Tag: Allstate

December 15, 2023

Allstate has secured regulatory approval to increase auto insurance rates in California, New York, and New Jersey. CFO Jess Marten said the insurer will be implementing rate increases of 30%, 14.6%, and 20% in the respective states beginning December, with […]

October 23, 2023

A Raleigh man has been sentenced to more than one year of prison time after pleading guilty to accusations of wire fraud and money laundering. Apart from prison time, Massey was also ordered to complete three years of supervised release […]

September 27, 2023

Allstate reported $551 million in catastrophe losses in August alone, prompting the insurer to implement 7% rate increases throughout five locations. When announcing its catastrophe losses, which totaled $864 million pre-tax for July and August combined, Allstate said the Maui […]

July 5, 2023

The withdrawal of large insurance carriers like Allstate and State Farm from California’s insurance market will have a significant impact on claims, at least one claims services provider has told Insurance Business. Remaining carriers must shoulder huge nat-cat risks in […]

March 16, 2023

U.S. primary insurer Allstate has announced estimated catastrophe losses for February of $211 million or $167 million, after tax. Catastrophe losses for February events were estimated at $241 million, and related to nine events primarily from wind and rain that […]

February 2, 2023

As it had warned last month, Allstate Corp. reported a fourth quarter 2022 loss of $310 million as losses from auto insurance outpaced an increase in revenue. Results were in comparison to net income of $790 million for Q4 2021. […]

January 25, 2023

J.D. Power has published the latest edition of its auto insurance quarterly shopping trends report, and found that in the fourth quarter of 2022, there was actually a noticeable increase in auto insurance shopping activity in America. The report – […]

March 22, 2022

Two property and casualty insurers and two brokers were included within a list compiled by Ethisphere of the most ethical companies in the world. The 16th annual report from Ethisphere, a company that defines and measures corporate ethical standards and […]

February 3, 2022

The Allstate Corporation has reported a YoY increase in revenues of 20.7% in its latest results. The insurance giant reported that its consolidated revenues rose from $41,909m across the whole of 2020 to $50,588m in 2021. It was also reported […]

May 20, 2021

US primary insurance carrier Allstate has reported $544 million of net catastrophe losses, largely caused by April’s severe US convective weather and hail storms, as well as some loss creep on previous events. The insurer said that the $544 million […]

March 18, 2021

US primary insurer Allstate has revealed a significant approximately $1.3 billion gross loss from the winter storms and severe winter freeze, primarily impacting Texas, which it warns mean its aggregate reinsurance will trigger, which is provided by its Sanders Re […]

February 5, 2021

Things are not looking good with Allstate, which has posted its worst auto insurance customer retention numbers in two decades. In 2020, the company’s auto policy renewals were 87.5%, down from 88% in 2019. It was Allstate’s worst policy renewal […]