NORTH BROOK, IL, February 15, 2024 – Allstate Corporation (NYSE: ALL) today announced that its January catastrophe losses were estimated at $276 million, or $218 million after-tax. Announced.
The estimated January catastrophe loss of $325 million was primarily due to two catastrophes making up approximately 80% of the loss, partially offset by favorable reserve re-estimates for earlier catastrophes. canceled out.
“Allstate is implementing its auto insurance margin improvement plan and continues to pursue rate increases in line with loss cost trends.” was expected to increase annual written premiums by approximately $363 million, with a 1.4% increase in premium impact due to Allstate branded homeowners insurance rate increases. %, and annualized premiums are expected to increase by approximately $40 million in January 2024 compared to the prior year due to the implemented rate hikes and insured home replacement cost inflation. 12.1% compared to 2017,” said Jess Marten, chief financial officer of Allstate Corporation. 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 estimates, assumptions or plans underlying forward-looking statements prove inaccurate or are subject to other risks and uncertainties, actual results may differ from those forward-looking statements. They may differ materially from those conveyed in the forward-looking statements. 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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