Allstate Announces February 2024 Catastrophe Losses and Implemented Rates

Banking & Financial Services
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Tom Wilson CEO of Allstate since 2007 Board Chair, President, and Chief Executive Officer | Allstate, IL

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NORTHBROOK, Ill., March 21, 2024 – The Allstate Corporation disclosed that their "estimated catastrophe losses were below the $150 million reporting threshold for February 2024." The company also revealed that "Rate increases for Allstate brand auto insurance resulted in a premium impact of 0.1% for the month of February and 1.5% year-to-date," as well as stating that "Rate increases for Allstate brand homeowners insurance have resulted in a premium impact of 2.4% for the month of February and 2.7% year-to-date." Additionally, they mentioned that "Implemented rate increases and inflation in insured home replacement costs resulted in a 12.4% increase in homeowners insurance average gross written premium in February 2024 compared to the prior year."

The financial information and material announcements about The Allstate Corporation can be accessed on their website at www.allstateinvestors.com. The company also included a disclaimer about forward-looking statements, stating that such statements are subject to uncertainties and risks that could potentially impact actual results.

The Allstate Corporation emphasized their commitment to providing transparent and detailed information to their stakeholders, ensuring that investors and the public are informed about the company's performance and strategies.

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