Allstate Announces July 2023 Catastrophe Losses and Implemented Rates
- The Allstate Corporation implemented auto rate increases of 8.2% across 12 locations, resulting in a premium impact of 0.9%. Rate increases for auto insurance are expected to raise annualized written premiums by approximately $2.19 billion.
- Rate increases for homeowners insurance are expected to raise annualized written premiums by approximately $804 million.
- Homeowners insurance average gross written premium increased by 14.1% in July 2023 compared to the prior year.
- None.
July month catastrophe losses include 18 events estimated at
During the month of July, the Allstate brand implemented auto rate increases of
“Allstate continued to implement significant auto and homeowners insurance rate actions as part of our comprehensive plan to improve profitability. Since the beginning of the year, rate increases for Allstate brand auto insurance have resulted in a premium impact of
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20230816301883/en/
Al Scott
Media Relations
(847) 402-5600
Brent Vandermause
Investor Relations
(847) 402-2800
Source: The Allstate Corporation
FAQ
What were the estimated catastrophe losses for the month of July?
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What were the implemented rate increases for auto insurance?
How much are the rate increases expected to raise annualized written premiums for auto insurance?
How much are the rate increases expected to raise annualized written premiums for homeowners insurance?