NORTH BROOK, IL, October 17, 2024 – Allstate Corporation (NYSE: ALL) today announced that its estimated hurricane-related catastrophe losses for September were $889 million, or $702 million after-tax. (including $630 million in advance). Helen. Total catastrophe losses in the third quarter were $1.7 billion after-tax, or $1.35 billion, and September year-to-date total catastrophe losses were $4.55 billion, or $3.6 billion after-tax.
During the third quarter of 2024, the Company conducted an annual fixed asset liability reserve outflow review. This resulted in an unfavorable reserve reestimate totaling $58 million or $46 million after-tax.
Allstate-branded auto insurance rate increases resulted in a 2.9% rate impact in the third quarter and a 6.3% year-to-date premium impact. This includes rate increases approved by the New York, New Jersey and Texas Departments of Insurance this quarter. . Our auto and homeowners insurance rates are available at www.allstateinvestors.com.
Financial information about Allstate Corporation, including important announcements, is posted periodically at www.allstateinvestors.com.
Forward-looking statements
This news release contains forward-looking statements that predict results based on the Company’s estimates, assumptions and plans that involve uncertainties. These statements are made pursuant 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 the use of terminology such as “plans,” “,” and similar words. “seek”, “expect”, “would”, “should”, “anticipate”, “estimate”, “intend”, “believe”, “likely”, “goal and ‘, and other words with similar meanings. The Company believes that these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions and plans underlying forward-looking statements prove inaccurate, or are subject to other risks and uncertainties, actual results may vary with respect to these forward-looking statements. It may differ significantly from what is conveyed in the description. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include the “Risk Factors” section of our most recent annual report. This may be included in your submission to the committee. on Form 10-K. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statements.
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