Northbrook, Illinois, March 16, 2023 – The Allstate Corporation (NYSE: ALL) today reported estimated catastrophic losses for the month of February of $211 million or $167 million, after taxes.
Disaster losses for the February events were estimated at $241 million, related to nine events primarily of wind and rain that were geographically dispersed, which were partially offset by a re-estimation of the favorable reserves of the earlier events. Total disaster losses for January and February were $518 million, before taxes.
Allstate continued to implement large auto insurance rate measures in response to inflationary increases in loss costs. During February, the Allstate brand implemented auto price increases of 7.6% across 10 locations, driving a total brand premium impact of 0.5% that is expected to raise annual written premiums by approximately $127 million.” From Allstate. Done Publication of the Car Quote Exposition implemented on allstateinvestors.com.
Financial information, including material announcements about Allstate, is routinely posted on www.allstateinvestors.com.
This press release contains “forward-looking statements” that predict results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are 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 can be identified by their use of words such as “plans,” “seeks,” “expects,” “will,” “should.” “,” Expects “,” Estimates “,” Intends “,” Believes “,” Likely “,” Targets” and other words have similar meanings. We believe that these statements are based on reasonable estimates, assumptions and plans. However, if estimates or The assumptions or plans underlying the forward-looking statements are 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 can be found in Forward-looking statements or contained in forward-looking statements in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section of our most recent annual report on Form 10-K. Forward-looking statements are as of the date they are made, and we assume no obligation to update or Review any forward-looking statement.
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