability fair value of contracts containing credit-risk-contingent features	$ 21	$ 8
Gross asset fair value of contracts containing credit-risk-contingent features and subject to MNAs	(11)	(7)
Collateral posted under MNAs for contracts containing credit-risk-contingent features	(10)	0
Maximum amount of additional exposure for contracts with credit-risk-contingent features if all features were triggered concurrently	$ 0	$ 1

Derivative Financial Instruments and Off-balance Sheet Financial Instruments - CDS notional amount by credit rating and fair value of protection sold (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Derivative Financial Instruments and Off-balance sheet Financial Instruments
Term of credit default swaps	5 years
Credit Derivatives
Derivative, notional amount	$ 1,436	$ 2,075
Credit default contracts
Credit Derivatives
Derivative, notional amount		255
Fair value		6
Credit default contracts \| Single name \| Corporate
Credit Derivatives
Derivative, notional amount		5
Fair value		0
Credit default contracts \| Index \| Corporate
Credit Derivatives
Derivative, notional amount		250
Fair value		6
AAA \| Credit default contracts
Credit Derivatives
Derivative, notional amount		2
AAA \| Credit default contracts \| Single name \| Corporate
Credit Derivatives
Derivative, notional amount		0
AAA \| Credit default contracts \| Index \| Corporate
Credit Derivatives
Derivative, notional amount		2
AA \| Credit default contracts
Credit Derivatives
Derivative, notional amount		4
AA \| Credit default contracts \| Single name \| Corporate
Credit Derivatives
Derivative, notional amount		0
AA \| Credit default contracts \| Index \| Corporate
Credit Derivatives
Derivative, notional amount		4
A \| Credit default contracts
Credit Derivatives
Derivative, notional amount		46
A \| Credit default contracts \| Single name \| Corporate
Credit Derivatives
Derivative, notional amount		0
A \| Credit default contracts \| Index \| Corporate
Credit Derivatives
Derivative, notional amount		46
NAIC 2 / BBB \| Credit default contracts
Credit Derivatives
Derivative, notional amount		190
NAIC 2 / BBB \| Credit default contracts \| Single name \| Corporate
Credit Derivatives
Derivative, notional amount		0
NAIC 2 / BBB \| Credit default contracts \| Index \| Corporate
Credit Derivatives
Derivative, notional amount		190
BB and lower \| Credit default contracts
Credit Derivatives
Derivative, notional amount		13
BB and lower \| Credit default contracts \| Single name \| Corporate
Credit Derivatives
Derivative, notional amount		5
BB and lower \| Credit default contracts \| Index \| Corporate
Credit Derivatives
Derivative, notional amount		$ 8

Derivative Financial Instruments and Off-balance Sheet Financial Instruments - Off balance sheet financial instruments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivative Financial Instruments and Off-balance sheet Financial Instruments
Commitments to invest in limited partnership interests	$ 2,778	$ 2,720
Private placement commitments	114	104
Other loan commitments	$ 10	$ 16

Variable Interest Entities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Losses from catastrophes, net of recoveries	$ 37,264	$ 29,318	$ 22,001
Property and casualty insurance premiums (net of reinsurance ceded and indemnification programs of $1,869, $1,904 and $1,141)	47,737	44,039	$ 38,167
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Notes payable	123	123
Variable Interest Entity, Primary Beneficiary \| Allstate Protection
Variable Interest Entity [Line Items]
Losses from catastrophes, net of recoveries	130	135
Property and casualty insurance premiums (net of reinsurance ceded and indemnification programs of $1,869, $1,904 and $1,141)	$ 164	$ 181

Variable Interest Entities - Assets and liabilities of consolidated VIEs (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investments
Fixed income securities	$ 42,485	$ 42,136
Short-term investments	4,173	4,009
Deferred policy acquisition costs	5,418	4,722	$ 3,774	$ 3,600
Premium installment and other receivables, net	9,165	8,364
Reinsurance recoverables, net	9,606	10,024
Other assets	5,905	6,086
Total assets	97,957	99,440
Liabilities
Reserve for property and casualty insurance claims and claims expense	37,541	33,060
Unearned premiums	22,311	19,844
Total liabilities	80,607	74,313
Variable Interest Entity, Primary Beneficiary
Investments
Fixed income securities	302	324
Short-term investments	13	30
Deferred policy acquisition costs	15	15
Premium installment and other receivables, net	43	42
Reinsurance recoverables, net	97	114
Other assets	90	82
Total assets	560	607
Liabilities
Reserve for property and casualty insurance claims and claims expense	209	226
Unearned premiums	171	175
Other liabilities and accrued expenses	311	265
Total liabilities	$ 691	$ 666

Reserve for Property and Casualty Insurance Claims and Claims Expense - Rollforward of reserve for property and casualty insurance claims and claims expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Incurred claims and claims expense related to:
Prior years	$ 1,741	$ 122	$ (436)
Total incurred	37,264	29,318	22,001
Property and casualty
Activity in the reserve for property-liability insurance claims and claims expense:
Balance as of January 1	33,060	27,610	27,712
Less recoverables	(9,479)	(7,033)	(6,912)
Net balance as of January 1	23,581	20,577	20,800
Incurred claims and claims expense related to:
Current year	35,523	29,196	22,437
Prior years	1,741	122	(436)
Total incurred	37,264
Claims and claims expense paid related to:
Current year	(20,739)	(18,438)	(14,245)
Prior years	(11,741)	(9,807)	(7,979)
Total paid	(32,480)	(28,245)	(22,224)
Net balance as of December 31	28,365	23,581	20,577
Plus recoverables	(9,176)	(9,479)	(7,033)
Balance as of December 31	37,541	33,060	27,610
Property and casualty \| National General Holdings Corp.
Activity in the reserve for property-liability insurance claims and claims expense:
National General acquisition as of January 4, 2021	0	1,797	0
Property and casualty \| SafeAuto
Activity in the reserve for property-liability insurance claims and claims expense:
National General acquisition as of January 4, 2021	$ 0	$ 134	$ 0

Reserve for Property and Casualty Insurance Claims and Claims Expense - Reconciliation of total claims and claims expense incurred and paid by coverage (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Increase (decrease) in claims and claims expense
Incurred	$ 37,264	$ 29,318	$ 22,001
Property and casualty
Increase (decrease) in claims and claims expense
Incurred	37,264
Paid	(32,480)	$ (28,245)	$ (22,224)
Property and casualty \| Claims incurred and paid from before 2018
Increase (decrease) in claims and claims expense
Incurred	80
Paid	(787)
Auto insurance - liability coverage \| Property and casualty
Increase (decrease) in claims and claims expense
Incurred	14,376
Paid	(11,173)
Auto insurance - physical damage coverage \| Property and casualty
Increase (decrease) in claims and claims expense
Incurred	9,411
Paid	(8,802)
Homeowners insurance \| Property and casualty
Increase (decrease) in claims and claims expense
Incurred	6,971
Paid	(5,977)
Total auto and homeowners insurance \| Property and casualty
Increase (decrease) in claims and claims expense
Incurred	30,758
Paid	(25,952)
Other personal lines \| Property and casualty
Increase (decrease) in claims and claims expense
Incurred	1,520
Paid	(1,317)
Commercial lines \| Property and casualty
Increase (decrease) in claims and claims expense
Incurred	1,256
Paid	(817)
Protection Services \| Property and casualty
Increase (decrease) in claims and claims expense
Incurred	440
Paid	(438)
Run-off Property-Liability \| Property and casualty
Increase (decrease) in claims and claims expense
Incurred	116
Paid	(86)
Unallocated loss adjustment expenses (“ULAE”) \| Property and casualty
Increase (decrease) in claims and claims expense
Incurred	3,048
Paid	(2,847)
Other \| Property and casualty
Increase (decrease) in claims and claims expense
Incurred	46
Paid	$ (236)

Reserve for Property and Casualty Insurance Claims and Claims Expense - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Increase (decrease) in claims and claims expense
Losses from catastrophes, net of recoveries	$ 37,264	$ 29,318	$ 22,001
Catastrophe
Increase (decrease) in claims and claims expense
Losses from catastrophes, net of recoveries	$ 3,110	$ 3,340	$ 2,810

Reserve for Property and Casualty Insurance Claims and Claims Expense - Prior year reserve reestimates included in claims and claims expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Increase (decrease) in claims and claims expense
Prior years	$ 1,741	$ 122	$ (436)
Auto
Increase (decrease) in claims and claims expense
Prior years	1,185	149	(107)
Homeowners
Increase (decrease) in claims and claims expense
Prior years	194	(153)	(439)
Other personal lines
Increase (decrease) in claims and claims expense
Prior years	(32)	(107)	(66)
Commercial lines
Increase (decrease) in claims and claims expense
Prior years	272	119	36
Run-off Property-Liability
Increase (decrease) in claims and claims expense
Prior years	125	116	141
Protection Services
Increase (decrease) in claims and claims expense
Prior years	(3)	(2)	(1)
Catastrophe losses
Increase (decrease) in claims and claims expense
Prior years	18	(202)	(503)
Catastrophe losses \| Nationwide Aggregate Reinsurance Program
Increase (decrease) in claims and claims expense
Prior years		240
Catastrophe losses \| PG&E And Southern California Edison
Increase (decrease) in claims and claims expense
Prior years			495
Catastrophe losses \| Auto
Increase (decrease) in claims and claims expense
Prior years	(64)	(29)	(44)
Catastrophe losses \| Homeowners
Increase (decrease) in claims and claims expense
Prior years	81	(165)	(422)
Catastrophe losses \| Other personal lines
Increase (decrease) in claims and claims expense
Prior years	2	(11)	(39)
Catastrophe losses \| Commercial lines
Increase (decrease) in claims and claims expense
Prior years	(1)	3	2
Catastrophe losses \| Run-off Property-Liability
Increase (decrease) in claims and claims expense
Prior years	0	0	0
Catastrophe losses \| Protection Services
Increase (decrease) in claims and claims expense
Prior years	0	0	0
Fire \| Southern California Edison
Increase (decrease) in claims and claims expense
Prior years		110
Non-catastrophe losses
Increase (decrease) in claims and claims expense
Prior years	1,723	324	67
Non-catastrophe losses \| Auto
Increase (decrease) in claims and claims expense
Prior years	1,249	178	(63)
Non-catastrophe losses \| Homeowners
Increase (decrease) in claims and claims expense
Prior years	113	12	(17)
Non-catastrophe losses \| Other personal lines
Increase (decrease) in claims and claims expense
Prior years	(34)	(96)	(27)
Non-catastrophe losses \| Commercial lines
Increase (decrease) in claims and claims expense
Prior years	273	116	34
Non-catastrophe losses \| Run-off Property-Liability
Increase (decrease) in claims and claims expense
Prior years	125	116	141
Non-catastrophe losses \| Protection Services
Increase (decrease) in claims and claims expense
Prior years	(3)	(2)	(1)
Annual reserve review \| Run-off Property-Liability
Increase (decrease) in claims and claims expense
Prior years	$ 118	$ 111	$ 132

