Tag: Allstate

Regulatory / Legal

Insurance claims adjuster sentenced to prison time

October 23, 2023

Via: Insurance Business

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 […]

Financial, Risk Management

Natural disasters cost Allstate $864M in two-month span, triggering rate hikes

September 27, 2023

Via: Repairer Driven News

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 […]


California’s insurance carrier exits – what’s the impact on claims?

July 5, 2023

Via: Insurance Business

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 […]

Financial, Risk Management

Allstate pegs catastrophe losses for February at $211m

March 16, 2023

Via: Reinsurance News

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 […]

Financial, Risk Management

Allstate Reports $310M Q4 Loss as Auto Claims Costs Motor Past Rate Hikes

February 2, 2023

Via: Insurance Journal

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. […]

Risk Management, Trends

Allstate, GEICO, State Farm… where are customers going amid increased auto insurance shopping?

January 25, 2023

Via: Insurance Business

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 – […]


Insurers, Brokers Among Those Named World’s Most Ethical Companies

March 22, 2022

Via: Insurance Journal

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 […]

Financial, Risk Management

Allstate reports YoY growth in revenues of 20.7%

February 3, 2022

Via: Reinsurance News

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 […]

Financial, Geo-Political, Risk Management

Allstate reports $544m of catastrophe losses and loss creep in April

May 20, 2021

Via: Artemis BM

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 […]

Geo-Political, Risk Management

Allstate says winter storm loss to trigger Sanders Re II 2019-1 cat bond

March 18, 2021

Via: Artemis BM

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 […]

Financial, Risk Management

Allstate’s auto insurance renewal rate is its worst in two decades

February 5, 2021

Via: Insurance Business

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 […]