NORTHBROOK, In poor health., November 16, 2023 – The Allstate Company (NYSE: ALL) as we speak introduced carried out auto and owners insurance coverage charges for October 2023.
“Allstate continued to implement vital auto and owners insurance coverage charge actions as a part of our complete plan to enhance profitability. For the reason that starting of the yr, charge will increase for Allstate model auto insurance coverage have resulted in a premium impression of 10.4%, that are anticipated to boost annualized written premiums by roughly $2.70 billion, and charge will increase for Allstate model owners insurance coverage have resulted in a premium impression of 9.6%, that are anticipated to boost annualized written premiums by roughly $982 million. Applied charge will increase and inflation in insured dwelling alternative prices resulted in a 12.2% enhance in owners insurance coverage common gross written premium in October 2023 in comparison with the prior yr,” mentioned Jess Merten, Chief Monetary Officer of The Allstate Company. Our carried out charge exhibit for auto and owners insurance coverage has been posted on www.allstateinvestors.com.
Allstate’s estimated disaster losses had been under the $150 million reporting threshold for October 2023.
Monetary data, together with materials bulletins about The Allstate Company, is routinely posted on www.allstateinvestors.com.
This information launch accommodates “forward-looking statements” that anticipate outcomes based mostly on our estimates, assumptions and plans which are topic to uncertainty. These statements are made topic to the safe-harbor provisions of the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements don’t relate strictly to historic or present info and could also be recognized by their use of phrases like “plans,” “seeks,” “expects,” “will,” “ought to,” “anticipates,” “estimates,” “intends,” “believes,” “possible,” “targets” and different phrases with related meanings. We imagine these statements are based mostly on cheap estimates, assumptions and plans. Nevertheless, if the estimates, assumptions or plans underlying the forward-looking statements show inaccurate or if different dangers or uncertainties come up, precise outcomes might differ materially from these communicated in these forward-looking statements. Components that might trigger precise outcomes to vary materially from these expressed in, or implied by, the forward-looking statements could also be present in our filings with the U.S. Securities and Change Fee, together with the “Threat Components” part in our most up-to-date annual report on Type 10-Ok. Ahead-looking statements are as of the date on which they’re made, and we assume no obligation to replace or revise any forward-looking assertion.
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