Reserve for Property and Casualty Insurance Claims and Claims Expense - Claims and allocated claim adjustment expenses, net of reinsurance (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Auto insurance - liability coverage
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	$ 54,036
Prior year reserve reestimates	980
Prior year reserve reestimates	1,154
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	37,986
All outstanding liabilities before 2018, net of recoverables	1,332
Liabilities for claims and claim adjustment expenses, net of recoverables	17,382
Auto insurance - liability coverage \| Accident Year 2018
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	9,928	$ 9,835	$ 9,798	$ 9,758	$ 9,788
Prior year reserve reestimates	93
IBNR reserves plus expected development on reported claims	$ 603
Cumulative number of reported claims \| claim	2,500,972
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 9,325	8,703	7,785	6,404	3,663
Auto insurance - liability coverage \| Accident Year 2019
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	10,905	10,716	10,471	10,526	0
Prior year reserve reestimates	189
IBNR reserves plus expected development on reported claims	$ 1,242
Cumulative number of reported claims \| claim	2,637,152
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 9,663	8,651	7,080	3,974	0
Auto insurance - liability coverage \| Accident Year 2020
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	8,984	8,744	8,748	0	0
Prior year reserve reestimates	240
IBNR reserves plus expected development on reported claims	$ 1,813
Cumulative number of reported claims \| claim	1,904,004
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 7,171	5,858	3,135	0	0
Auto insurance - liability coverage \| Accident Year 2021
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	10,823	10,365	0	0	0
Prior year reserve reestimates	458
IBNR reserves plus expected development on reported claims	$ 3,488
Cumulative number of reported claims \| claim	2,291,873
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 7,335	3,601	0	0	0
Auto insurance - liability coverage \| Accident Year 2022
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	13,396	0	0	0	0
IBNR reserves plus expected development on reported claims	$ 8,904
Cumulative number of reported claims \| claim	2,311,893
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 4,492	0	0	0	0
Auto insurance - liability coverage \| Prior year reserve reestimates for pre-2018 accident years
Increase (decrease) in claims and claims expense
Prior year reserve reestimates	152
Auto insurance - liability coverage \| Prior year reserve reestimates for ULAE
Increase (decrease) in claims and claims expense
Prior year reserve reestimates	18
Auto insurance - liability coverage \| Other
Increase (decrease) in claims and claims expense
Prior year reserve reestimates	4
Auto insurance - physical damage coverage
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	33,879
Prior year reserve reestimates	26
Prior year reserve reestimates	31
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	32,850
All outstanding liabilities before 2018, net of recoverables	11
Liabilities for claims and claim adjustment expenses, net of recoverables	1,040
Auto insurance - physical damage coverage \| Accident Year 2018
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	5,637	5,640	5,647	5,692	5,775
Prior year reserve reestimates	(3)
IBNR reserves plus expected development on reported claims	$ 0
Cumulative number of reported claims \| claim	4,686,877
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 5,637	5,635	5,638	5,681	5,464
Auto insurance - physical damage coverage \| Accident Year 2019
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	6,134	6,136	6,174	6,255	0
Prior year reserve reestimates	(2)
IBNR reserves plus expected development on reported claims	$ (1)
Cumulative number of reported claims \| claim	4,861,875
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 6,135	6,138	6,144	5,947	0
Auto insurance - physical damage coverage \| Accident Year 2020
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	5,381	5,407	5,495	0	0
Prior year reserve reestimates	(26)
IBNR reserves plus expected development on reported claims	$ (7)
Cumulative number of reported claims \| claim	4,013,428
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 5,388	5,415	5,129	0	0
Auto insurance - physical damage coverage \| Accident Year 2021
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	7,342	7,285	0	0	0
Prior year reserve reestimates	57
IBNR reserves plus expected development on reported claims	$ (23)
Cumulative number of reported claims \| claim	4,587,385
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 7,365	6,860	0	0	0
Auto insurance - physical damage coverage \| Accident Year 2022
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	9,385	0	0	0	0
IBNR reserves plus expected development on reported claims	$ 1,060
Cumulative number of reported claims \| claim	4,711,189
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 8,325	0	0	0	0
Auto insurance - physical damage coverage \| Prior year reserve reestimates for pre-2018 accident years
Increase (decrease) in claims and claims expense
Prior year reserve reestimates	0
Auto insurance - physical damage coverage \| Prior year reserve reestimates for ULAE
Increase (decrease) in claims and claims expense
Prior year reserve reestimates	3
Auto insurance - physical damage coverage \| Other
Increase (decrease) in claims and claims expense
Prior year reserve reestimates	2
Homeowners
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	28,940
Prior year reserve reestimates	267
Prior year reserve reestimates	194
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	25,567
All outstanding liabilities before 2018, net of recoverables	86
Liabilities for claims and claim adjustment expenses, net of recoverables	3,459
Homeowners \| Accident Year 2018
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	4,852	4,818	4,947	5,251	5,145
Prior year reserve reestimates	34
IBNR reserves plus expected development on reported claims	$ 42
Cumulative number of reported claims \| claim	898,857
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 4,810	4,736	4,749	4,873	3,768
Homeowners \| Accident Year 2019
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	4,931	4,920	4,912	4,853	0
Prior year reserve reestimates	11
IBNR reserves plus expected development on reported claims	$ 85
Cumulative number of reported claims \| claim	869,860
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 4,846	4,768	4,576	3,527	0
Homeowners \| Accident Year 2020
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	5,921	5,827	5,781	0	0
Prior year reserve reestimates	94
IBNR reserves plus expected development on reported claims	$ 137
Cumulative number of reported claims \| claim	989,034
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 5,784	5,548	4,257	0	0
Homeowners \| Accident Year 2021
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	6,532	6,404	0	0	0
Prior year reserve reestimates	128
IBNR reserves plus expected development on reported claims	$ 385
Cumulative number of reported claims \| claim	992,897
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 6,147	4,538	0	0	0
Homeowners \| Accident Year 2022
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	6,704	0	0	0	0
IBNR reserves plus expected development on reported claims	$ 2,724
Cumulative number of reported claims \| claim	705,357
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 3,980	$ 0	$ 0	$ 0	$ 0
Homeowners \| Prior year reserve reestimates for pre-2018 accident years
Increase (decrease) in claims and claims expense
Prior year reserve reestimates	(72)
Homeowners \| Prior year reserve reestimates for ULAE
Increase (decrease) in claims and claims expense
Prior year reserve reestimates	2
Homeowners \| Other
Increase (decrease) in claims and claims expense
Prior year reserve reestimates	$ (3)

Reserve for Property and Casualty Insurance Claims and Claims Expense - Average annual percentage payout of incurred claims by age, net of reinsurance (Details)	Dec. 31, 2022
Auto insurance – liability coverage
Claims Development [Line Items]
1 year	37.60%
2 years	28.70%
3 years	13.30%
4 years	8.50%
5 years	5.30%
Auto insurance - physical damage coverage
Claims Development [Line Items]
1 year	95.20%
2 years	4.40%
3 years	(0.30%)
4 years	(1.50%)
5 years	1.60%
Homeowners
Claims Development [Line Items]
1 year	72.00%
2 years	21.30%
3 years	2.90%
4 years	0.80%
5 years	0.80%

Reserve for Property and Casualty Insurance Claims and Claims Expense - Reconciliation of the net incurred and paid claims development (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property and casualty
Claims Development [Line Items]
Net outstanding liabilities	$ 28,365
ULAE	1,649
Recoverables	9,176	$ 9,479	$ 7,033	$ 6,912
ULAE	126
Gross reserve for property and casualty insurance claims and claims expense	37,541	$ 33,060	$ 27,610	$ 27,712
Auto insurance - liability coverage
Claims Development [Line Items]
Net outstanding liabilities	17,382
Auto insurance - liability coverage \| Property and casualty
Claims Development [Line Items]
Net outstanding liabilities	17,382
Recoverables	7,214
Auto insurance - physical damage coverage
Claims Development [Line Items]
Net outstanding liabilities	1,040
Auto insurance - physical damage coverage \| Property and casualty
Claims Development [Line Items]
Net outstanding liabilities	1,040
Recoverables	44
Homeowners insurance
Claims Development [Line Items]
Net outstanding liabilities	3,459
Homeowners insurance \| Property and casualty
Claims Development [Line Items]
Net outstanding liabilities	3,459
Recoverables	666
Other personal lines \| Property and casualty
Claims Development [Line Items]
Net outstanding liabilities	1,558
Recoverables	320
Commercial lines \| Property and casualty
Claims Development [Line Items]
Net outstanding liabilities	1,857
Recoverables	292
Protection Services \| Property and casualty
Claims Development [Line Items]
Net outstanding liabilities	36
Recoverables	11
Run-off Property-Liability
Claims Development [Line Items]
Gross reserve for property and casualty insurance claims and claims expense	765
Run-off Property-Liability \| Property and casualty
Claims Development [Line Items]
Net outstanding liabilities	1,370
Recoverables	503
Other \| Property and casualty
Claims Development [Line Items]
Net outstanding liabilities	$ 14

Reserve for Future Policy Benefits and Contractholder Funds - Reserve for future policy benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reserve for life-contingent benefits:
Reserve for future policy benefits	$ 1,273	$ 1,273
Traditional life insurance and other
Reserve for life-contingent benefits:
Reserve for future policy benefits	$ 318	313
Traditional life insurance and other \| Minimum
Key assumptions generally used in calculating the reserve for life-contingent contract benefits:
Life contingent contract benefits, interest rate assumptions (as a percent)	1.80%
Traditional life insurance and other \| Maximum
Key assumptions generally used in calculating the reserve for life-contingent contract benefits:
Life contingent contract benefits, interest rate assumptions (as a percent)	7.00%
Accident and health insurance
Reserve for life-contingent benefits:
Reserve for future policy benefits	$ 955	$ 960
Accident and health insurance \| Minimum
Key assumptions generally used in calculating the reserve for life-contingent contract benefits:
Life contingent contract benefits, interest rate assumptions (as a percent)	2.00%
Accident and health insurance \| Maximum
Key assumptions generally used in calculating the reserve for life-contingent contract benefits:
Life contingent contract benefits, interest rate assumptions (as a percent)	7.00%

Reserve for Future Policy Benefits and Contractholder Funds - Claims and allocated claim adjustment expenses, net of reinsurance (Details) - Group and individual accident and health $ in Millions	Dec. 31, 2022 USD ($) claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	$ 1,596
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	1,418
All outstanding liabilities before 2018, net of recoverables	0
Liabilities for claims and claim adjustment expenses, net of recoverables	178
Accident Year 2018
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	203	$ 203	$ 203	$ 205	$ 235
IBNR reserves plus expected development on reported claims	$ 0
Cumulative number of reported claims \| claim	292,491
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 203	203	203	201	126
Accident Year 2019
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	242	242	239	257	0
IBNR reserves plus expected development on reported claims	$ 0
Cumulative number of reported claims \| claim	311,662
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 242	242	234	158	0
Accident Year 2020
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	294	293	297	0	0
IBNR reserves plus expected development on reported claims	$ 4
Cumulative number of reported claims \| claim	414,634
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 290	284	184	0	0
Accident Year 2021
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	420	424	0	0	0
IBNR reserves plus expected development on reported claims	$ 12
Cumulative number of reported claims \| claim	671,483
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 408	272	0	0	0
Accident Year 2022
Increase (decrease) in claims and claims expense
Incurred claims and allocated claim adjustment expenses, net of recoverables	437	0	0	0	0
IBNR reserves plus expected development on reported claims	$ 162
Cumulative number of reported claims \| claim	427,124
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables	$ 275	$ 0	$ 0	$ 0	$ 0

Reserve for Future Policy Benefits and Contractholder Funds - Reconciliation of the net incurred and paid claims development (Details) - Accident and health insurance $ in Millions	Dec. 31, 2022 USD ($)
Reserve for life-contingent benefits:
Net outstanding liabilities	$ 1,134
Gross reserve for future policy benefits	1,273
Group and individual accident and health short-duration contracts
Reserve for life-contingent benefits:
Net outstanding liabilities	178
Recoverables	35
Other accident and health short-duration contracts
Reserve for life-contingent benefits:
Net outstanding liabilities	31
Recoverables	0
Long duration accident and health insurance
Reserve for life-contingent benefits:
Net outstanding liabilities	592
Long duration traditional life insurance and other
Reserve for life-contingent benefits:
Net outstanding liabilities	324
Insurance lines other than short-duration
Reserve for life-contingent benefits:
Recoverables	104
Unallocated loss adjustment expenses (“ULAE”)
Reserve for life-contingent benefits:
Net outstanding liabilities	9
Recoverables	$ 0

Reserve for Future Policy Benefits and Contractholder Funds - Average annual percentage payout of incurred claims by age, net of recoverables (Details) - Group and individual accident and health	Dec. 31, 2022
Reserve for life-contingent benefits:
1 year	63.00%
2 years	34.30%
3 years	2.10%
4 years	0.60%
5 years	0.00%

Reserve for Future Policy Benefits and Contractholder Funds - Contractholder funds (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Key contract provisions relating to contractholder funds:
Policyholder Contract Deposit	$ 897	$ 908	$ 857	$ 915
Interest Sensitive Life Insurance
Key contract provisions relating to contractholder funds:
Policyholder Contract Deposit	$ 847	$ 853

Reserve for Future Policy Benefits and Contractholder Funds - Contractholder funds activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Contractholder funds activity
Balance, beginning of year	$ 908	$ 857	$ 915
Deposits	133	118	121
Interest credited	32	34	33
Benefits	(21)	(41)	(34)
Surrenders and partial withdrawals	(28)	(23)	(61)
Contract charges	(121)	(107)	(123)
Other adjustments	(6)	70	6
Balance, end of year	$ 897	$ 908	$ 857

Reinsurance and Indemnification - Effects of reinsurance on property and casualty premiums (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property and casualty insurance premiums earned
Direct	$ 49,392	$ 45,822	$ 39,208
Assumed	252	199	113
Ceded	(1,907)	(1,982)	(1,154)
Net amount	47,737	44,039	38,167
Property and casualty insurance premiums
Property and casualty insurance premiums written
Direct	50,065	45,523	38,695
Assumed	245	213	105
Ceded	(1,824)	(1,736)	(1,142)
Property and casualty insurance premiums written, net of recoverables	48,486	44,000	37,658
Property and casualty insurance premiums earned
Direct	47,552	43,944	38,115
Assumed	221	178	99
Ceded	(1,869)	(1,904)	(1,141)
Net amount	45,904	42,218	37,073
Accident and health insurance
Property and casualty insurance premiums earned
Direct	1,622	1,722	931
Assumed	14	6	0
Ceded	(31)	(72)	(5)
Net amount	1,605	1,656	926
Accident and health insurance premiums and contract charges
Direct	1,840	1,878	1,093
Assumed	31	21	14
Ceded	(38)	(78)	(13)
Accident and health insurance premiums and contract charges, net of recoverables	$ 1,833	$ 1,821	$ 1,094

Reinsurance and Indemnification - Reinsurance recoverables on paid and unpaid benefits (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reinsurance Retention Policy [Line Items]
Reinsurance and indemnification recoverables, net	$ 9,606	$ 10,024
Property and casualty
Reinsurance Retention Policy [Line Items]
Paid and due from reinsurers and indemnitors	291	391
Unpaid losses estimated (including IBNR)	9,176	9,479	$ 7,033	$ 6,912
Reinsurance and indemnification recoverables, net	9,467	9,870
Accident and health insurance
Reinsurance Retention Policy [Line Items]
Reinsurance and indemnification recoverables, net	$ 139	$ 154

