Allstate Pronounces February 2023 Disaster Losses and Carried out Auto Charges
NORTHBROOK, Sick., March 16, 2023 – The Allstate Company (NYSE: ALL) as we speak introduced estimated disaster losses for the month of February of $211 million or $167 million, after-tax.
Disaster losses for February occasions have been estimated at $241 million, associated to 9 occasions primarily from wind and rain that have been geographically widespread, partially offset by favorable reserve reestimates for prior occasions. Disaster losses for January and February totaled $518 million, pre-tax.
“Allstate continued to implement important auto insurance coverage fee actions in response to inflationary will increase to loss prices. Through the month of February, the Allstate model applied auto fee will increase of seven.6% throughout 10 places, leading to whole model premium impression of 0.5% that are anticipated to lift annualized written premiums by roughly $127 million,” stated Jess Merten, Chief Monetary Officer of The Allstate Company. Our applied 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 accommodates “forward-looking statements” that anticipate outcomes based mostly on our estimates, assumptions and plans which are 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,” “seemingly,” “targets” and different phrases with comparable meanings. We imagine these statements are based mostly on cheap estimates, assumptions and plans. Nevertheless, if the estimates, assumptions or plans underlying the forwardlooking 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 Change Fee, together with the “Threat Components” part in our most up-to-date annual report on Kind 10-Okay. Forwardlooking 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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