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...
Allstate Reports $310M Q4 Loss as Auto Claims Costs Motor Past Rate Hikes February 2, 2023 By Chad Hemenway As it had warned last month, Allstate Corp. reported a fourth quarter 2022 loss of $310 million as losses from...
Top 10 Midwest Insurance Journal Stories of 2022 December 29, 2022 By Ezra Amacher Allstate buying office space in downtown Chicago, State Farm suing Tesla over a car fire, and Geico being ordered to...