Reinsurance and Indemnification - Rollforward of credit loss allowance for reinsurance recoverables (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reinsurance
Beginning balance	$ (74)
Ending balance	(65)	$ (74)
Property and casualty
Reinsurance
Beginning balance	(66)	(59)
Decrease/(Increase) in the provision for credit losses	(5)	(8)
Write-offs	9	1
Ending balance	(62)	(66)
Accident and health insurance
Reinsurance
Beginning balance	(8)	(1)
Decrease/(Increase) in the provision for credit losses	5	(7)
Write-offs	0	0
Ending balance	$ (3)	$ (8)

Reinsurance and Indemnification - Michigan catastrophic claims association (Details) - USD ($)		6 Months Ended	12 Months Ended	24 Months Ended
	Jul. 01, 2023	Jun. 30, 2022	Dec. 31, 2022	Jun. 30, 2023	Jun. 30, 2021	Dec. 31, 2021	Nov. 03, 2021
Reinsurance Retention Policy [Line Items]
Assets			$ 97,957,000,000			$ 99,440,000,000
Retained income			50,954,000,000			53,294,000,000
Michigan Catastrophic Claim Association
Reinsurance Retention Policy [Line Items]
Reinsurance and indemnification recoverables, net			6,720,000,000			$ 6,700,000,000
Program funding, per vehicle annual assessment			$ 86
Reinsurance increase, percentage			6.00%
Retention level per claim					$ 580,000
Term of catastrophe reinsurance agreement contract					2 years
Assets		$ 21,820,000,000
Retained income		3,680,000,000
Retained earnings accumulated deficit decrease		$ 44,890,000,000
Program surplus, per vehicle refund							$ 400
Program surplus, per historical vehicle refund							$ 80
Michigan Catastrophic Claim Association \| Forecast
Reinsurance Retention Policy [Line Items]
Retention level per claim				$ 600,000
Term of catastrophe reinsurance agreement contract				2 years
Program funding, additional per vehicle annual assessment	$ 48

Reinsurance and Indemnification - New jersey property-liability insurance guaranty association (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
New Jersey Unsatisfied Claim and Judgment Fund
Reinsurance Retention Policy [Line Items]
Minimum medical benefits portion of personal injury protection coverage for reimbursement to insurers for policies issued or renewed prior to January 1, 1991	$ 75
Minimum medical benefits portion of personal injury protection coverage for reimbursement to insurers for policies issued or renewed from January 1, 1991 to December 31, 2004	75
Maximum reimbursement to insurers for medical benefits paid under personal injury protection coverage.	250
Reinsurance, administration assessments paid	7,000
Reinsurance and indemnification recoverables, net	$ 330,000	$ 371,000
Insurance fund balance		62,000
PLGIA
Reinsurance Retention Policy [Line Items]
Insurance fund balance		$ 268,000

Reinsurance and Indemnification - North carolina reinsurance facility (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Reinsurance Retention Policy [Line Items]
Insurance premiums	$ 47,737		$ 44,039	$ 38,167
North Carolina Reinsurance Facility
Reinsurance Retention Policy [Line Items]
Funds deficit in member's equity		$ 148
Net income		81
Insurance premiums		1,100
Paid and due from reinsurers and indemnitors	52
Recoverables	$ 240
Reinsurance Contract [Axis]: Member Loss Recoupments \| North Carolina Reinsurance Facility
Reinsurance Retention Policy [Line Items]
Insurance premiums		37
Reinsurance Contract [Axis]: Private Passenger Auto Risk Recoupment \| North Carolina Reinsurance Facility
Reinsurance Retention Policy [Line Items]
Insurance premiums		$ 302

Reinsurance and Indemnification - Florida hurricane catastrophe fund (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	May 31, 2022 USD ($) numberOfHurricane	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Reinsurance Retention Policy [Line Items]
Property-liability insurance premiums earned	$ 1,907		$ 1,982	$ 1,154
Florida Hurricane Catastrophe Fund
Reinsurance Retention Policy [Line Items]
Property-liability insurance premiums earned	24		15	9
Reinsurance recoverable, qualifying losses, amount	74		13	$ 15
Percent of losses in excess of retention level to be reimbursed		90.00%
Retention level for losses related to 2 largest hurricanes		$ 153
Number of storms \| numberOfHurricane		2
Retention level for losses related to other hurricanes		$ 51
Maximum Retention level for losses related to hurricanes		$ 350
Reinsurance and indemnification recoverables, net	$ 96		$ 25
Florida Hurricane Catastrophe Fund
Reinsurance Retention Policy [Line Items]
Emergency assessment maximum percentage of premiums first year	6.00%
Emergency assessment maximum percentage of premiums subsequent years	10.00%

Reinsurance and Indemnification - National flood insurance program (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022
Reinsurance Retention Policy [Line Items]
Property-liability insurance premiums earned	$ 1,907	$ 1,982	$ 1,154
National Flood Insurance Program
Reinsurance Retention Policy [Line Items]
Legislation to reauthorize				$ 20,500
Reinsurance and indemnification recoverables, net	145	34
Property-liability insurance premiums earned	319	350	261
Reinsurance ceded amount	$ 435	$ 267	$ 87

Reinsurance and Indemnification - Catastrophe reinsurance (Details) - 12 months ended Dec. 31, 2022 $ in Millions, $ in Millions	USD ($) contract reinstatement	CAD ($) contract reinstatement
Contract Two \| Minimum
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	$ 3,750
Contract Two \| Maximum
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	5,940
Contract Three \| Minimum
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	5,940
Contract Three \| Maximum
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	6,610
Traditional Market, Placement One
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	640
Exhausting loss from catastrophes	3,750
Traditional Market, Placement One \| Contract Two
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	$ 175
Number of reinstatements each year for each contract \| reinstatement	0	0
Traditional Market, Placement One \| Contract Three
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	$ 465
Catastrophe Reinsurance Program
Ceded Credit Risk [Line Items]
Catastrophe reinsurance loss amount	2,500
Catastrophe reinsurance aggregate loss limit	7,010
Retention amount for catastrophe reinsurance agreement contracts	500
Catastrophe Reinsurance Program \| Traditional Market Member
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	3,890
Catastrophe Reinsurance Program \| Traditional Market, Placement One
Ceded Credit Risk [Line Items]
Loss from catastrophes	3,560
Exhausting loss from catastrophes	$ 500
Percentage of co-participation	5.00%	5.00%
Catastrophe Reinsurance Program \| Traditional Market, Placement One \| Contract Four
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	$ 250
Contracts number \| contract	4	4
Number of reinstatements each year for each contract \| reinstatement	1	1
Catastrophe annual reinstatement of limits, percentage	31.70%	31.70%
Catastrophe annual reinstatement of limits	$ 500
Term of catastrophe reinsurance agreement contract	1 year	1 year
Catastrophe Reinsurance Program \| Traditional Market, Placement One \| Contract Three
Ceded Credit Risk [Line Items]
Number of reinstatements each year for each contract \| reinstatement	0	0
Catastrophe Reinsurance Program \| Traditional Market, Placement Two
Ceded Credit Risk [Line Items]
Retention amount for catastrophe reinsurance agreement contracts	$ 3,750
Loss from catastrophes	$ 331
Percentage of co-participation	5.00%	5.00%
Number of reinstatements each year for each contract \| reinstatement	1	1
Catastrophe Reinsurance Program \| Traditional Market, Placement Two \| Contract Two
Ceded Credit Risk [Line Items]
Contracts number \| contract	2	2
Term of catastrophe reinsurance agreement contract	8 years	8 years
Catastrophe Reinsurance Program \| Insurance Linked Securities (ILS)
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	$ 1,550
Catastrophe Reinsurance Program \| Insurance Linked Securities (ILS) \| Five Contracts
Ceded Credit Risk [Line Items]
Reinsurance ceded amount	950
Catastrophe Reinsurance Program \| Insurance Linked Securities (ILS) \| Contract Three
Ceded Credit Risk [Line Items]
Reinsurance ceded amount	425
Catastrophe Reinsurance Program \| Insurance Linked Securities (ILS) \| Contract One
Ceded Credit Risk [Line Items]
Reinsurance ceded amount	$ 175
Catastrophe Reinsurance Program \| Canada Catastrophe Excess of Loss
Ceded Credit Risk [Line Items]
Retention amount for catastrophe reinsurance agreement contracts		$ 50
Loss from catastrophes		$ 175
Number of reinstatements each year for each contract \| reinstatement	1	1
Kentucky Agreement
Ceded Credit Risk [Line Items]
Retention amount for catastrophe reinsurance agreement contracts	$ 2
Limit of aggregate losses under aggregate excess agreement	$ 28
Term of catastrophe reinsurance agreement contract	3 years	3 years
Retention percentage of reinsurance limit	95.00%	95.00%
Florida Hurricane Catastrophe Fund
Ceded Credit Risk [Line Items]
Catastrophe reinsurance aggregate loss limit	$ 1,830
Retention amount for catastrophe reinsurance agreement contracts	$ 40
Contracts number \| contract	2	2
Reinsurance ceded amount	$ 350
Florida Hurricane Catastrophe Fund \| Florida Hurricane Catastrophe Fund, Contract Two
Ceded Credit Risk [Line Items]
Retention percentage of reinsurance limit	90.00%	90.00%
Florida Hurricane Catastrophe Fund \| Florida Hurricane Catastrophe Fund, Contract One
Ceded Credit Risk [Line Items]
Retention percentage of reinsurance limit	90.00%	90.00%
Florida Hurricane Catastrophe Fund \| Traditional Market, Placement One
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	$ 1,300
Florida Hurricane Catastrophe Fund \| Insurance Linked Securities (ILS)
Ceded Credit Risk [Line Items]
Limit of aggregate losses under aggregate excess agreement	$ 488

Reinsurance and Indemnification - Kentucky earthquake excess catastrophe reinsurance contract (Details) - Kentucky Agreement $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Reinsurance Retention Policy [Line Items]
Term of catastrophe reinsurance agreement contract	3 years
Limit of aggregate losses under aggregate excess agreement	$ 28
Retention percentage of reinsurance limit	95.00%
Retention amount for catastrophe reinsurance agreement contracts	$ 2

Reinsurance and Indemnification- Florida hurricane catastrophe fund (“FHCF”), insurance linked securities (“ILS”) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) reinstatement	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Ceded Credit Risk [Line Items]
Property-liability insurance premiums earned	$ 1,907	$ 1,982	$ 1,154
National General Florida Hurricane Catastrophe Program
Ceded Credit Risk [Line Items]
Reinsurance ceded amount	$ 32
Retention percentage of reinsurance limit	90.00%
Catastrophe Reinsurance Program
Ceded Credit Risk [Line Items]
Retention amount for catastrophe reinsurance agreement contracts	$ 500
Property-liability insurance premiums earned	788	$ 556	$ 425
Traditional market \| National General Lender Services Standalone Program
Ceded Credit Risk [Line Items]
Loss from catastrophes	225
Retention amount for catastrophe reinsurance agreement contracts	$ 50
Number of reinstatements each year for each contract \| reinstatement	1
Traditional market \| National General Reciprocal Excess Catastrophe Reinsurance Contract
Ceded Credit Risk [Line Items]
Loss from catastrophes	$ 690
Retention amount for catastrophe reinsurance agreement contracts	$ 20
Number of reinstatements each year for each contract \| reinstatement	1
Traditional market \| Catastrophe Reinsurance Program
Ceded Credit Risk [Line Items]
Loss from catastrophes	$ 3,560

Reinsurance and Indemnification - Other reinsurance programs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Aleka Insurance Inc
Reinsurance Retention Policy [Line Items]
Largest reinsurance recoverable from a single reinsurer	$ 183	$ 187
Lloyds of London
Reinsurance Retention Policy [Line Items]
Reinsurance and indemnification recoverables, net	$ 180	$ 165

Deferred Policy Acquisition Costs -Deferred policy acquisition costs activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred policy acquisition costs activity
Balance, beginning of year	$ 4,722	$ 3,774	$ 3,600
Acquisition costs deferred	7,337	6,874	5,651
Amortization charged to income	(6,644)	(6,252)	(5,477)
Effect of unrealized gains and losses	3	2	0
Balance, end of year	5,418	4,722	3,774
National General
Deferred policy acquisition costs activity
Acquisition	0	317	0
SafeAuto
Deferred policy acquisition costs activity
Acquisition	$ 0	$ 7	$ 0

