Allstate Insurance Boardman Ohio – NORTHBROOK, Ill., April 20, 2023 – Allstate Corporation (NYSE: ALL) today announced net loss for the month of March of $1.17 billion or $927 million, after tax.
The worst losses of the March events are estimated at 10 billion dollars. Risk losses for the first quarter totaled $1.69 billion, before taxes.
Allstate Insurance Boardman Ohio
In the month of March, the Allstate brand increased auto rates by 7.6% in 10 locations, resulting in a higher quality rate of 0.5%.
Rocco Nolfi Agency: Allstate Insurance, 6810 Market St, Boardman, Oh, Insurance
“Allstate has continued to take important actions for auto insurance as part of our comprehensive strategy to improve profitability. Since the beginning of the year, the increase in the volume of Allstate brand auto insurance has resulted in an impact of 1.7%, which is expected to increase. written premiums for the year will reach 454 million dollars,” said Jess Merten, Chief Financial Officer of The Allstate Corporation. “Additionally, the California Department of Insurance recently approved our 6.9% Allstate brand car insurance premium increase, which we expect to begin in April and will be effective June 2023.” com.
False savings estimates in the past year, excluding accidents, amounted to $27 million in the first quarter with $23 million due to commercial insurance, which is related to the business being liquidated. Starting next quarter, we will report only the year-ago quarter reserve forecast, excluding risk, if applicable.
This press release contains “forward-looking statements” that are dependent on results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made under the Securities Litigation Reform Act of 1995. These statements do not relate to past or present events and can be distinguished by the words they use such as “plans,” “desires,” “desires.” “expects,” “wills,” “should,” “estimates,” “estimates,” “wills,” “believes,” “may,” “intends” and other words of similar meaning. reasonable assumptions, estimates and plans. However, if the assumptions, assumptions or plans underlying the forward-looking statements prove to be incorrect or other risks or uncertainties arise, actual results may differ materially from those expressed in these forward-looking statements. Factors That Could Affect Results that may differ from those expressed, or implied, by the forward-looking statements that may be found in our U.S. filters. Securities and Exchange Commission, including the “Risk Factors” section of our annual report on Form 10-K. Forward-looking statements speak as of the date they are made, and we assume no obligation to update or revise any forward-looking statement.
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