Allstate Announces April 2022 Catastrophe Losses and Implemented Auto Rates
19 Maggio 2022 - 02:41PM
Business Wire
The Allstate Corporation (NYSE: ALL) today announced estimated
catastrophe losses for the month of April of $316 million or $250
million, after-tax. April catastrophe losses included fourteen
events, primarily wind, hail and tornados in Texas and the
southeast, estimated at $299 million, plus unfavorable reserve
reestimates for prior period events.
“In keeping with the outlook shared last month of taking more
rate increases than initially assumed in 2022, Allstate continued
to implement meaningful rate actions in April. The Allstate brand
implemented rate increases of 6.4% across 14 locations in April,
resulting in total Allstate brand insurance premium impact of 0.7%.
We have implemented 67 rate increases averaging approximately 8.0%
across 45 locations since the beginning of the fourth quarter 2021.
Allstate brand implemented auto rate increases totaled $163 million
in the month of April, after implementing $1.6 billion in the
previous two quarters,” said Mario Rizzo, Chief Financial Officer
of The Allstate Corporation. Our implemented auto rate exhibit has
been posted on allstateinvestors.com.
Financial information, including material announcements about
The Allstate Corporation, is routinely posted on
www.allstateinvestors.com.
Forward-Looking Statements
This news release contains “forward-looking statements” that
anticipate results based on our estimates, assumptions and plans
that are subject to uncertainty. These statements are made subject
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
their use of words like “plans,” “seeks,” “expects,” “will,”
“should,” “anticipates,” “estimates,” “intends,” “believes,”
“likely,” “targets” and other words with similar meanings. We
believe these statements are based on reasonable estimates,
assumptions and plans. However, if the estimates, assumptions or
plans underlying the forward-looking statements prove inaccurate or
if other risks or uncertainties arise, actual results could differ
materially from those communicated in these forward-looking
statements. Factors that could cause actual results to differ
materially from those expressed in, or implied by, the
forward-looking statements may be found in our filings with the
U.S. Securities and Exchange Commission, including the “Risk
Factors” section in our most recent annual report on Form 10-K.
Forward-looking statements are as of the date on which they are
made, and we assume no obligation to update or revise any
forward-looking statement.
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