Allstate offered some preliminary details of factors that impacted fourth-quarter 2023 earnings—among them a $199 million non-catastrophe reserve charge. The carrier said the figure representing unfavorable prior year reserve reestimates, excluding catastrophes, included roughly $148 million related to personal auto …
The departments of insurance in California, New York and New Jersey approved double-digit auto rate increases for Allstate in the three states that the carrier considered exiting in the absence of approvals, the Northbrook, Ill.-based carrier announced on Thursday. For …
Analysts from Standard & Poor’s predicted this week that while personal auto results are starting to stabilize, the continued push for rate in 2024 will set the stage for more faceoffs between regulators and insurers. Tim Zawacki, principal insurance analyst, …
NEXT Insurance said Allstate and Allianz X have invested $265 million in the digital small business insurer. NEXT and Allstate will partner on bringing new commercial products to what they call an underserved target market of 33 million small businesses. …
Allstate Corp. said estimated catastrophe losses for the month of July were $313 million or $247 million, after-tax. July has 18 events, highlighted by widespread wind and hail storms, with estimated losses of about $349 million. These losses for July …
Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market players. Profitability challenges in the …
Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President and CEO Tom Wilson said the …
The topic of a recent California insurance department workshop was the potential use of catastrophe modeling in ratemaking, but carrier representatives and consumers took the opportunity to air concerns about other problems in the state’s insurance market. The state’s growing …
Allstate Corp. announced estimated catastrophe losses for the month of June of $1.01 billion, or $799 million, after-tax. June’s month catastrophe losses include 18 events estimated at $1.13 billion, with approximately 60% of the losses related to four wind and …
Allstate Corp. today released estimated catastrophe losses for the month of May of $885 million or $699 million, after-tax. There were a dozen events in May causing $893 million in catastrophe losses, Allstate said, but about 70% of losses were …
