{"id":759532,"date":"2023-05-18T08:22:08","date_gmt":"2023-05-18T12:22:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/allstate-announces-april-2023-catastrophe-losses-and-implemented-auto-rates\/"},"modified":"2023-05-18T08:22:08","modified_gmt":"2023-05-18T12:22:08","slug":"allstate-announces-april-2023-catastrophe-losses-and-implemented-auto-rates","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/allstate-announces-april-2023-catastrophe-losses-and-implemented-auto-rates\/","title":{"rendered":"Allstate Announces April 2023 Catastrophe Losses and Implemented Auto Rates"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Allstate Announces April 2023 Catastrophe Losses and Implemented Auto Rates<\/b><\/p>\n<p>NORTHBROOK, Ill.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of April of $799 million or $631 million, after-tax.<\/p>\n<p>\nApril month catastrophe losses include 12 events estimated at $872 million, with approximately 60% of the losses related to two wind and hail events, partially offset by favorable reserve reestimates for prior events.<\/p>\n<p>\nDuring the month of April, the Allstate brand implemented auto rate increases of 8.6% across 13 locations, resulting in total brand premium impact of 1.6%.<\/p>\n<p>\n\u201cAllstate continued to implement significant auto 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 3.3%, which are expected to raise annualized written premiums by approximately $862 million,\u201d said Jess Merten, Chief Financial Officer of The Allstate Corporation. Our implemented auto rate exhibit has been posted on allstateinvestors.com.<\/p>\n<p>\nFinancial information, including material announcements about The Allstate Corporation, is routinely posted on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.allstateinvestors.com&amp;esheet=53402910&amp;newsitemid=20230518005511&amp;lan=en-US&amp;anchor=www.allstateinvestors.com&amp;index=1&amp;md5=41b31a18a9534142e375d484ceec2e3f\">www.allstateinvestors.com<\/a>.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis news release contains \u201cforward-looking statements\u201d 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 \u201cplans,\u201d \u201cseeks,\u201d \u201cexpects,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201canticipates,\u201d \u201cestimates,\u201d \u201cintends,\u201d \u201cbelieves,\u201d \u201clikely,\u201d \u201ctargets\u201d 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 U.S. Securities and Exchange Commission, including the \u201cRisk Factors\u201d section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230518005511r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230518005511\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230518005511\/en\/<\/a><\/span><\/p>\n<p>\nAl Scott<br \/>\n<br \/>Media Relations<br \/>\n<br \/>(847) 402-5600<\/p>\n<p>\nBrent Vandermause<br \/>\n<br \/>Investor Relations<br \/>\n<br \/>(847) 402-2800<\/p>\n<p><b>KEYWORDS:<\/b> Illinois United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Insurance Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230518005511\/en\/739746\/3\/Slightly_smaller_Allstate_logo_V2.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Allstate Announces April 2023 Catastrophe Losses and Implemented Auto Rates NORTHBROOK, Ill.&#8211;(BUSINESS WIRE)&#8211; The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of April of $799 million or $631 million, after-tax. April month catastrophe losses include 12 events estimated at $872 million, with approximately 60% of the losses related to two wind and hail events, partially offset by favorable reserve reestimates for prior events. During the month of April, the Allstate brand implemented auto rate increases of 8.6% across 13 locations, resulting in total brand premium impact of 1.6%. \u201cAllstate continued to implement significant auto insurance rate actions as part of our comprehensive plan to improve profitability. Since the beginning of the year, rate increases for &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/allstate-announces-april-2023-catastrophe-losses-and-implemented-auto-rates\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Allstate Announces April 2023 Catastrophe Losses and Implemented Auto Rates&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-759532","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Allstate Announces April 2023 Catastrophe Losses and Implemented Auto Rates - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/allstate-announces-april-2023-catastrophe-losses-and-implemented-auto-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allstate Announces April 2023 Catastrophe Losses and Implemented Auto Rates - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Allstate Announces April 2023 Catastrophe Losses and Implemented Auto Rates NORTHBROOK, Ill.&#8211;(BUSINESS WIRE)&#8211; The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of April of $799 million or $631 million, after-tax. April month catastrophe losses include 12 events estimated at $872 million, with approximately 60% of the losses related to two wind and hail events, partially offset by favorable reserve reestimates for prior events. During the month of April, the Allstate brand implemented auto rate increases of 8.6% across 13 locations, resulting in total brand premium impact of 1.6%. \u201cAllstate continued to implement significant auto insurance rate actions as part of our comprehensive plan to improve profitability. 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