NORTHBROOK, Sick., September 21, 2023 – The Allstate Company (NYSE: ALL) right now introduced estimated disaster losses for the month of August of $551 million or $435 million, after-tax.
August month disaster losses embrace 18 occasions estimated at $641 million, with roughly half of the losses associated to the Maui wildfire, partially offset by favorable reserve reestimates for prior occasions. Complete disaster losses for July and August had been $864 million, pre-tax.
Through the month of August, the Allstate model carried out auto fee will increase of seven.0% throughout 5 areas, leading to complete model premium affect of 0.2%.
“Allstate continued to implement important auto and householders insurance coverage fee actions as a part of our complete plan to enhance profitability. For the reason that starting of the yr, fee will increase for Allstate model auto insurance coverage have resulted in a premium affect of 8.6%, that are anticipated to boost annualized written premiums by roughly $2.23 billion. Applied fee will increase and inflation in insured residence alternative prices resulted in a 13.2% improve in householders insurance coverage common gross written premium in August 2023 in comparison with the prior yr,” mentioned Jess Merten, Chief Monetary Officer of The Allstate Company. Our carried out fee exhibit for auto and householders insurance coverage has been posted on allstateinvestors.com.
Monetary data, together with materials bulletins about The Allstate Company, is routinely posted on www.allstateinvestors.com.
Ahead-Trying Statements
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