Capital Structure - Total debt outstanding (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Due in one year through five years	$ 2,250	$ 2,250
Due after five years through ten years	759	759
Due after ten years	4,982	4,982
Total long-term debt principal	7,991	7,991
Fair value adjustments	26	45
Debt issuance costs	(53)	(60)
Total long-term debt	7,964	7,976
Short-term debt	0	0
Total debt	$ 7,964	7,976
Redemption price as percentage of principal amount plus accrued and unpaid interest	100.00%
Floating Rate Senior Notes, due 2023
Debt Instrument [Line Items]
Due in one year through five years	$ 250	250
Interest rate spread over LIBOR (as a percent)	0.63%
3.15% Senior Notes, due 2023
Debt Instrument [Line Items]
Due in one year through five years	$ 500	500
Note stated interest rate (as a percent)	3.15%
6.750% Senior Notes due 2024
Debt Instrument [Line Items]
Due in one year through five years	$ 350	350
Note stated interest rate (as a percent)	6.75%
0.75% Senior Notes, due 2025
Debt Instrument [Line Items]
Due in one year through five years	$ 600	600
Note stated interest rate (as a percent)	0.75%
3.28% Senior Notes, due 2026
Debt Instrument [Line Items]
Due in one year through five years	$ 550	550
Note stated interest rate (as a percent)	3.28%
1.45% Senior Notes, due 2030
Debt Instrument [Line Items]
Due after five years through ten years	$ 600	600
Note stated interest rate (as a percent)	1.45%
6.125% Senior Notes, due 2032
Debt Instrument [Line Items]
Due after ten years	$ 159	159
Note stated interest rate (as a percent)	6.125%
5.35% Senior Notes due 2033
Debt Instrument [Line Items]
Due after ten years	$ 323	323
Note stated interest rate (as a percent)	5.35%
5.55% Senior Notes due 2035
Debt Instrument [Line Items]
Due after ten years	$ 546	546
Note stated interest rate (as a percent)	5.55%
5.95% Senior Notes, due 2036
Debt Instrument [Line Items]
Due after ten years	$ 386	386
Note stated interest rate (as a percent)	5.95%
6.900% Senior Debentures, due 2038
Debt Instrument [Line Items]
Due after ten years	$ 165	165
Note stated interest rate (as a percent)	6.90%
5.20% Senior Notes due 2042
Debt Instrument [Line Items]
Due after ten years	$ 62	62
Note stated interest rate (as a percent)	5.20%
4.50% Senior Notes, due 2043
Debt Instrument [Line Items]
Due after ten years	$ 500	500
Note stated interest rate (as a percent)	4.50%
4.20% Senior Notes, due 2046
Debt Instrument [Line Items]
Due after ten years	$ 700	700
Note stated interest rate (as a percent)	4.20%
3.85% Senior Notes, due 2049
Debt Instrument [Line Items]
Due after ten years	$ 500	500
Note stated interest rate (as a percent)	3.85%
5.100% Subordinated Debentures, due 2053
Debt Instrument [Line Items]
Due after ten years	$ 500	500
Note stated interest rate (as a percent)	5.10%
5.750% Subordinated Debentures, due 2053
Debt Instrument [Line Items]
Due after ten years	$ 800	800
Note stated interest rate (as a percent)	5.75%
6.500% Junior Subordinated Debentures, due 2067
Debt Instrument [Line Items]
Due after ten years	$ 500	$ 500
Total long-term debt	$ 500
Note stated interest rate (as a percent)	6.50%

Capital Structure - Debt maturities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Total debt outstanding by maturity:
2023	$ 750
2024	350
2025	600
2026	550
2027	0
Thereafter	5,741
Total long-term debt principal	$ 7,991	$ 7,991

Capital Structure - Narrative (Details)	12 Months Ended
Capital Structure - Narrative (Details)	Dec. 31, 2022 USD ($) director $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($)	Nov. 30, 2022 USD ($)	Feb. 03, 2021
Class of Stock [Line Items]
Debt	$ 7,964,000,000	$ 7,976,000,000
Additional borrowing capacity under credit facility increase provision	$ 500,000,000
Maximum debt to capital ratio allowed under credit facility covenant (as a percent)	37.50%
Credit facility, amount outstanding	$ 0	0
Interest paid on debt	323,000,000	321,000,000	$ 311,000,000
Other liabilities and accrued expenses	$ 371,000,000	$ 401,000,000
Common stock
Common stock, shares, issued (in shares) \| shares	900,000,000	900,000,000
Common stock, shares, outstanding (in shares) \| shares	263,000,000	281,000,000
Treasury stock, shares (in shares) \| shares	637,000,000
Reacquired shares (in shares) \| shares	20,000,000
Average cost of reacquired shares (in dollars per share) \| $ / shares	$ 126.56
Reissued net shares under equity incentive plans (in shares) \| shares	3,000,000
Preferred stock
Preferred stock, par or stated value per share (in dollars per share) \| $ / shares	$ 1	$ 1
Period of issuance of common stock prior to dividend declaration date during which dividend declaration is prohibited	90 days
Noncumulative Perpetual Preferred Stock
Class of Stock [Line Items]
Period after occurrence of certain tax and rating agency events in which redemption of debt in whole permissible	90 days
Preferred stock
Preferred stock, par or stated value per share (in dollars per share) \| $ / shares	$ 1.00
Preferred stock, shares liquidation preference (in dollars per share) \| $ / shares	25,000
Preferred stock, redemption price (in dollars per share) \| $ / shares	$ 25,000
Maximum
Preferred stock
Risk-based capital ratios as a percentage of action level risk-based capital	175.00%
Percentage by which consolidated shareholders' equity should increase or decrease to avoid restriction on dividends	20.00%
Maximum \| Noncumulative Perpetual Preferred Stock
Preferred stock
Additional members of the board of directors \| director	2
Preferred stock, redemption price (in dollars per share) \| $ / shares	$ 25,500
Minimum
Preferred stock
Collective risk-based capital ratios of subsidiaries as a percentage of net written premiums of insurance business	80.00%
Percentage of decline in consolidated shareholders' equity from benchmark quarter	20.00%
Minimum \| Noncumulative Perpetual Preferred Stock
Preferred stock
Preferred stock, redemption price (in dollars per share) \| $ / shares	$ 25,000
Commercial Paper
Class of Stock [Line Items]
Commercial Paper maximum borrowing capacity				$ 750,000,000
Amount of commercial paper outstanding	$ 0	$ 0
5.100% Subordinated Debentures, due 2053
Class of Stock [Line Items]
Note stated interest rate (as a percent)	5.10%
5.100% Subordinated Debentures, due 2053 \| London Interbank Offered Rate (LIBOR)
Class of Stock [Line Items]
Interest rate spread over LIBOR (as a percent)	3.165%
5.750% Subordinated Debentures, due 2053
Class of Stock [Line Items]
Note stated interest rate (as a percent)	5.75%
5.750% Subordinated Debentures, due 2053 \| London Interbank Offered Rate (LIBOR)
Class of Stock [Line Items]
Interest rate spread over LIBOR (as a percent)	2.938%
Subordinated Debentures
Class of Stock [Line Items]
Note stated interest rate (as a percent)					7.625%
Minimum principal outstanding amount for redemption of debt in whole or in part	$ 25,000,000
Period after occurrence of certain tax and rating agency events in which redemption of debt in whole permissible	90 days
Maximum period for deferment of interest payment	5 years
6.500% Junior Subordinated Debentures, due 2067
Class of Stock [Line Items]
Note stated interest rate (as a percent)	6.50%
Debt	$ 500,000,000
6.500% Junior Subordinated Debentures, due 2067 \| London Interbank Offered Rate (LIBOR)
Class of Stock [Line Items]
Interest rate spread over LIBOR (as a percent)	2.12%
The Debentures
Class of Stock [Line Items]
Maximum period for deferment of interest payment	10 years
Reserved common stock authorized and unissued for debentures obligations (in shares) \| shares	75,000,000
7.45% Senior Notes, due 2019
Class of Stock [Line Items]
Threshold percentage of repurchase or redemption of outstanding principal debentures for non applicability of promises and covenants contained in the new RCC	10.00%
Period within which threshold percentage of outstanding principal of debentures is to be purchased for non applicability of promises and covenants contained in the new RCC	1 year
Specified period within which percentage of outstanding principal of debentures is to be purchased for non applicability of promises and covenants contained in the new RCC	10 years
7.45% Senior Notes, due 2019 \| Maximum
Class of Stock [Line Items]
Percentage of repurchase or redemption of outstanding principal debentures within specified period for non applicability of promises and covenants contained in the new RCC	25.00%

Capital Structure - Outstanding preferred stock (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	81,000	81,000
Proceeds from issuance of preferred stock, gross	$ 2,025.0	$ 2,025.0
Aggregate dividend payment	$ 105.0	$ 114.0	$ 108.0
Excess redemption price over carrying value			$ 10.0
Series A
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	0	0
Proceeds from issuance of preferred stock, gross	$ 0.0	$ 0.0
Dividend rate	5.625%
Dividends payable, amount per share (in usd per share)	$ 0	$ 0	$ 0
Aggregate dividend payment	$ 0.0	$ 0.0	$ 4.0
Series G
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	23,000	23,000
Proceeds from issuance of preferred stock, gross	$ 575.0	$ 575.0
Dividend rate	5.625%
Dividends payable, amount per share (in usd per share)	$ 1.41	$ 1.41	$ 1.41
Aggregate dividend payment	$ 32.0	$ 32.0	$ 32.0
Series H
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	46,000	46,000
Proceeds from issuance of preferred stock, gross	$ 1,150.0	$ 1,150.0
Dividend rate	5.10%
Dividends payable, amount per share (in usd per share)	$ 1.28	$ 1.28	$ 1.28
Aggregate dividend payment	$ 59.0	$ 59.0	$ 59.0
Series I
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	12,000	12,000
Proceeds from issuance of preferred stock, gross	$ 300.0	$ 300.0
Dividend rate	4.75%
Dividends payable, amount per share (in usd per share)	$ 1.19	$ 1.19	$ 1.19
Aggregate dividend payment	$ 14.0	$ 14.0	$ 13.0
National General Series
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)
Proceeds from issuance of preferred stock, gross
Dividends payable, amount per share (in usd per share)
Aggregate dividend payment	$ 0.0	$ 9.0	$ 0.0

Company Restructuring - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and related charges	$ 51	$ 170	$ 253
Employee costs
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date for active programs	29
Exit costs
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date for active programs	$ 146

Company Restructuring - Restructuring Programs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and related charges	$ 51	$ 170	$ 253
Future work environment
Restructuring Cost and Reserve [Line Items]
Expected program charges	110
Restructuring and related charges	(8)	$ (131)
Changes in estimated program costs	41
Remaining program charges	$ 12

Company Restructuring - Changes in the restructuring liability (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Restructuring Reserve
Restructuring liability as of December 31, 2021	$ 21
Expense incurred	60
Adjustments to liability	(9)
Payments and non-cash charges	(38)
Restructuring liability as of December 31, 2022	34
Employee costs
Restructuring Reserve
Restructuring liability as of December 31, 2021	14
Expense incurred	31
Adjustments to liability	(9)
Payments and non-cash charges	(9)
Restructuring liability as of December 31, 2022	27
Exit costs
Restructuring Reserve
Restructuring liability as of December 31, 2021	7
Expense incurred	29
Adjustments to liability	0
Payments and non-cash charges	(29)
Restructuring liability as of December 31, 2022	$ 7

Commitments, Guarantees and Contingent Liabilities - Florida and louisiana citizens (Details)	12 Months Ended
	Dec. 31, 2022
FL Citizens
Loss Contingencies
Assessment rate, percent of deficit or prior year premiums	2.00%
Surcharge on policies, deadline for filing prior to imposing	15 days
Emergency assessment maximum percentage of premiums subsequent years, FL OIR	0.00%
LA Citizens
Loss Contingencies
Assessment rate, percent of deficit or prior year premiums	10.00%

Commitments, Guarantees and Contingent Liabilities - California earthquake authority (Details) - California Earthquake Authority - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Loss Contingencies
CEA capital balance	$ 5,600
Proceeds of revenue bonds	1,600
CEA existing reinsurance layer	9,300
Policy holder surcharge	1,000
Current estimated maximum CEA assessment	1,700
CEA capital balance threshold	350
CEA capital balance to be restored	350
Projected aggregate claim paying capacity	$ 19,100
Share of the CEA (as a percent)		8.30%
Maximum possible assessment		$ 138

Commitments, Guarantees and Contingent Liabilities - North Carolina (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
North Carolina Joint Underwriters Association
Loss Contingencies
Plan surplus receivable	$ 5
Funds surplus in member's equity	18
North Carolina Insurance Underwriting Association
Loss Contingencies
Funds surplus in member's equity	853
Maximum possible assessment	$ 1,000
Percentage of surcharge on property insurance policy statewide to be remitted to the plan	10.00%

Commitments, Guarantees and Contingent Liabilities - Guaranty funds and Guarantees (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Minimum
Loss Contingencies
Reasonably possible additional losses	$ 0
Maximum
Loss Contingencies
Reasonably possible additional losses	135,000,000
Guaranty Funds
Loss Contingencies
Liability for insurance assessments	29,000,000	$ 17,000,000
Insurance assessments, premium tax offsets	$ 6,000,000	$ 7,000,000

Commitments, Guarantees and Contingent Liabilities - Other Proceedings (Details)	12 Months Ended
	Dec. 31, 2022 numberOfClassAction
California Putative Class Actions
Loss Contingencies
Number of class actions	2

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Refundable employee retention tax credit, CARES Act	$ 3	$ 21
Valuation allowance	34	24
Income tax paid	95	1,050	$ 1,480
Current income tax receivable	$ 677
Current income tax payable		$ 370

Income Taxes - Reconciliation of unrecognized tax benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of the change in the amount of unrecognized tax benefits
Balance – beginning of year	$ 17	$ 12	$ 70
Acquisitions	0	5	0
Decrease for settlements	0	0	(58)
Balance – end of year	$ 17	$ 17	$ 12

