Allstate Announces May 2022 Catastrophe Losses and Implemented Auto Rates
16 Giugno 2022 - 1:58PM
Business Wire
The Allstate Corporation (NYSE: ALL) today announced estimated
catastrophe losses for the month of May of $436 million or $344
million, after-tax. May catastrophe losses included 14 events,
primarily wind and hail in Texas, the Midwest and Canada, estimated
at $423 million, plus unfavorable reserve reestimates for prior
period events. Catastrophe losses for April and May totaled $752
million, pre-tax.
“Allstate continued to implement meaningful rate actions in
response to ongoing inflationary impacts on auto insurance
severities. During the month of May, the Allstate brand implemented
rate increases of 9.3% across 13 locations, resulting in total
Allstate brand insurance premium impact of 0.7%. We have
implemented 78 rate increases averaging approximately 8.1% across
49 locations since the beginning of the fourth quarter 2021.
Allstate brand implemented auto rate increases totaled $180 million
in the month of May and $343 million quarter to date, 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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Al Scott Media Relations (847) 402-5600
Mark Nogal Investor Relations (847) 402-2800
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