Latest Allstate Headlines
All the headlines from our Allstate Topic Page, ordered by recency.
Allstate, Nationwide Post Dramatic Q12024 Homeowners Loss Ratio Drops: S&P
Jun 28 2024 // In the topsy-turvy world of homeowners insurance, first-quarter loss ratios have been bouncing around for the last five years—from below 50 in 2020 to over 70 in 2021 and 2023, a new analysis shows. The S&P Global...
Allstate Reports May Pretax Catastrophe Losses of $1.4B
Jun 20 2024 // Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses for May, with 70%...
Allstate Tops Profit Estimates on Higher Premiums, Investment Returns
May 2 2024 // Insurer Allstate posted an upbeat first-quarter profit on Wednesday, helped by higher premiums and stronger investment returns. Insurers usually see stable product demand irrespective of economic conditions, mainly due to...
Allstate Reports $731M in Q1 Pretax Catastrophe Losses
Apr 19 2024 // Allstate Corporation estimated pretax catastrophe losses of $731 million, with $328 million from the month of March. Six events contributed to the $343 million total for March — before favorable reserve re-estimates...
Allstate’s Florida Company Defends 54% Condo Rate Hike. Blames Reinsurance, Hurricane, Rapid Growth
Mar 18 2024 // When Allstate’s Florida unit, Castle Key Indemnity Co., entered the surging condominium insurance market in 2020, it looked like it had made a smart bet: Within two years, the carrier had added no fewer than 123,000...
Smartphone Screen Repairs Surge to $8.3B in 2023: Allstate Protection
Mar 15 2024 // While smartphone use is rising, fewer phones are suffering damage that requires repairs or replacement. Good thing, because users can hardly part with smartphones long enough to get them fixed. In its latest Mobile...
Allstate Reports $276M in January Cat Losses, Updates Rate Increases
Feb 15 2024 // Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million. The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following several months of low...
Allstate Reverses Q4 Loss With Benefit of Low Cat Losses, Auto Rate Increases
Feb 8 2024 // Allstate Corp. fourth quarter 2023 net income attributable to common shareholders was about $1.5 billion, reversing a loss of $303 million during the same time the prior year. Allstate CEO Tom Wilson said “improved...
Allstate Q4 2023 Reserve Charge Near $200M
Jan 19 2024 // Allstate offered some preliminary details of factors that impacted fourth-quarter 2023 earnings—among them a $199 million non-catastrophe reserve charge. The carrier said the figure representing unfavorable prior year...
Allstate Doesn’t Owe for Diminished Value; Farm Bureau Barred from Subro, Courts Say
Jan 17 2024 // Two court rulings in Southeastern states have underscored insurers’ responsibilities under uninsured motorist laws. In a Mississippi class-action lawsuit, the U.S. 5th Circuit Court of Appeals found that Allstate...
People Moves: Allstate Names Fiato EVP and Chief Claims Officer; TNEDICCA Names Progressive’s Pratt to Board
Jan 12 2024 // Allstate, headquartered in Northbrook, Ill., named Mike Fiato as executive vice president and chief claims officer, effective Jan. 22. Fiato joins Allstate with more than 32 years of industry experience. Most recently, he...
People Moves: AXIS Appoints Tan Head of Wholesale Casualty; Fiato Named Allstate Chief Claims Officer; Schoberth to Lead Canopius US Distribution
Jan 12 2024 // AXIS Capital Holdings Limited named Anna Tan as head of wholesale casualty. Tan joins AXIS from Navigators, a brand of The Hartford, where she served for over 12 years, most recently as head of excess casualty. Before...
Allstate Sues Florida Pain Clinics, Alleging Millions in Fraudulent Billings
Jan 2 2024 // After an Allstate Insurance investigation alleged that a well-known Florida pain clinic had conspired with an injury law firm and had fraudulently billed the auto insurer for unnecessary surgeries and risky procedures,...
Mission Accomplished: Allstate Announces Calif., NY, NJ Rate Approvals
Dec 18 2023 // The departments of insurance in California, New York and New Jersey approved double-digit auto rate increases for Allstate in the three states that the carrier considered exiting in the absence of approvals, the...
Regulatory Battles In Personal Lines Ahead; Allstate May Drop Customers
Dec 8 2023 // Analysts from Standard & Poor’s predicted this week that while personal auto results are starting to stabilize, the continued push for rate in 2024 will set the stage for more faceoffs between regulators and...
Former Allstate Agent in North Carolina Agrees to Abide by Non-Compete Agreement
Nov 28 2023 // A former Allstate insurance agent in North Carolina has agreed to stop selling competing products to her former clients and to return confidential client information to Allstate. A federal judge finalized an agreement...
Allstate, Allianz X Invest $265M in NEXT Insurance and Partner to Expand Reach
Nov 2 2023 // NEXT Insurance said Allstate and Allianz X have invested $265 million in the digital small business insurer. NEXT and Allstate will partner on bringing new commercial products to what they call an underserved target market...
Allstate Shows ‘Progress,’ Narrows Q3 Net Income Loss to $41M
Nov 2 2023 // Allstate Corp. said its net loss for the third quarter was $41 million compared to a loss of $685 million during the same time a year ago. The Northbrook, Illinois-based insurer recorded an improvement in its third quarter...
Allstate Says Q3 Catastrophe Losses Were $1.2 Billion
Oct 19 2023 // Allstate Corp. today reported September catastrophe losses of $317 million and total catastrophe losses for the third quarter of about $1.2 billion pretax. Seventeen events in September resulted in catastrophe losses of...
Allstate Records About $640M in August Cat Losses, Half From Maui Wildfire
Sep 21 2023 // Allstate reported about $641 million in August catastrophe losses from 18 events, with about half coming from the Maui wildfire. The losses for the month of August were $551 million or $435 million, after-tax, partially...
