NORTHBROOK, Ill. - The Allstate Corporation (NYSE: NYSE:ALL), one of the nation's leading insurance providers, has reported that its estimated catastrophe losses for February 2024 were under the $150 million threshold. This information was based on a press release statement issued by the company.
In the realm of auto insurance, Allstate brand policies experienced a rate increase that had a premium impact of 0.1% for February, with a year-to-date change of 1.5%. Homeowners insurance under the Allstate brand saw a more significant rate increase, resulting in a premium impact of 2.4% for February and 2.7% for the year thus far.
A noteworthy change was observed in the homeowners insurance sector, where the average gross written premium surged by 12.4% in February 2024 compared to the same period the previous year. This increase was attributed to the implemented rate hikes and the rising costs associated with insured home replacement, reflecting inflationary trends.
Allstate has made its implemented rate exhibit for auto and homeowners insurance available to the public on its investor relations website, allstateinvestors.com. The company routinely posts financial information and material announcements on this website, providing transparency and regular updates to its investors.
The press release also included forward-looking statements regarding the company's expectations, based on estimates, assumptions, and plans that are inherently subject to uncertainties. Allstate cautions that if these underlying elements prove to be inaccurate or if unforeseen risks and uncertainties emerge, actual results could materially differ from those projected in the statements.
Investors and interested parties are encouraged to review Allstate's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" section of its most recent annual report on Form 10-K, for a more comprehensive understanding of the potential risks and variables that could impact the company's future performance. Allstate notes that it does not assume any obligation to update or revise any forward-looking statement as of the date they are made.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.