NORTHBROOK, Ill., March 16, 2023 – The Allstate Corporation (NYSE: ALL) right now introduced estimated disaster losses for the month of February of $211 million or $167 million, after-tax.
Catastrophe losses for February occasions had been estimated at $241 million, associated to 9 occasions primarily from wind and rain that had been geographically widespread, partially offset by favorable reserve reestimates for prior occasions. Catastrophe losses for January and February totaled $518 million, pre-tax.
“Allstate continued to implement significant auto insurance rate actions in response to inflationary increases to loss costs. During the month of February, the Allstate brand implemented auto rate increases of 7.6% across 10 locations, resulting in total brand premium impact of 0.5% which are expected to raise annualized written premiums by approximately $127 million,” mentioned Jess Merten, Chief Financial Officer of The Allstate Corporation. Our applied auto charge exhibit has been posted on allstateinvestors.com.
Financial data, together with materials bulletins about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.
Forward-Looking Statements
This information launch accommodates “forward-looking statements” that anticipate outcomes primarily based on our estimates, assumptions and plans which might be topic to uncertainty. These statements are made topic to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements don’t relate strictly to historic or present info and could also be recognized by their use of phrases like “plans,” “seeks,” “expects,” “will,” “should,” “anticipates,” “estimates,” “intends,” “believes,” “likely,” “targets” and different phrases with related meanings. We consider these statements are primarily based on cheap estimates, assumptions and plans. However, 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. Factors 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 Exchange Commission, together with the “Risk Factors” part in our most up-to-date annual report on Form 10-Ok. 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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