Income Taxes - Components of the deferred tax assets and liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets
Unearned premium reserves	$ 815	$ 742
Unrealized net capital losses	608	0
Discount on loss reserves	228	169
Research & development capitalization	219	0
Accrued compensation	128	151
Net operating loss carryover	97	88
Other postretirement benefits	15	31
Pension	10	0
Other assets	95	90
Total deferred tax assets before valuation allowance	2,215	1,271
Valuation allowance	(34)	(24)
Total deferred tax assets after valuation allowance	2,181	1,247
Deferred tax liabilities
DAC	(1,013)	(924)
Investments	(431)	(666)
Intangible assets	(147)	(219)
Unrealized net capital gains	0	(163)
Pension	0	(9)
Other liabilities	(204)	(99)
Total deferred tax liabilities	(1,795)	(2,080)
Net deferred tax assets (liabilities)	$ 386
Net deferred tax assets (liabilities)		$ (833)

Income Taxes - Components of the net operating loss carryforwards (Details) $ in Millions	Dec. 31, 2022 USD ($)
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 449
20-Year Carryforward Expires in 2025-2037
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	221
Indefinite Carryforward Period
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	228
US Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	230
US Federal \| 20-Year Carryforward Expires in 2025-2037
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	221
US Federal \| Indefinite Carryforward Period
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	9
Foreign
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	219
Foreign \| 20-Year Carryforward Expires in 2025-2037
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	0
Foreign \| Indefinite Carryforward Period
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 219

Income Taxes - Components of income tax expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Components of income tax expense (benefit)
Current	$ (36)	$ 841	$ 1,480
Deferred	(458)	448	(107)
Total income tax (benefit) expense	$ (494)	$ 1,289	$ 1,373

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Reconciliation of income tax rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Amount [Abstract]
(Loss) income before income taxes	$ (1,858)	$ 6,448	$ 6,802
Statutory federal income tax rate on income from operations	(390)	1,354	1,428
State income taxes	0	13	31
Tax credits	(55)	(42)	(24)
Tax-exempt income	(17)	(18)	(23)
Share-based payments	(22)	(18)	(30)
Other	(10)	0	(9)
Total income tax (benefit) expense	$ (494)	$ 1,289	$ 1,373
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation
Statutory federal income tax rate on income from operations	21.00%	21.00%	21.00%
State income taxes	0.00%	0.20%	0.40%
Tax credits	3.00%	(0.60%)	(0.40%)
Tax-exempt income	0.90%	(0.30%)	(0.30%)
Share-based payments	1.20%	(0.30%)	(0.40%)
Other	0.50%	0.00%	(0.10%)
Effective income tax rate on income from operations	26.60%	20.00%	20.20%

Statutory Financial Information and Dividend Limitations - Allstates domestic insurance subsidiaries (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amount per statutory accounting practices
Net income (loss)	$ (1,583)	$ 7,713	$ 6,246
Capital and surplus	15,276	21,508
Life and annuity business sold \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Amount per statutory accounting practices
Net income (loss)	0	1,642	(81)
Capital and surplus	0	0
Property and casualty insurance
Amount per statutory accounting practices
Net income (loss)	(1,653)	5,975	6,232
Capital and surplus	14,997	21,186
Life, accident and health insurance
Amount per statutory accounting practices
Net income (loss)	70	96	$ 95
Capital and surplus	$ 279	$ 322

Statutory Financial Information and Dividend Limitations - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Dividend Limitations
Action level RBC expressed as a multiplier of authorized control level RBC, which if not achieved would require specific actions to be taken	2
Capital and surplus	$ 15,276	$ 21,508
Restricted net assets	19,610
Allstate Insurance Company
Dividend Limitations
Dividends paid	4,200
Maximum amount of dividends without prior approval	$ 1,220
Advance notice period required for payment of dividend in excess of amount available for distribution without prior approval	30 days
Unassigned surplus excluding unrealized appreciation from investments	$ 7,450
Capital and surplus	12,240
Authorized control level RBC	$ 2,960

Benefit Plans - Obligations and funded status narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Maximum annual medical cost inflation after retirement for Company's share of retiree medical benefits cost for non Medicare-eligible retirees (as a percent)	5.00%
Pension benefits
Components of net periodic cost
Accumulated benefit obligation (ABO)	$ 4,420	$ 6,360
Company's Pension Plans with an ABO in excess of plan assets
Company's pension plans with ABO in excess of plan assets, aggregate projected benefit obligation	84	123
Company's pension plans with ABO in excess of plan assets, aggregate accumulated benefit obligation	83	121
Company's pension plans with ABO in excess of plan assets, aggregate fair value of plan assets	0	0
Defined benefit plans' accrued benefit costs related to certain unfunded and non-qualified plans	$ 84	$ 123
Postretirement benefits
Defined benefit plan, assumed health care cost trend rates
Weighted average health care cost trend rate	6.80%
Ultimate health care cost trend rate in 2038 and thereafter	4.50%

Benefit Plans - Changes in benefit obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in benefit obligation
Service cost	$ 102	$ 104	$ 108
Interest cost	229	199	221
Pension benefits
Change in benefit obligation
Benefit obligation, beginning of year	6,500	7,763
Service cost	101	103	104
Interest cost	219	191	210
Participant contributions	0	0
Remeasurement of projected benefit obligation (gains) losses	(1,382)	(309)
Benefits paid	(894)	(1,242)
Translation adjustment and other	(33)	(6)
Benefit obligation, end of year	4,511	6,500	7,763
Change in plan assets
Fair value of plan assets, beginning of year	6,525	6,987
Actual return on plan assets	(1,189)	764
Employer contribution	24	22
Benefits paid	(894)	(1,242)
Translation adjustment and other	(36)	(6)
Fair value of plan assets, end of year	4,430	6,525	6,987
Funded status	(81)	25
Prior service credit	0
Unamortized pension and other postretirement prior service credit	0	(28)
Postretirement benefits
Change in benefit obligation
Benefit obligation, beginning of year	284	318
Service cost	1	1	4
Interest cost	10	8	11
Participant contributions	16	16
Remeasurement of projected benefit obligation (gains) losses	(62)	(16)
Benefits paid	(42)	(43)
Translation adjustment and other	(4)	0
Benefit obligation, end of year	203	284	$ 318
Change in plan assets
Fair value of plan assets, beginning of year
Employer contribution	26	27
Fair value of plan assets, end of year
Funded status	(203)	(284)
Prior service credit	(39)
Unamortized pension and other postretirement prior service credit	$ (39)	$ (65)

Benefit Plans - Changes not yet recognized (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Pension benefits
Change in items not yet recognized as a component of defined benefit plans, net periodic cost
Items not yet recognized as a component of net cost – December 31, 2021	$ (28)
Prior service credit amortized to net cost	28
Translation adjustment and other	0
Items not yet recognized as a component of net cost – December 31, 2022	0
Postretirement benefits
Change in items not yet recognized as a component of defined benefit plans, net periodic cost
Items not yet recognized as a component of net cost – December 31, 2021	(65)
Prior service credit amortized to net cost	25
Translation adjustment and other	1
Items not yet recognized as a component of net cost – December 31, 2022	$ (39)

Benefit Plans - Components of net periodic cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Components of net periodic cost
Service cost	$ 102	$ 104	$ 108
Interest cost	229	199	221
Expected return on plan assets	(371)	(445)	(414)
Amortization of prior service credit	(52)	(75)	(64)
Curtailment losses (gains)	0	0	2
Costs and expenses	(92)	(217)	(147)
Remeasurement of projected benefit obligation	(1,444)	(325)	835
Remeasurement of plan assets	1,560	(319)	(886)
Remeasurement (gains) losses	116	(644)	(51)
Total net (benefit) cost	$ 24	$ (861)	$ (198)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Policyholder Benefits and Claims Incurred, Net, Property, Casualty and Liability, Net investment income, Operating costs and expenses, Restructuring and related charges	Policyholder Benefits and Claims Incurred, Net, Property, Casualty and Liability, Net investment income, Operating costs and expenses, Restructuring and related charges	Policyholder Benefits and Claims Incurred, Net, Property, Casualty and Liability, Net investment income, Operating costs and expenses, Restructuring and related charges
Pension benefits
Components of net periodic cost
Service cost	$ 101	$ 103	$ 104
Interest cost	219	191	210
Expected return on plan assets	(371)	(445)	(414)
Amortization of prior service credit	(27)	(50)	(54)
Curtailment losses (gains)	0	0	10
Costs and expenses	(78)	(201)	(144)
Remeasurement of projected benefit obligation	(1,382)	(309)	813
Remeasurement of plan assets	1,560	(319)	(886)
Remeasurement (gains) losses	178	(628)	(73)
Total net (benefit) cost	100	(829)	(217)
Postretirement benefits
Components of net periodic cost
Service cost	1	1	4
Interest cost	10	8	11
Expected return on plan assets	0	0	0
Amortization of prior service credit	(25)	(25)	(10)
Curtailment losses (gains)	0	0	(8)
Costs and expenses	(14)	(16)	(3)
Remeasurement of projected benefit obligation	(62)	(16)	22
Remeasurement of plan assets	0	0	0
Remeasurement (gains) losses	(62)	(16)	22
Total net (benefit) cost	$ (76)	$ (32)	$ 19

Benefit Plans - Weighted average assumptions used (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension benefits
Weighted average assumptions used to determine net pension cost and net postretirement benefit cost
Discount rate	4.27%	2.84%	3.00%
Expected long-term rate of return on plan assets	7.06%	7.06%	7.08%
Cash balance interest credit rate	2.74%	2.04%	1.65%
Weighted average assumptions used to determine benefit obligations
Discount rate	5.64%	2.93%
Cash balance interest credit rate	3.97%	1.90%
Postretirement benefits
Weighted average assumptions used to determine net pension cost and net postretirement benefit cost
Discount rate	4.24%	2.75%	2.99%
Weighted average assumptions used to determine benefit obligations
Discount rate	5.58%	2.86%

Benefit Plans - Weighted average target allocation and actual percentage (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Mutual funds
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Target asset allocation	0.00%	3.00%
Pension benefits
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Actual percentage of plan assets	100.00%	100.00%
Fair value of plan assets	$ 4,430	$ 6,525	$ 6,987
Pension benefits \| Equity securities
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Actual percentage of plan assets	27.00%	55.00%
Pension benefits \| Equity securities \| Minimum
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Target asset allocation	22.00%
Pension benefits \| Equity securities \| Maximum
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Target asset allocation	36.00%
Pension benefits \| Fixed income securities
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Actual percentage of plan assets	49.00%	30.00%
Pension benefits \| Fixed income securities \| Minimum
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Target asset allocation	43.00%
Pension benefits \| Fixed income securities \| Maximum
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Target asset allocation	54.00%
Pension benefits \| Limited partnership interests
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Actual percentage of plan assets	21.00%	14.00%
Pension benefits \| Limited partnership interests \| Minimum
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Target asset allocation	1.00%
Pension benefits \| Limited partnership interests \| Maximum
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Target asset allocation	24.00%
Pension benefits \| Short-term investments and other
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Target asset allocation	0.00%
Actual percentage of plan assets	3.00%	1.00%
Pension benefits \| Securities pledged as collateral
Pension plans' weighted average target percentage of plan assets and the actual percentage of plan assets
Fair value of plan assets	$ 297	$ 121

Benefit Plans - Pension plan assets narrative (Details)	12 Months Ended
Benefit Plans - Pension plan assets narrative (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension plans' assets
Expected weighted average long-term rate of return on primary employee plan assets for the next fiscal year	10 years
Expected weighted average long-term rate of return on employee-agent plan assets for the next fiscal year	5 years
Pension benefits
Pension plans' assets
Notional amount of derivatives, minimum percentage of plan assets	115.00%
Expected weighted average long-term rate of return on plan assets	7.06%	7.06%	7.08%
Expected weighted average long-term rate of return on plan assets for the next fiscal year	7.35%
Arithmetic average of the annual actual return on plan assets for the last 10 years	8.40%
Arithmetic average of the annual actual return on plan assets for the last 5 years	6.90%

