Allstate Corp Stock Price, News & Analysis

The Allstate Corporation (NYSE: ALL) reported estimated catastrophe losses for March totaling $1.17 billion or $927 million after-tax. March saw losses estimated at $1.26 billion from 10 events, mainly from three wind events. For Q1, pre-tax catastrophe losses reached $1.69 billion. In March, Allstate raised auto insurance rates by 7.6% across ten locations, resulting in a 0.5% brand premium impact. Year-to-date, auto rate hikes have resulted in $454 million in annualized written premiums. Furthermore, a 6.9% auto insurance rate increase is anticipated for implementation in April, effective June 2023. However, unfavorable prior year reserve reestimates totaled $27 million in Q1, primarily due to commercial insurance adjustments.

The Allstate Corporation (NYSE: ALL) will hold a conference call and webcast to discuss its first quarter 2023 earnings on May 4, 2023, at 9 a.m. Eastern. A current report on Form 8-K will be filed with the Securities and Exchange Commission after 4:15 p.m. Eastern on May 3, 2023. Investors can access Allstate's quarterly results, earnings release, and investor supplement via the SEC website or Allstate's investor site shortly after filing. The investor webcast will also be available for replay after the call. Alerts about Allstate can be received by enrolling on the investor site.