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...
Credit Outlook for Allstate’s Florida Unit is Negative, Reflects Deteriorated Surplus March 14, 2023 By Insurance Journal Staff Reports The AM Best financial rating firm’s tepid outlook for Allstate’s Florida subsidiaries, Castle Key Insurance Co. and Castle Key Indemnity...
Allstate: $307M in January Cat Losses and Keeps the Auto Rate Hikes Coming February 17, 2023 By Chad Hemenway Allstate Corp. said it estimated catastrophe losses for the month of January of $307 million, or $243 million after-tax from...
Why Not Go Direct on Homeowners, Allstate CEO Asks February 15, 2023 By Susanne Sclafane When Allstate’s chief executive officer looks at potential growth opportunities for personal lines insurers, he sees an untapped part of...
Allstate’s Plan to Return to Profit in Auto February 6, 2023 By Chad Hemenway Following a year of turbulence in its auto insurance business, Allstate Corp. outlined what CEO Tom Wilson called the company’s...