Allstate Declares January 2023 Disaster Losses and Applied Auto Charges
NORTHBROOK, Unwell., February 16, 2023 – The Allstate Company (NYSE: ALL) at this time introduced estimated disaster losses for the month of January of $307 million or $243 million, after-tax.
Disaster losses for January occasions had been estimated at $309 million, associated to 9 occasions primarily in Texas and California, partially offset by favorable reserve reestimates for prior occasions.
“Allstate continued to implement important auto insurance coverage fee actions in response to inflationary will increase to loss prices. Throughout the month of January, the Allstate model carried out auto fee will increase of 9.9% throughout 13 places, leading to complete model premium influence of 0.7% that are anticipated to lift annualized written premiums by roughly $182 million,” stated Jess Merten, Chief Monetary Officer of The Allstate Company. Our carried out auto fee exhibit has been posted on allstateinvestors.com.
Monetary info, together with materials bulletins about The Allstate Company, is routinely posted on www.allstateinvestors.com.
This information launch comprises “forward-looking statements” that anticipate outcomes primarily based on our estimates, assumptions and plans which can be topic to uncertainty. These statements are made topic to the safe-harbor provisions of the Personal Securities Litigation Reform Act of 1995. These forward-looking statements don’t relate strictly to historic or present details and could also be recognized by their use of phrases like “plans,” “seeks,” “expects,” “will,” “ought to,” “anticipates,” “estimates,” “intends,” “believes,” “doubtless,” “targets” and different phrases with related meanings. We imagine these statements are primarily based on affordable estimates, assumptions and plans. Nonetheless, if the estimates, assumptions or plans underlying the forward-looking statements show inaccurate or if different dangers or uncertainties come up, precise outcomes may differ materially from these communicated in these forward-looking statements. Components that would trigger precise outcomes to vary materially from these expressed in, or implied by, the forward-looking statements could also be present in our filings with the U.S. Securities and Trade Fee, together with the “Danger Components” part in our most up-to-date annual report on Kind 10-Okay. Ahead-looking statements are as of the date on which they’re made, and we assume no obligation to replace or revise any forward-looking assertion.
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