Allstate Pronounces Could 2023 Disaster Losses and Applied Auto Charges
NORTHBROOK, In poor health., June 15, 2023 – The Allstate Company (NYSE: ALL) right this moment introduced estimated disaster losses for the month of Could of $885 million or $699 million, after-tax.
Could month disaster losses embrace 12 occasions estimated at $893 million, with roughly 70% of the losses associated to 2 wind and hail occasions, partially offset by favorable reserve reestimates for prior occasions. Complete disaster losses for April and Could had been $1.68 billion, pre-tax.
In the course of the month of Could, the Allstate model applied auto charge will increase of 9.3% throughout 15 areas, leading to complete model premium impression of 1.6%.
“Allstate continued to implement important auto insurance coverage charge actions as a part of our complete plan to enhance profitability. For the reason that starting of the 12 months, charge will increase for Allstate model auto insurance coverage have resulted in a premium impression of 4.9%, that are anticipated to lift annualized written premiums by roughly $1.28 billion,” mentioned Jess Merten, Chief Monetary Officer of The Allstate Company. Our applied auto charge exhibit has been posted on allstateinvestors.com.
Monetary data, together with materials bulletins about The Allstate Company, is routinely posted on www.allstateinvestors.com.
Ahead-Wanting Statements
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