Rate Hikes Not Bringing Profit to US Auto Insurers: Fitch August 18, 2023 By Susanne Sclafane Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers,...
Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B August 1, 2023 By Chad Hemenway Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the...
Barring Change, Allstate May Exit California Property Market Completely July 25, 2023 By Susanne Sclafane The topic of a recent California insurance department workshop was the potential use of catastrophe modeling in ratemaking, but carrier...
Update: Allstate Estimates Catastrophe Losses of $1 Billion in June, $2.7 Billion in Q2 July 20, 2023 Allstate Corp. announced estimated catastrophe losses for the month of June of $1.01 billion, or $799 million, after-tax. June’s month...
Allstate Announces May Catastrophe Losses, Auto Rate Hikes June 15, 2023 Allstate Corp. today released estimated catastrophe losses for the month of May of $885 million or $699 million, after-tax. There...
Climate Change and Homeowners’ Insurance Are on a Collision Course June 9, 2023 By Leslie Kaufman A summer that has already seen water crises and wildfire smoke is rapidly becoming an inflection point in the pitched...
State Farm’s California Halt Reflects Overall Poor Underwriting Experience, Ratings Agency Says May 31, 2023 By Don Jergler State Farm’s announcement last week that the carrier was no longer writing new personal or business property/casualty policies in California...
Fitch Downgrades Allstate’s IFS Ratings to ‘A’ May 23, 2023 Citing declines in statutory capital and poor underwriting results in personal auto, Fitch Ratings has downgraded the insurer financial strength...
Allstate Posts Loss With ‘Exceptionally’ High Catastrophe Costs May 4, 2023 By Sally Bakewell Allstate Corp. posted a bigger first-quarter loss than analysts expected as higher premiums failed to offset rising auto costs and...
After Nonrenewals, Castle Key Files 53.5% Increase for Remaining Fla. Condo Policies March 24, 2023 By Insurance Journal Staff Reports Two months after Allstate announced that a Florida subsidiary would non-renew 33,000 condominium policies, the company has filed for a...