Allstate: High ROEs Likely Unsustainable

Company Overview - Allstate Corporation (NYSE: ALL) has consistently outperformed sell-side estimates, leading to a significant rise in its share price over the past few years [1] - The company is a major player in the personal property and casualty insurance market, particularly excelling in auto insurance underwriting [1] Investment Philosophy - The investment philosophy emphasizes acquiring high-quality stocks and businesses that are managed by disciplined capital allocators, generate exceptional returns on capital, and can compound invested capital over long periods [1]