NORTHBROOK, Ailing., December 14, 2023 – The Allstate Company (NYSE: ALL) at present introduced applied auto and householders insurance coverage charges for November 2023.
“Allstate continued to make progress on our complete plan to enhance profitability. Because the starting of the yr, fee will increase for Allstate model auto insurance coverage have resulted in a premium influence of 11.4%, that are anticipated to lift annualized written premiums by roughly $2.97 billion, and fee will increase for Allstate model householders insurance coverage have resulted in a premium influence of 10.1%, that are anticipated to lift annualized written premiums by roughly $1.03 billion. Carried out fee will increase and inflation in insured residence substitute prices resulted in a 12.6% improve in householders insurance coverage common gross written premium in November 2023 in comparison with the prior yr,” mentioned Jess Merten, Chief Monetary Officer of The Allstate Company. “As well as, we not too long ago obtained approval from Departments of Insurance coverage in California, New York and New Jersey for Allstate model auto insurance coverage fee will increase of 30.0%, 14.6% and 20.0%, respectively, as we work with the regulators to allow us to protect prospects. We anticipate to implement these charges in December with efficient dates by way of February 2024. The charges are anticipated to lift annualized written premiums by roughly $1 billion.” Our applied fee exhibit for auto and householders insurance coverage has been posted on www.allstateinvestors.com.
Allstate’s estimated disaster losses have been under the $150 million reporting threshold for November 2023.
Monetary info, together with materials bulletins about The Allstate Company, is routinely posted on www.allstateinvestors.com.
Ahead-Trying Statements
This information launch comprises “forward-looking statements” that anticipate outcomes based mostly on our estimates, assumptions and plans which can be 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,” “doubtless,” “targets” and different phrases with comparable meanings. We consider these statements are based mostly on cheap estimates, assumptions and plans. Nonetheless, 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. Elements 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 Trade Fee, together with the “Threat Elements” part in our most up-to-date annual report on Kind 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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