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NORTHBROOK, Ill., March 16, 2023 – Allstate Corporation (NYSE: ALL) today announced an estimated catastrophe loss for the month of February of $211 million or $167 million after tax.
Catastrophe losses for the February events were estimated at $241 million, primarily related to wind and rain from nine events that were geographically widespread, partially offset by favorable reserve revaluations for prior events. . Catastrophe losses totaled $518 million, pre-tax, for January and February.
“Allstate continued to implement significant auto insurance rate actions in response to inflationary increases in loss costs. During the month of February, the Allstate brand implemented auto rate increases of 7.6% at 10 locations, resulting in total brand premium The impact turns out to be 0.5%, which is expected to increase annual written premiums by approximately $127 million,” said Jess Merton, chief financial officer of Allstate Corporation. Our implemented auto rate schedule is posted at allstateinvestors.com.
Financial information, including important announcements about Allstate Corporation, is posted regularly at 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 strictly relate to historical or current facts and can be identified by the use of words such as “plan,” “.” intends, “expects,” “will,” “should,” “anticipates,” “anticipates,” “intends,” “believes,” “likely,” “targets” and similar Other words with meaning 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 to be incorrect or if other risks or uncertainties arise, actual results may differ materially from those stated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in forward-looking statements can be found in our filings with the US Securities and Exchange Commission, including our most recent annual report. Includes a “Risk Factors” section. on Form 10-K. Forward-looking statements are as of the date they are made, and we undertake no obligation to update or revise any forward-looking statement.
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