Allstate 2015 Annual Report Download - page 116

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Underwriting results are shown in the following table.
($ in millions) 2015 2014 2013
Premiums written $ 30,871 $ 29,613 $ 28,164
Premiums earned $ 30,309 $ 28,928 $ 27,618
Claims and claims expense (20,981) (19,315) (17,769)
Amortization of DAC (4,102) (3,875) (3,674)
Other costs and expenses (3,573) (3,835) (3,751)
Restructuring and related charges (39) (16) (63)
Underwriting income $ 1,614 $ 1,887 $ 2,361
Catastrophe losses $ 1,719 $ 1,993 $ 1,251
Underwriting income (loss) by line of business
Auto $ 23 $ 604 $ 668
Homeowners 1,431 1,097 1,422
Other personal lines 175 150 198
Commercial lines (40) 9 41
Other business lines 33 40 51
Answer Financial (8) (13) (19)
Underwriting income $ 1,614 $ 1,887 $ 2,361
Underwriting income (loss) by brand
Allstate brand $ 1,812 $ 2,235 $ 2,551
Esurance brand (164) (259) (218)
Encompass brand (26) (76) 47
Answer Financial (8) (13) (19)
Underwriting income $ 1,614 $ 1,887 $ 2,361
The following tables summarize the differences in underwriting results from the prior year. The 2015 column presents
differences in 2015 compared to 2014. The 2014 column presents differences in 2014 compared to 2013. The components of
the increase (decrease) in underwriting income (loss) by line of business are shown in the following table.
Auto Homeowners
Other personal
lines Commercial lines Allstate Protection (1)
($ in millions) 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014
Underwriting income (loss) prior period $ 604 $ 668 $ 1,097 $ 1,422 $ 150 $ 198 $ 9 $ 41 $ 1,887 $ 2,361
Changes in underwriting income (loss)
from:
Premiums earned 1,066 895 232 291 30 33 34 20 1,381 1,310
Incurred claims and claims expense
(“losses”):
Incurred losses, excluding
catastrophe losses and
reserve reestimates
(1,491) (678) (62) (114) (42) (21) (65) (10) (1,658) (868)
Catastrophe losses excluding
reserve reestimates
80 (94) 128 (446) 2 (55) 6 (16) 216 (611)
Non‑catastrophes reserve
reestimates
(265) 59 (13) 7 18 6 (19) (5) (282) 64
Catastrophes reserve reestimates (3) (58) 66 (41) (2) (21) (3) (11) 58 (131)
Total reserve reestimates (268) 1 53 (34) 16 (15) (22) (16) (224) (67)
Subtotal losses (1,679) (771) 119 (594) (24) (91) (81) (42) (1,666) (1,546)
Expenses 32 (188) (17) (22) 19 10 (2) (10) 12 (238)
Underwriting income (loss) $ 23 $ 604 $ 1,431 $ 1,097 $ 175 $ 150 $ (40) $ 9 $ 1,614 $ 1,887
(1) Includes other business lines underwriting income of $33 million and $40 million in 2015 and 2014, respectively, and Answer Financial underwriting
loss of $8 million and $13 million in 2015 and 2014, respectively.