Benefit Plans - Fair Value of pension plan assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Free-standing derivatives liabilities \| Quoted prices in active markets for identical assets (Level 1)
Components of net periodic cost
Total plan assets at fair value		$ 0
Free-standing derivatives liabilities \| Significant other observable inputs (Level 2)
Components of net periodic cost
Total plan assets at fair value		(3)
Free-standing derivatives liabilities \| Significant unobservable inputs (Level 3)
Components of net periodic cost
Total plan assets at fair value		0
Pension benefits
Components of net periodic cost
Total plan assets at fair value	$ 2,732	$ 2,520
Total plan assets at fair value, allocation (as a percent)	100.00%	100.00%
Investments measured using the net asset value practical expedient	$ 1,975	$ 4,109
Securities lending obligation	(296)	(121)
Derivatives counterparty and cash collateral netting	2	(3)
Other net plan assets	17	20
Total reported plan assets	4,430	6,525	$ 6,987
Pension benefits \| Quoted prices in active markets for identical assets (Level 1)
Components of net periodic cost
Total plan assets at fair value	$ 779	$ 506
Total plan assets at fair value, allocation (as a percent)	28.50%	20.10%
Pension benefits \| Significant other observable inputs (Level 2)
Components of net periodic cost
Total plan assets at fair value	$ 1,953	$ 2,012
Total plan assets at fair value, allocation (as a percent)	71.50%	79.80%
Pension benefits \| Significant unobservable inputs (Level 3)
Components of net periodic cost
Total plan assets at fair value	$ 0	$ 2
Total plan assets at fair value, allocation (as a percent)	0.00%	0.10%
Total reported plan assets	$ 0	$ 2	2	$ 0
Pension benefits \| Equity securities
Components of net periodic cost
Total plan assets at fair value	145	357
Pension benefits \| Equity securities \| Quoted prices in active markets for identical assets (Level 1)
Components of net periodic cost
Total plan assets at fair value	120	311
Pension benefits \| Equity securities \| Significant other observable inputs (Level 2)
Components of net periodic cost
Total plan assets at fair value	25	44
Pension benefits \| Equity securities \| Significant unobservable inputs (Level 3)
Components of net periodic cost
Total plan assets at fair value	0	2
Total reported plan assets	0	2	0
Pension benefits \| Government bonds
Components of net periodic cost
Total plan assets at fair value	1,392	1,264
Pension benefits \| Government bonds \| Quoted prices in active markets for identical assets (Level 1)
Components of net periodic cost
Total plan assets at fair value	496	58
Pension benefits \| Government bonds \| Significant other observable inputs (Level 2)
Components of net periodic cost
Total plan assets at fair value	896	1,206
Pension benefits \| Government bonds \| Significant unobservable inputs (Level 3)
Components of net periodic cost
Total plan assets at fair value	0	0
Pension benefits \| Corporate bonds
Components of net periodic cost
Total plan assets at fair value	757	696
Pension benefits \| Corporate bonds \| Quoted prices in active markets for identical assets (Level 1)
Components of net periodic cost
Total plan assets at fair value	0	0
Pension benefits \| Corporate bonds \| Significant other observable inputs (Level 2)
Components of net periodic cost
Total plan assets at fair value	757	696
Pension benefits \| Corporate bonds \| Significant unobservable inputs (Level 3)
Components of net periodic cost
Total plan assets at fair value	0	0
Total reported plan assets		0	$ 2	$ 0
Pension benefits \| Short-term investments
Components of net periodic cost
Total plan assets at fair value	442	200
Pension benefits \| Short-term investments \| Quoted prices in active markets for identical assets (Level 1)
Components of net periodic cost
Total plan assets at fair value	163	135
Pension benefits \| Short-term investments \| Significant other observable inputs (Level 2)
Components of net periodic cost
Total plan assets at fair value	279	65
Pension benefits \| Short-term investments \| Significant unobservable inputs (Level 3)
Components of net periodic cost
Total plan assets at fair value	0	0
Pension benefits \| Free-standing derivatives assets
Components of net periodic cost
Total plan assets at fair value	1	4
Pension benefits \| Free-standing derivatives assets \| Quoted prices in active markets for identical assets (Level 1)
Components of net periodic cost
Total plan assets at fair value	0	0
Pension benefits \| Free-standing derivatives assets \| Significant other observable inputs (Level 2)
Components of net periodic cost
Total plan assets at fair value	1	4
Pension benefits \| Free-standing derivatives assets \| Significant unobservable inputs (Level 3)
Components of net periodic cost
Total plan assets at fair value	0	0
Pension benefits \| Free-standing derivatives liabilities
Components of net periodic cost
Total plan assets at fair value	(6)	(3)
Pension benefits \| Free-standing derivatives liabilities \| Quoted prices in active markets for identical assets (Level 1)
Components of net periodic cost
Total plan assets at fair value	(1)
Pension benefits \| Free-standing derivatives liabilities \| Significant other observable inputs (Level 2)
Components of net periodic cost
Total plan assets at fair value	(5)
Pension benefits \| Free-standing derivatives liabilities \| Significant unobservable inputs (Level 3)
Components of net periodic cost
Total plan assets at fair value	0
Pension benefits \| Free-standing derivatives other assets
Components of net periodic cost
Total plan assets at fair value	1	2
Pension benefits \| Free-standing derivatives other assets \| Quoted prices in active markets for identical assets (Level 1)
Components of net periodic cost
Total plan assets at fair value	1	2
Pension benefits \| Free-standing derivatives other assets \| Significant other observable inputs (Level 2)
Components of net periodic cost
Total plan assets at fair value	0	0
Pension benefits \| Free-standing derivatives other assets \| Significant unobservable inputs (Level 3)
Components of net periodic cost
Total plan assets at fair value	$ 0	$ 0

Benefit Plans - Rollforward of level 3 plan assets (Details) - Pension benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in plan assets
Fair value of plan assets, beginning of year	$ 6,525	$ 6,987
Fair value of plan assets, end of year	4,430	6,525	$ 6,987
Significant unobservable inputs (Level 3)
Change in plan assets
Fair value of plan assets, beginning of year	2	2	0
Relating to assets sold during the period	0	0	0
Relating to assets still held at the reporting date	0	0	0
Purchases, sales and settlements, net	0	0	2
Net transfers in (out) of Level 3	(2)	0	0
Fair value of plan assets, end of year	0	2	2
Significant unobservable inputs (Level 3) \| Equity securities
Change in plan assets
Fair value of plan assets, beginning of year	2	0
Relating to assets sold during the period	0	0
Relating to assets still held at the reporting date	0	0
Purchases, sales and settlements, net	0	2
Net transfers in (out) of Level 3	(2)	0
Fair value of plan assets, end of year	0	2	0
Significant unobservable inputs (Level 3) \| Corporate
Change in plan assets
Fair value of plan assets, beginning of year	$ 0	2	0
Relating to assets sold during the period		0	0
Relating to assets still held at the reporting date		0	0
Purchases, sales and settlements, net		(2)	2
Net transfers in (out) of Level 3		0	0
Fair value of plan assets, end of year		$ 0	$ 2

Benefit Plans - Cash flows narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Pension benefits
Components of net periodic cost
Defined benefit pension plans, estimated employer contributions in next fiscal year	$ 19
Employer contribution	24	$ 22
Postretirement benefits
Components of net periodic cost
Defined benefit pension plans, estimated employer contributions in next fiscal year	0
Employer contribution	26	27
Participant contributions	$ 16	$ 16

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Benefit Plans - Estimated future benefit payments (Details) $ in Millions	Dec. 31, 2022 USD ($)
Pension benefits
Estimated future benefit payments
2023	$ 505
2024	485
2025	470
2026	468
2027	463
2028-2032	1,778
Total benefit payments	4,169
Postretirement benefits
Estimated future benefit payments
2023	25
2024	26
2025	25
2026	23
2027	21
2028-2032	69
Total benefit payments	$ 189

Benefit Plans - Allstate 401(k) savings plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Company's contribution to the Allstate Plan	$ 131	$ 110	$ 103
Defined contribution plan expense for eligible employees of Canadian insurance subsidiaries and Sterling	$ 9	$ 9	$ 13

Equity Incentive Plans - Equity Awards (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity Incentive Plans [Abstract]
Compensation expense	$ 93	$ 120	$ 124
Income tax benefits	16	18	18
Cash received from exercise of options	130	151	111
Tax benefit realized on options exercised and release of stock restrictions	$ 44	$ 37	$ 53

Equity Incentive Plans- Nonvested awards (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Equity Incentive Plans
Unrecognized compensation	$ 83
Nonqualified stock options
Equity Incentive Plans
Unrecognized compensation	$ 16
Weighted average vesting period	1 year 7 months 28 days
Restricted stock units
Equity Incentive Plans
Unrecognized compensation	$ 47
Weighted average vesting period	1 year 10 months 24 days
Performance stock awards
Equity Incentive Plans
Unrecognized compensation	$ 20
Weighted average vesting period	1 year 6 months 18 days

Equity Incentive Plans - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity Incentive Plans
Common stock authorized for stock-based awards (in shares)	110.8
Common stock reserved for further issuance (in shares)	14.2
Stock options
Equity Incentive Plans
Vesting period of options granted	3 years
Expiration term for options	10 years
Weighted average grant date fair value of options granted (in dollars per share)	$ 21.16	$ 15.61	$ 18.17
Intrinsic value of options exercised	$ 107	$ 112	$ 119
Risk-free rate, high end of the range (as a percent)	4.80%	1.70%	1.80%
Weighted average volatility (as a percent)	23.20%	23.00%	17.60%
Weighted average expected term	5 years 10 months 24 days	7 years 6 months	6 years 1 month 6 days
Restricted stock units
Equity Incentive Plans
Weighted average grant date fair value, granted (in dollars per share)	$ 123.98	$ 108.99	$ 118.61
Total fair value of restricted stock and restricted stock units vested	$ 59	$ 35	$ 32
Performance stock awards
Equity Incentive Plans
Weighted average grant date fair value, granted (in dollars per share)	$ 123.08	$ 107.14	$ 123.48
Total fair value of restricted stock and restricted stock units vested	$ 87	$ 70	$ 101
Risk-free rate, high end of the range (as a percent)	1.70%
Expected volatility rate (as a percent)	30.40%
Weighted average volatility (as a percent)	34.20%
Weighted average expected term	2 years 10 months 24 days

Equity Incentive Plans - Option grant assumptions (Details) - Stock options	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assumptions used to determine fair value of options granted
Weighted average expected term	5 years 10 months 24 days	7 years 6 months	6 years 1 month 6 days
Expected volatility, low end of the range (as a percent)	19.80%	16.50%	16.30%
Expected volatility, high end of the range (as a percent)	29.90%	28.80%	37.10%
Weighted average volatility (as a percent)	23.20%	23.00%	17.60%
Expected dividends, minimum range (as a percent)	2.50%	2.00%	1.60%
Expected dividends, maximum range (as a percent)	3.00%	3.00%	2.40%
Weighted average expected dividends (as a percent)	2.80%	3.10%	1.80%
Risk-free rate, low end of the range (as a percent)	0.00%	0.00%	0.10%
Risk-free rate, high end of the range (as a percent)	4.80%	1.70%	1.80%

Equity Incentive Plans - Summary of option activity (Details) - Stock options $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Stock option activity
Outstanding at the beginning of the period (in shares) \| shares	9,854
Granted (in shares) \| shares	1,343
Exercised (in shares) \| shares	(1,927)
Forfeited (in shares) \| shares	(303)
Expired (in shares) \| shares	(14)
Outstanding at the end of the period (in shares) \| shares	8,953
Outstanding, net of expected forfeitures (in shares) \| shares	8,906
Outstanding, exercisable ("vested") (in shares) \| shares	6,472
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at the beginning of the period (in dollars per share) \| $ / shares	$ 88,840,000
Granted (in dollars per share) \| $ / shares	123.04
Exercised (in dollars per share) \| $ / shares	76.28
Forfeited (in dollars per share) \| $ / shares	116.09
Expired (in dollars per share) \| $ / shares	109.26
Outstanding at the end of the period (in dollars per share) \| $ / shares	95.72
Outstanding, net of expected forfeitures (in dollars per share) \| $ / shares	95.60
Outstanding, exercisable ("vested") (in dollars per share) \| $ / shares	$ 87.73
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Aggregate intrinsic value, Outstanding \| $	$ 357,082
Aggregate intrinsic value, net of expected forfeitures, outstanding \| $	356,277
Aggregate intrinsic value, exercisable ("vested"), outstanding \| $	$ 309,840
Weighted average remaining contractual term, Outstanding	5 years 6 months
Weighted average remaining contractual term, net of expected forfeitures, outstanding	5 years 4 months 24 days
Weighted average remaining contractual term, exercisable ("vested"), outstanding	4 years 6 months

Equity Incentive Plans - Changes in restricted stock units (Details) - Restricted stock units - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock units activity
Outstanding at the beginning of the period (in shares)	1,038
Granted (in shares)	447
Vested (in shares)	(465)
Forfeited (in shares)	(91)
Outstanding at the end of the period (in shares)	929	1,038
Weighted average grant date fair value
Weighted average grant date fair value, nonvested at the beginning of the period (in dollars per share)	$ 101.98
Weighted average grant date fair value, granted (in dollars per share)	123.98	$ 108.99	$ 118.61
Weighted average grant date fair value, vested (in dollars per share)	103.53
Weighted average grant date fair value, forfeited (in dollars per share)	112.74
Weighted average grant date fair value, nonvested at the end of the period (in dollars per share)	$ 110.75	$ 101.98

Equity Incentive Plans - Changes in performance stock awards (Details) - Performance stock awards - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock units activity
Outstanding at the beginning of the period (in shares)	974
Granted (in shares)	270
Adjustment for performance achievement (in shares)	336
Vested (in shares)	(694)
Forfeited (in shares)	(90)
Outstanding at the end of the period (in shares)	796	974
Weighted average grant date fair value
Weighted average grant date fair value, nonvested at the beginning of the period (in dollars per share)	$ 105.92
Weighted average grant date fair value, granted (in dollars per share)	123.08	$ 107.14	$ 123.48
Weighted average grant date fair value, adjustment for performance achievement (in dollars per share)	92.46
Weighted average grant date fair value, vested (in dollars per share)	93.04
Weighted average grant date fair value, forfeited (in dollars per share)	114.02
Weighted average grant date fair value, nonvested at the end of the period (in dollars per share)	$ 116.36	$ 105.92

Supplemental Cash Flow Information - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Information [Abstract]
Transfer from investments	$ 185	$ 51	$ 55
Non-cash investing activities	37
Non-cash financing activities related to the issuance of shares for vested restricted stock units	65	53	56
Operating lease, payments	163	181	156
Right-of-use asset obtained in exchange for operating lease liability	$ 26	$ 98	$ 51

