NORTHBROOK, Unwell., June 15, 2023 – The Allstate Company (NYSE: ALL) in the present day introduced estimated disaster losses for the month of Might of $885 million or $699 million, after-tax.
Might month disaster losses embody 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. Whole disaster losses for April and Might have been $1.68 billion, pre-tax.
In the course of the month of Might, the Allstate model applied auto fee will increase of 9.3% throughout 15 places, leading to whole model premium impression of 1.6%.
“Allstate continued to implement important auto insurance coverage fee actions as a part of our complete plan to enhance profitability. For the reason that starting of the 12 months, fee 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 fee exhibit has been posted on allstateinvestors.com.
Monetary data, together with materials bulletins about The Allstate Company, is routinely posted on www.allstateinvestors.com.
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