The Allstate Corporation - ALL STOCK NEWS

The Allstate Corporation (NYSE: ALL) announced auto insurance rate increases of 14.0% in October 2022, affecting 15 locations. This move aims to address rising loss costs due to inflation. The total premium impact for the Allstate brand in October was 1.3%, contributing to a 12.1% increase year-to-date, amounting to $2.9 billion. Catastrophe losses for the month remained below the $150 million threshold. Forward-looking statements emphasize that actual results may vary based on underlying assumptions and risks.

Allstate collaborates with chef Jordan Andino to launch the Allstate Good Sips collection, featuring signature mocktails aimed at promoting safe driving during the holiday season. With a marked increase in demand for nonalcoholic beverages—33% growth to $331 million in 2021—Allstate seeks to provide tasty alternatives for designated drivers while addressing road safety concerns, particularly those linked to alcohol consumption. The mocktails include creative recipes like Safetini, Sober Sage, and 10 & 2.

The Allstate Corporation (NYSE: ALL) will hold a conference call and webcast on December 2, 2022, focusing on Allstate’s auto and home insurance claims practices and reserving process. Scheduled for 10:00 a.m. Eastern time, the hourlong event will feature presentations and discussions with executive leaders, alongside a Q&A segment. This call aims to provide investors with deeper insights into significant operational topics. An archived version of the webcast will be available at www.allstateinvestors.com after the event.

The Allstate Corporation (NYSE: ALL) reported a Q3 2022 net loss of $694 million, compared to a profit of $508 million a year prior, driven by increased claims severity and asset valuation declines. Consolidated revenues rose 5.8% to $13.2 billion, fueled by a 9.8% growth in Property-Liability premiums. Adjusted net loss was $420 million, down from $217 million in Q3 2021. The property-liability combined ratio worsened to 111.6. Allstate continues increasing insurance prices amid inflation and plans to exit unprofitable markets. Total cash returns to shareholders reached $2.8 billion year-to-date.

The Allstate Corporation (NYSE: ALL) filed a Form 8-K detailing its financial results for the quarter ending September 30, 2022. The disclosures include an earnings release and investor supplement, available on the SEC website and the company’s investor relations page. A conference call is scheduled for November 3 at 9 a.m. Eastern to discuss these results, with a webcast accessible for all interested parties. Investors can sign up for email alerts for future financial updates.

Voya Investment Management has been chosen by Allstate to manage its $850 million commercial mortgage portfolio, effective Nov. 14, 2022. Allstate retains ownership while Voya IM takes over management through a separately managed account. Approximately seven Allstate employees will join Voya’s team to handle this portfolio. Allstate's Managing Director emphasized the need for Voya’s proven expertise in commercial mortgage management, citing recent sales of assets making internal management less optimal. Voya manages approximately $330 billion in assets across various strategies.

The Allstate Corporation (NYSE: ALL) reported a challenging third quarter of 2022, estimating a net loss between $675 million and $725 million. Adjusted net loss is projected between $400 million and $450 million. Despite a 9.8% increase in written premiums to $12 billion, driven by higher auto and homeowners insurance rates, the company faced escalating claim costs. Catastrophe losses from Hurricane Ian are estimated at $763 million. Combined ratios for property-liability insurance stood at 111.6%.

The Allstate Corporation (NYSE: ALL) will host a conference call and webcast on Nov. 3, 2022, at 9 a.m. Eastern to discuss its Q3 2022 earnings. A current report on Form 8-K detailing quarterly results will be filed with the SEC at or after 4:15 p.m. Eastern on Nov. 2. Interested parties can view the earnings release and investor supplement on the SEC website and at Allstate’s investor site by 5 p.m. Eastern.

The latest Allstate Identity Protection report reveals that 17% of Americans encountered suspicious job opportunities this year, with remote job scams on the rise. In Q2 alone, approximately 21,600 fraudulent job listings resulted in $86 million in losses for victims. Notably, disability fraud cases surged by 85% year-over-year, while unauthorized credit inquiries increased by 116%. Allstate emphasizes the importance of quick action against identity theft and offers resources for protection. This underscores the growing threat of fraud in the digital age.