Supplemental Cash Flow Information - Net change (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net change in proceeds managed
Net change in fixed income securities	$ (521)	$ 0	$ 0
Net change in short-term investments	(49)	(539)	396
Operating cash flow (used) provided	(570)	(539)	396
Net change in cash	3	9	(12)
Net change in proceeds managed	(567)	(530)	384
Net change in liabilities
Liabilities for collateral, beginning of year	(1,444)	(914)	(1,298)
Liabilities for collateral, end of year	(2,011)	(1,444)	(914)
Operating cash flow provided (used)	$ 567	$ 530	$ (384)

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pre-tax
Other comprehensive (loss) income	$ (3,866)	$ (3,360)	$ 1,720
Tax
Other comprehensive (loss) income	822	711	(366)
After-tax
Other comprehensive (loss) income, after-tax	(3,044)	(2,649)	1,354
Discontinued Operations, Held-for-sale
After-tax
Total investments		32,055
Unrealized net capital gains and losses
Pre-tax
Unrealized net holding gains and losses arising during the period, net of related offsets	(4,470)	(2,839)	2,512
Less: reclassification adjustment of net gains and losses on investments and derivatives	(848)	436	870
Other comprehensive (loss) income	(3,622)	(3,275)	1,642
Tax
Unrealized net holding gains and losses arising during the period, net of related offsets	949	601	(532)
Less: reclassification adjustment of net gains and losses on investments and derivatives	178	(92)	(183)
Other comprehensive (loss) income	771	693	(349)
After-tax
Unrealized net holding gains and losses arising during the period, net of related offsets	(3,521)	(2,238)	1,980
Less: reclassification adjustment of net gains and losses on investments and derivatives	(670)	344	687
Other comprehensive (loss) income, after-tax	(2,851)	(2,582)	1,293
Unrealized net capital gains and losses \| Discontinued Operations, Held-for-sale
After-tax
Total investments		2,400
Unrealized foreign currency translation adjustments
Pre-tax
Other comprehensive (loss) income	(190)	(10)	66
Tax
Other comprehensive (loss) income	40	2	(14)
After-tax
Other comprehensive (loss) income, after-tax	(150)	(8)	52
Unamortized pension and other postretirement prior service credit
Pre-tax
Other comprehensive (loss) income	(54)	(75)	12
Tax
Other comprehensive (loss) income	11	16	(3)
After-tax
Other comprehensive (loss) income, after-tax	$ (43)	$ (59)	$ 9

Quarterly Results (unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 13,647	$ 13,208	$ 12,220	$ 12,337	$ 13,011	$ 12,480	$ 12,646	$ 12,451	$ 51,412	$ 50,588	$ 41,909
Net income (loss) from continuing operations applicable to common shareholders	(310)	(694)	(1,042)	630	1,111	183	1,399	2,385	(1,416)	5,078	5,314
Income (loss) from discontinued operations, net of tax	0	0	0	0	(321)	325	196	(3,793)	0	(3,593)	147
Net income (loss) applicable to common shareholders	$ (310)	$ (694)	$ (1,042)	$ 630	$ 790	$ 508	$ 1,595	$ (1,408)	$ (1,416)	$ 1,485	$ 5,461
Basic
Continuing operations (in dollars per share)	$ (1.17)	$ (2.58)	$ (3.81)	$ 2.27	$ 3.90	$ 0.62	$ 4.68	$ 7.88	$ (5.22)	$ 17.23	$ 17.06
Discontinued operations (in dollars per share)	0	0	0	0	(1.13)	1.11	0.66	(12.53)	0	(12.19)	0.47
Basic, Total (in dollars per share)	(1.17)	(2.58)	(3.81)	2.27	2.77	1.73	5.34	(4.65)	(5.22)	5.04	17.53
Diluted
Continuing operations (in dollars per share)	(1.17)	(2.58)	(3.81)	2.24	3.84	0.62	4.61	7.78	(5.22)	16.98	16.84
Discontinued operations (in dollars per share)	0	0	0	0	(1.11)	1.09	0.65	(12.38)	0	(12.02)	0.47
Diluted, Total (in dollars per share)	$ (1.17)	$ (2.58)	$ (3.81)	$ 2.24	$ 2.73	$ 1.71	$ 5.26	$ (4.60)	$ (5.22)	$ 4.96	$ 17.31

Schedule I — Summary of Investments Other than Investments in Related Parties (Details) $ in Millions	Dec. 31, 2022 USD ($)
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	$ 64,401
Amount shown in the Balance Sheet	61,829
United States government, government agencies and authorities
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	8,123
Fair value (if applicable)	7,898
Amount shown in the Balance Sheet	7,898
States, municipalities and political subdivisions
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	6,500
Fair value (if applicable)	6,210
Amount shown in the Balance Sheet	6,210
Foreign governments
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	997
Fair value (if applicable)	957
Amount shown in the Balance Sheet	957
Public utilities
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	2,633
Fair value (if applicable)	2,437
Amount shown in the Balance Sheet	2,437
All other corporate bonds
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	25,929
Fair value (if applicable)	23,826
Amount shown in the Balance Sheet	23,826
Asset-backed securities
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	1,188
Fair value (if applicable)	1,157
Amount shown in the Balance Sheet	1,157
Total fixed maturities
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	45,370
Fair value (if applicable)	42,485
Amount shown in the Balance Sheet	42,485
Public utilities
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	48
Fair value (if applicable)	60
Amount shown in the Balance Sheet	60
Banks, trusts and insurance companies
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	260
Fair value (if applicable)	340
Amount shown in the Balance Sheet	340
Industrial, miscellaneous and all other
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	3,753
Fair value (if applicable)	3,938
Amount shown in the Balance Sheet	3,938
Nonredeemable preferred stocks
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	192
Fair value (if applicable)	229
Amount shown in the Balance Sheet	229
Total equity securities
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	4,253
Fair value (if applicable)	4,567
Amount shown in the Balance Sheet	4,567
Mortgage loans on real estate
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	762
Fair value (if applicable)	700
Amount shown in the Balance Sheet	762
Real estate (none acquired in satisfaction of debt)
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	813
Amount shown in the Balance Sheet	813
Policy loans
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	120
Amount shown in the Balance Sheet	120
Derivative instruments
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	1
Fair value (if applicable)	1
Amount shown in the Balance Sheet	1
Limited partnership interests
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	8,114
Amount shown in the Balance Sheet	8,114
Other long-term investments
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	794
Amount shown in the Balance Sheet	794
Short-term investments
Summary of Investments Other Than Investments in Related Parties
Cost/amortized cost, net	4,174
Fair value (if applicable)	4,173
Amount shown in the Balance Sheet	$ 4,173

Schedule II - Condensed Financial Information of Registrant - Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Investment income, less investment expense									$ 2,403	$ 3,293	$ 1,590
Net gains (losses) on investments and derivatives									(1,072)	1,279	1,356
Total revenues	$ 13,647	$ 13,208	$ 12,220	$ 12,337	$ 13,011	$ 12,480	$ 12,646	$ 12,451	51,412	50,588	41,909
Expenses
Interest expense									335	330	318
Pension and other postretirement remeasurement (gains) losses									116	(644)	(51)
Other operating expenses									7,446	7,260	5,494
Total costs and expenses									53,270	44,140	35,107
Income tax (benefit) expense									(494)	1,289	1,373
Net (loss) income attributable to Allstate									(1,311)	1,599	5,576
Preferred stock dividends									105	114	115
Net (loss) income applicable to common shareholders	$ (310)	$ (694)	$ (1,042)	$ 630	$ 790	$ 508	$ 1,595	$ (1,408)	(1,416)	1,485	5,461
Other comprehensive income (loss), after-tax
Unrealized net capital gains and losses									(2,851)	(2,582)	1,293
Unrealized foreign currency translation adjustments									(150)	(8)	52
Unamortized pension and other postretirement prior service credit									(43)	(59)	9
Comprehensive (loss) income attributable to Allstate									(4,335)	(1,047)	6,930
Allstate Corporation
Revenues
Investment income, less investment expense									59	13	12
Net gains (losses) on investments and derivatives									(34)	12	33
Total revenues									25	25	45
Expenses
Interest expense									351	328	328
Pension and other postretirement remeasurement (gains) losses									179	(611)	(73)
Pension and other postretirement (benefit) expense									(98)	(218)	(168)
Other operating expenses									56	71	73
Total costs and expenses									488	(430)	160
(Loss) gain from operations before income tax benefit and equity in net income of subsidiaries									(463)	455	(115)
Income tax (benefit) expense									(103)	93	(26)
(Loss) gain before equity in net income of subsidiaries									(360)	362	(89)
Equity in net income of subsidiaries									(951)	1,237	5,665
Net (loss) income attributable to Allstate									(1,311)	1,599	5,576
Preferred stock dividends									105	114	115
Net (loss) income applicable to common shareholders									(1,416)	1,485	5,461
Other comprehensive income (loss), after-tax
Unrealized net capital gains and losses									(2,851)	(2,582)	1,293
Unrealized foreign currency translation adjustments									(150)	(8)	52
Unamortized pension and other postretirement prior service credit									(43)	(59)	9
Other comprehensive (loss) income, after-tax									(3,044)	(2,649)	1,354
Comprehensive (loss) income attributable to Allstate									$ (4,355)	$ (1,050)	$ 6,930

Schedule II - Condensed Financial Information of Registrant - Financial Position (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Fixed income securities	$ 42,485	$ 42,136
Short-term investments	4,173	4,009
Cash	736	763
Total assets	97,957	99,440
Liabilities
Debt	7,964	7,976
Total liabilities	80,607	74,313
Shareholders’ equity
Preferred stock and additional capital paid-in, $1 par value, 25 million shares authorized, 81.0 thousand shares issued and outstanding, $2,025 aggregate liquidation preference	1,970	1,970
Common stock, $.01 par value, 2.0 billion shares authorized and 900 million issued, 263 million and 281 million shares outstanding	9	9
Additional capital paid-in	3,788	3,722
Retained income	50,954	53,294
Treasury stock, at cost (637 million and 619 million shares)	(36,857)	(34,471)
Accumulated other comprehensive income:
Unrealized net capital gains and losses	(2,253)	598
Unrealized foreign currency translation adjustments	(165)	(15)
Unamortized pension and other postretirement prior service credit	29	72
Total accumulated other comprehensive (loss) income	(2,389)	655
Total Allstate shareholders’ equity	17,475	25,179	$ 30,217
Total liabilities and equity	97,957	99,440
Additional balance sheet disclosures:
Amortized cost, net	45,370	41,376
Other short term Investments, amortized cost	$ 4,174	$ 4,009
Preferred stock, par or stated value per share (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	81,000	81,000
Preferred stock, shares outstanding (in shares)	81,000	81,000
Preferred Stock, liquidation preference	$ 2,025	$ 2,025
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares, issued (in shares)	900,000,000	900,000,000
Common stock, shares, outstanding (in shares)	263,000,000	281,000,000
Treasury stock, shares (in shares)	637,000,000	619,000,000
Allstate Corporation
Assets
Investment in subsidiaries	$ 23,698	$ 32,058
Fixed income securities	2,422	1,718
Short-term investments	291	297
Cash	0	1
Receivable from subsidiaries	341	504
Deferred income taxes	59	22
Other assets	108	222
Total assets	26,919	34,822
Liabilities
Debt	7,588	7,581
Pension and other postretirement benefit obligations	180	211
Deferred compensation	320	383
Notes due to subsidiaries	1,000	1,000
Dividends payable to shareholders	260	269
Other liabilities	96	199
Total liabilities	9,444	9,643
Shareholders’ equity
Preferred stock and additional capital paid-in, $1 par value, 25 million shares authorized, 81.0 thousand shares issued and outstanding, $2,025 aggregate liquidation preference	1,970	1,970
Common stock, $.01 par value, 2.0 billion shares authorized and 900 million issued, 263 million and 281 million shares outstanding	9	9
Additional capital paid-in	3,788	3,722
Retained income	50,954	53,294
Treasury stock, at cost (637 million and 619 million shares)	(36,857)	(34,471)
Accumulated other comprehensive income:
Unrealized net capital gains and losses	(2,253)	598
Unrealized foreign currency translation adjustments	(165)	(15)
Unamortized pension and other postretirement prior service credit	29	72
Total accumulated other comprehensive (loss) income	(2,389)	655
Total Allstate shareholders’ equity	17,475	25,179
Total liabilities and equity	26,919	34,822
Additional balance sheet disclosures:
Amortized cost, net	2,513	1,708
Other short term Investments, amortized cost	$ 291	$ 297
Preferred stock, par or stated value per share (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	81,000	81,000
Preferred stock, shares outstanding (in shares)	81,000	81,000
Preferred Stock, liquidation preference	$ 2,025	$ 2,025
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares, issued (in shares)	900,000,000	900,000,000
Common stock, shares, outstanding (in shares)	263,000,000	281,000,000
Treasury stock, shares (in shares)	637,000,000	619,000,000

