NORTHBROOK, Ailing., August 17, 2023 – The Allstate Company (NYSE: ALL) right this moment introduced estimated disaster losses for the month of July of $313 million or $247 million, after-tax.
July month disaster losses embrace 18 occasions estimated at $349 million, primarily associated to geographically widespread wind and hail occasions, partially offset by favorable reserve reestimates for prior occasions.
Through the month of July, the Allstate model carried out auto charge will increase of 8.2% throughout 12 areas, leading to whole model premium affect of 0.9%.
“Allstate continued to implement vital auto and householders insurance coverage charge actions as a part of our complete plan to enhance profitability. Because the starting of the yr, charge will increase for Allstate model auto insurance coverage have resulted in a premium affect of 8.4%, that are anticipated to lift annualized written premiums by roughly $2.19 billion and charge will increase for Allstate model householders insurance coverage have resulted in a premium affect of seven.8%, that are anticipated to lift annualized written premiums by roughly $804 million. Applied charge will increase and inflation in insured dwelling substitute prices resulted in a 14.1% improve in householders insurance coverage common gross written premium in July 2023 in comparison with the prior yr,” stated Jess Merten, Chief Monetary Officer of The Allstate Company. Our carried out charge 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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