Allstate Announces May 2023 Catastrophe Losses and Implemented Auto Rates
15 6월 2023 - 9:26PM
Business Wire
The Allstate Corporation (NYSE: ALL) today announced estimated
catastrophe losses for the month of May of $885 million or $699
million, after-tax.
May month catastrophe losses include 12 events estimated at $893
million, with approximately 70% of the losses related to two wind
and hail events, partially offset by favorable reserve reestimates
for prior events. Total catastrophe losses for April and May were
$1.68 billion, pre-tax.
During the month of May, the Allstate brand implemented auto
rate increases of 9.3% across 15 locations, resulting in total
brand premium impact of 1.6%.
“Allstate continued to implement significant auto insurance rate
actions as part of our comprehensive plan to improve profitability.
Since the beginning of the year, rate increases for Allstate brand
auto insurance have resulted in a premium impact of 4.9%, which are
expected to raise annualized written premiums by approximately
$1.28 billion,” said Jess Merten, Chief Financial Officer of The
Allstate Corporation. Our implemented auto rate exhibit has been
posted on allstateinvestors.com.
Financial information, including material announcements about
The Allstate Corporation, is routinely posted on
www.allstateinvestors.com.
Forward-Looking Statements
This news release contains “forward-looking statements” that
anticipate results based on our estimates, assumptions and plans
that are subject to uncertainty. These statements are made subject
to the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements do not relate
strictly to historical or current facts and may be identified by
their use of words like “plans,” “seeks,” “expects,” “will,”
“should,” “anticipates,” “estimates,” “intends,” “believes,”
“likely,” “targets” and other words with similar meanings. We
believe these statements are based on reasonable estimates,
assumptions and plans. However, if the estimates, assumptions or
plans underlying the forward-looking statements prove inaccurate or
if other risks or uncertainties arise, actual results could differ
materially from those communicated in these forward-looking
statements. Factors that could cause actual results to differ
materially from those expressed in, or implied by, the
forward-looking statements may be found in our filings with the
U.S. Securities and Exchange Commission, including the “Risk
Factors” section in our most recent annual report on Form 10-K.
Forward-looking statements are as of the date on which they are
made, and we assume no obligation to update or revise any
forward-looking statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20230615785352/en/
Al Scott Media Relations (847) 402-5600
Brent Vandermause Investor Relations (847) 402-2800
Allstate (NYSE:ALL)
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Allstate (NYSE:ALL)
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