Schedule II - Condensed Financial Information of Registrant - Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net (loss) income	$ (1,311)	$ 1,599	$ 5,576
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net (gains) losses on investments and derivatives	1,072	(1,279)	(1,356)
Pension and other postretirement remeasurement (gains) losses	116	(644)	(51)
Changes in:
Net cash provided by operating activities	5,121	5,116	5,491
Cash flows from investing activities
Change in short-term and other investments, net	792	4,017	(3,871)
Acquisition of subsidiaries	0	(3,593)	1
Net cash (used in) provided by investing activities	(1,728)	510	(3,441)
Cash flows from financing activities
Proceeds from issuance of debt	0	0	1,189
Redemption and repayment of debt	0	(436)	0
Dividends paid on common stock	(926)	(885)	(668)
Dividends paid on preferred stock	(105)	(114)	(108)
Treasury stock purchases	(2,520)	(3,120)	(1,737)
Shares reissued under equity incentive plans, net	82	114	63
Net cash used in financing activities	(3,420)	(5,240)	(2,011)
Net (decrease) increase in cash	(27)	386	39
Cash from continuing operations at beginning of period	763	311	273
Cash from continuing operations at end of period	736	763	311
Allstate Corporation
Cash flows from operating activities
Net (loss) income	(1,311)	1,599	5,576
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in net income of subsidiaries	951	(1,237)	(5,665)
Dividends received from subsidiaries	3,396	5,112	4,157
Net (gains) losses on investments and derivatives	34	(12)	(33)
Pension and other postretirement remeasurement (gains) losses	179	(611)	(73)
Changes in:
Pension and other postretirement benefits	(98)	(218)	(168)
Income taxes	(14)	177	54
Operating assets and liabilities	76	158	110
Net cash provided by operating activities	3,213	4,968	3,958
Cash flows from investing activities
Proceeds from sales of investments	2,572	1,743	1,251
Investment purchases	(2,507)	(2,673)	(402)
Investment collections	39	38	16
Capital contribution or return of capital from subsidiaries	145	383	251
Change in short-term and other investments, net	6	4,182	(3,777)
Acquisition of subsidiaries	0	(4,144)	0
Net cash (used in) provided by investing activities	255	(471)	(2,661)
Cash flows from financing activities
Proceeds from borrowings from subsidiaries	1,000	2,200	1,250
Repayment of notes due to subsidiaries	(1,000)	(2,450)	(1,000)
Proceeds from issuance of debt	0	0	1,189
Redemption of preferred stock	0	0	(288)
Redemption and repayment of debt	0	(250)	0
Dividends paid on common stock	(926)	(885)	(668)
Dividends paid on preferred stock	(105)	(105)	(108)
Treasury stock purchases	(2,520)	(3,120)	(1,737)
Shares reissued under equity incentive plans, net	82	114	63
Net cash used in financing activities	(3,469)	(4,496)	(1,299)
Net (decrease) increase in cash	(1)	1	(2)
Cash from continuing operations at beginning of period	1	0	2
Cash from continuing operations at end of period	$ 0	$ 1	$ 0

Schedule II - Condensed Financial Information of Registrant - Narrative (Details) - USD ($) $ in Millions				12 Months Ended
	Jun. 17, 2022	Jun. 18, 2021	Apr. 05, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 01, 2021	Dec. 29, 2020	Jun. 18, 2020
Condensed Financial Information of Registrant
Interest paid on debt				$ 323	$ 321	$ 311
Allstate Corporation
Condensed Financial Information of Registrant
Notes due to subsidiaries				1,000	1,000
Repayment of notes due to subsidiaries				1,000	2,450	1,000
Interest paid on debt				$ 323	$ 321	$ 311
Kennett Capital Inc \| Subsidiaries \| Allstate Corporation
Condensed Financial Information of Registrant
Notes due to subsidiaries	$ 1,000	$ 1,000					$ 200	$ 250	$ 1,000
Note stated interest rate (as a percent)	1.63%	0.20%					0.21%	0.33%	0.43%
Repayment of notes due to subsidiaries	$ 1,000	$ 1,000	$ 250
Kennett Capital Inc, Second Repayment \| Subsidiaries \| Allstate Corporation
Condensed Financial Information of Registrant
Repayment of notes due to subsidiaries			$ 200

Schedule III — Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplementary Insurance Information
Deferred policy acquisition costs	$ 5,418	$ 4,722	$ 3,774
Reserves for claims and claims expense, contract benefits and contractholder funds	39,711	35,241	29,495
Unearned premiums	22,311	19,844	15,946
Premium revenue and contract charges	47,737	44,039	38,167
Net investment income	2,403	3,293	1,590
Claims and claims expense, contract benefits and interest credited to contractholders	38,325	30,367	22,550
Amortization of deferred policy acquisition costs	6,644	6,252	5,477
Other operating costs and expenses	8,301	7,521	7,080
Premiums written (excluding life)	50,080	45,630	38,497
Intersegment Eliminations
Supplementary Insurance Information
Deferred policy acquisition costs	0	0	0
Reserves for claims and claims expense, contract benefits and contractholder funds	0	0	0
Unearned premiums	0	0	0
Premium revenue and contract charges	(149)	(175)	(147)
Net investment income	0	0	0
Claims and claims expense, contract benefits and interest credited to contractholders	0	(16)	(11)
Amortization of deferred policy acquisition costs	0	0	0
Other operating costs and expenses	(149)	(159)	(136)
Premiums written (excluding life)	0	0	0
Allstate Protection \| Operating segments
Supplementary Insurance Information
Deferred policy acquisition costs	2,146	1,951	1,608
Reserves for claims and claims expense, contract benefits and contractholder funds	35,537	31,099	25,679
Unearned premiums	17,538	15,763	12,772
Premium revenue and contract charges	43,909	40,454	35,580
Claims and claims expense, contract benefits and interest credited to contractholders	36,607	28,760	21,485
Amortization of deferred policy acquisition costs	5,570	5,313	4,642
Other operating costs and expenses	5,930	6,033	5,741
Premiums written (excluding life)	45,787	41,358	35,768
Run-off Property-Liability \| Operating segments
Supplementary Insurance Information
Deferred policy acquisition costs	0	0	0
Reserves for claims and claims expense, contract benefits and contractholder funds	1,955	1,916	1,888
Unearned premiums	0	0	0
Premium revenue and contract charges	0	0	0
Claims and claims expense, contract benefits and interest credited to contractholders	125	116	141
Amortization of deferred policy acquisition costs	0	0	0
Other operating costs and expenses	4	4	3
Premiums written (excluding life)	0	0	0
Property-Liability \| Operating segments
Supplementary Insurance Information
Deferred policy acquisition costs	2,146	1,951	1,608
Reserves for claims and claims expense, contract benefits and contractholder funds	37,492	33,015	27,567
Unearned premiums	17,538	15,763	12,772
Premium revenue and contract charges	43,909	40,454	35,580
Net investment income	2,190	3,118	1,421
Claims and claims expense, contract benefits and interest credited to contractholders	36,732	28,876	21,626
Amortization of deferred policy acquisition costs	5,570	5,313	4,642
Other operating costs and expenses	5,934	6,037	5,744
Premiums written (excluding life)	45,787	41,358	35,768
Protection Services \| Operating segments
Supplementary Insurance Information
Deferred policy acquisition costs	2,768	2,294	1,696
Reserves for claims and claims expense, contract benefits and contractholder funds	49	45	43
Unearned premiums	4,745	4,054	3,167
Premium revenue and contract charges	2,144	1,939	1,640
Net investment income	48	43	44
Claims and claims expense, contract benefits and interest credited to contractholders	532	458	386
Amortization of deferred policy acquisition costs	928	795	658
Other operating costs and expenses	952	938	760
Premiums written (excluding life)	2,699	2,642	1,890
Allstate Health and Benefits \| Operating segments
Supplementary Insurance Information
Deferred policy acquisition costs	504	477	470
Reserves for claims and claims expense, contract benefits and contractholder funds	2,170	2,181	1,885
Unearned premiums	28	27	7
Premium revenue and contract charges	1,833	1,821	1,094
Net investment income	69	74	78
Claims and claims expense, contract benefits and interest credited to contractholders	1,061	1,049	549
Amortization of deferred policy acquisition costs	146	144	177
Other operating costs and expenses	852	838	323
Premiums written (excluding life)	1,594	1,630	839
Corporate and Other \| Operating segments
Supplementary Insurance Information
Deferred policy acquisition costs	0	0	0
Reserves for claims and claims expense, contract benefits and contractholder funds	0	0	0
Unearned premiums	0	0	0
Premium revenue and contract charges	0	0	0
Net investment income	96	58	47
Claims and claims expense, contract benefits and interest credited to contractholders	0	0	0
Amortization of deferred policy acquisition costs	0	0	0
Other operating costs and expenses	712	(133)	389
Premiums written (excluding life)	$ 0	$ 0	$ 0

Schedule IV — Reinsurance (Details) - USD ($)	12 Months Ended
Schedule IV — Reinsurance (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Life insurance in force
Gross amount	$ 21,271,000,000	$ 20,535,000,000	$ 17,124,000,000
Ceded to other companies	614,000,000	640,000,000	16,528,000,000
Assumed from other companies	1,401,000,000	1,528,000,000	1,003,000,000
Net amount	$ 22,058,000,000	$ 21,423,000,000	$ 1,599,000,000
Percentage of amount assumed to net	6.40%	7.10%	62.70%
Premiums and contract charges:
Gross amount	$ 49,392,000,000	$ 45,822,000,000	$ 39,208,000,000
Ceded to other companies	1,907,000,000	1,982,000,000	1,154,000,000
Assumed from other companies	252,000,000	199,000,000	113,000,000
Net amount	$ 47,737,000,000	$ 44,039,000,000	$ 38,167,000,000
Percentage of amount assumed to net	0.50%	0.50%	0.30%
Reinsurance or coinsurance income netted against premium ceded	$ 0	$ 0	$ 0
Life insurance
Premiums and contract charges:
Gross amount	218,000,000	156,000,000	162,000,000
Ceded to other companies	7,000,000	6,000,000	8,000,000
Assumed from other companies	17,000,000	15,000,000	14,000,000
Net amount	$ 228,000,000	$ 165,000,000	$ 168,000,000
Percentage of amount assumed to net	7.50%	9.10%	8.30%
Accident and health insurance
Premiums and contract charges:
Gross amount	$ 1,622,000,000	$ 1,722,000,000	$ 931,000,000
Ceded to other companies	31,000,000	72,000,000	5,000,000
Assumed from other companies	14,000,000	6,000,000	0
Net amount	$ 1,605,000,000	$ 1,656,000,000	$ 926,000,000
Percentage of amount assumed to net	0.90%	0.40%	0.00%
Property and casualty insurance
Premiums and contract charges:
Gross amount	$ 47,552,000,000	$ 43,944,000,000	$ 38,115,000,000
Ceded to other companies	1,869,000,000	1,904,000,000	1,141,000,000
Assumed from other companies	221,000,000	178,000,000	99,000,000
Net amount	$ 45,904,000,000	$ 42,218,000,000	$ 37,073,000,000
Percentage of amount assumed to net	0.50%	0.40%	0.30%

Schedule V — Valuation Allowances and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Valuation allowances and qualifying accounts
Balance as of beginning of period	$ 280	$ 367	$ 268
Charged to costs and expenses	347	235	293
Other additions	0	19	0
Deductions	334	341	194
Balance as of end of period	293	280	367
Fixed income securities
Valuation allowances and qualifying accounts
Balance as of beginning of period	6	2	0
Charged to costs and expenses	7	4	2
Other additions	0	0	0
Deductions	0	0	0
Balance as of end of period	13	6	2
Mortgage loans
Valuation allowances and qualifying accounts
Balance as of beginning of period	6	67	45
Charged to costs and expenses	1	(61)	39
Other additions	0	0	0
Deductions	0	0	17
Balance as of end of period	7	6	67
Bank loans
Valuation allowances and qualifying accounts
Balance as of beginning of period	61	67	53
Charged to costs and expenses	26	(6)	28
Other additions	0	0	0
Deductions	30	0	14
Balance as of end of period	57	61	67
Investments
Valuation allowances and qualifying accounts
Balance as of beginning of period	73	136	98
Charged to costs and expenses	34	(63)	69
Other additions	0	0	0
Deductions	30	0	31
Balance as of end of period	77	73	136
Premium installment receivable
Valuation allowances and qualifying accounts
Balance as of beginning of period	107	153	91
Charged to costs and expenses	313	274	223
Other additions	0	19	0
Deductions	288	339	161
Balance as of end of period	132	107	153
Reinsurance recoverables
Valuation allowances and qualifying accounts
Balance as of beginning of period	74	60	61
Charged to costs and expenses	0	15	(1)
Other additions	0	0	0
Deductions	9	1	0
Balance as of end of period	65	74	60
Other assets
Valuation allowances and qualifying accounts
Balance as of beginning of period	26	17	15
Charged to costs and expenses	0	9	2
Other additions	0	0	0
Deductions	7	0	0
Balance as of end of period	19	26	17
Assets
Valuation allowances and qualifying accounts
Balance as of beginning of period	280	366	265
Charged to costs and expenses	347	235	293
Other additions	0	19	0
Deductions	334	340	192
Balance as of end of period	293	280	366
Commitments to fund mortgage loans and bank loans
Valuation allowances and qualifying accounts
Balance as of beginning of period	0	1	3
Charged to costs and expenses	0	0	0
Other additions	0	0	0
Deductions	0	1	2
Balance as of end of period	0	0	1
Liabilities
Valuation allowances and qualifying accounts
Balance as of beginning of period	0	1	3
Charged to costs and expenses	0	0	0
Other additions	0	0	0
Deductions	0	1	2
Balance as of end of period	0	0	1
Valuation allowance for deferred tax assets
Valuation allowances and qualifying accounts
Balance as of beginning of period	24	0
Charged to costs and expenses	0	0
Other additions	10	38
Deductions	0	14
Balance as of end of period	$ 34	$ 24	$ 0