2023-05-18 11:13:28 ET
- Property and casualty insurer Allstate ( NYSE: ALL ) said its April estimated catastrophe losses stood at $799M or $631M after-tax.
- The company had estimated comparatively higher catastrophe losses for March. March estimated catastrophe losses were $1.17B or $927M after-tax.
- The April catastrophe losses include 12 events, with ~60% of the losses related to two wind and hail events.
- For April, the Allstate brand implemented auto rate increases of 8.6% across 13 locations, resulting in total brand premium impact of 1.6%.
- Comparatively, the brand had implemented auto rate increases of 7.6% across 10 locations, resulting in a total brand premium impact of 0.5% during March.
- Source: Press Release
For further details see:
Allstate April catastrophe losses estimated to be below March-level