Transcript

Operator

Good day, thank you for standing by. Welcome to Allstate's Second Quarter Earnings Investor Call. At this time, all participants are in listen-only mode. After the prepared remarks, there will be a question-and-answer session. To ask a question during the session, you'll need to press star one one on your telephone. If your question has been answered and you'd like to remove yourself from the queue, simply press star one one again. Please limit your inquiry to one question and one follow-up. As a reminder, please be aware that this call is being recorded. Now I'd like to introduce your host for today's program, Allister Gobin, Head of Investor Relations. Please go ahead, sir.

Allister Gobin — Head of Investor Relations

Good morning, everyone. Welcome to Allstate's second quarter 2026 earnings call. Yesterday, following the close of the market, we issued our news release and investor supplement and posted materials on our website at allstateinvestors.com. Today, our management team will discuss how Allstate is creating shareholder value. We will open up the line for your questions. As noted on the first slide of the presentation, our discussion will include non-GAAP measures for which reconciliations are provided in the news release and the investor supplement. We will make forward-looking statements about Allstate's operations. Actual results may differ materially from these statements, please refer to our 2025 10-K and other public filings for more information on potential risks. Now I'll turn it over to Tom.

Tom Wilson — Chair, President, and CEO

Good morning. Thank you for investing time at Allstate. Before we begin, I'd like to welcome Chris Lown, who joined Allstate this week as Chief Financial Officer. He's an excellent addition to the Allstate team. You can look forward to hearing from him on the next call. We're choosing not to put him in the middle of heat with two days of work. I'd also like to thank John for doing triple duty, leading Investments, Strategy, and being interim Chief Financial Officer. Let's begin on slide two. Allstate's strategy is to increase property liability market share and expand the protection we provide to customers by offering affordable, simple, and connected products through an extensive distribution network. Shareholder value is created through operational excellence, which generates attractive returns on capital, sustainable