Latest Allstate Headlines
All the headlines from our Allstate Topic Page, ordered by recency.
Allstate Wins Trade Secret Tiff With Former Agents
Sep 8 2023 // Allstate Insurance has emerged victorious in litigation against two of its former exclusive agents who retained and used Allstate spreadsheets with policyholder information after the insurer terminated their agency...
Allstate Starts Q3 With $313M in Catastrophe Losses in July
Aug 18 2023 // Allstate Corp. said estimated catastrophe losses for the month of July were $313 million or $247 million, after-tax. July has 18 events, highlighted by widespread wind and hail storms, with estimated losses of about $349...
Allstate Agrees to Settle With Shareholders for $90 Million
Aug 17 2023 // To settle a years-long securities class action lawsuit against it, Allstate Corp. has agreed to set up a $90 million fund for shareholders who accused the insurer of false and misleading statements regarding its auto...
Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B
Aug 1 2023 // Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President...
Allstate Loses $17M NC Job Incentive Plan Due to So Many Remote Workers
Jul 27 2023 // Allstate Insurance is no longer eligible for one of the largest incentive packages from the state of North Carolina, created when Allstate pledged to add more than 2,200 workers in Charlotte. The insurance carrier said too...
Barring Change, Allstate May Exit California Property Market Completely
Jul 25 2023 // The topic of a recent California insurance department workshop was the potential use of catastrophe modeling in ratemaking, but carrier representatives and consumers took the opportunity to air concerns about other...
Update: Allstate Estimates Catastrophe Losses of $1 Billion in June, $2.7 Billion in Q2
Jul 20 2023 // Allstate Corp. announced estimated catastrophe losses for the month of June of $1.01 billion, or $799 million, after-tax. June’s month catastrophe losses include 18 events estimated at $1.13 billion, with...
Allstate Announces May Catastrophe Losses, Auto Rate Hikes
Jun 15 2023 // Allstate Corp. today released estimated catastrophe losses for the month of May of $885 million or $699 million, after-tax. There were a dozen events in May causing $893 million in catastrophe losses, Allstate said, but...
Fitch Downgrades Allstate’s IFS Ratings to ‘A’
May 23 2023 // Citing declines in statutory capital and poor underwriting results in personal auto, Fitch Ratings has downgraded the insurer financial strength ratings of Allstate P/C insurance subsidiaries to “A” (Strong)...
Allstate Posts Loss With ‘Exceptionally’ High Catastrophe Costs
May 4 2023 // Allstate Corp. posted a bigger first-quarter loss than analysts expected as higher premiums failed to offset rising auto costs and soaring catastrophe losses. The company reported a $342 million loss on an adjusted basis...
Allstate Estimates $1.7 Billion in Q1 Catastrophe Losses
Apr 20 2023 // Allstate Corp. said pre-tax catastrophe losses for the first quarter are expected to be about $1.7 billion, with about $1.3 billion occurring during the month of March. Losses in March were attributed to 10 events with 75%...
Judge Allows Roberto Clemente Jr. Agency Fraud Claim Against Allstate
Apr 19 2023 // The son of the late Major League Baseball Hall of Famer Roberto Clemente alleges that Allstate Insurance Co. committed fraud when it cancelled his family agency’s agreement after accusing them of fraud for using auto...
Credit Outlook for Allstate’s Florida Unit is Negative, Reflects Deteriorated Surplus
Mar 14 2023 // The AM Best financial rating firm’s tepid outlook for Allstate’s Florida subsidiaries, Castle Key Insurance Co. and Castle Key Indemnity Co., has raised new questions about the subsidiaries’ and their...
Allstate CEO Sees Untapped Opportunity in Direct-to-Consumer Homeowners Market
Mar 6 2023 // When Allstate’s chief executive officer looks at potential growth opportunities for personal lines insurers, he sees an untapped part of the homeowners insurance market — customers that will buy home insurance...
Allstate’s Plan to Return to Profit in Auto
Feb 20 2023 // Following a year of turbulence in its auto insurance business, Allstate Corp. outlined what CEO Tom Wilson called the company’s number one priority: improve margins. Allstate ended 2022 with an unprofitable 110.1...
Allstate: $307M in January Cat Losses and Keeps the Auto Rate Hikes Coming
Feb 17 2023 // Allstate Corp. said it estimated catastrophe losses for the month of January of $307 million, or $243 million after-tax from nine events primarily in Texas and California. Catastrophe losses for the January events were...
Why Not Go Direct on Homeowners, Allstate CEO Asks
Feb 15 2023 // When Allstate’s chief executive officer looks at potential growth opportunities for personal lines insurers, he sees an untapped part of the homeowners insurance market—customers that will buy home insurance...
Allstate’s Plan to Return to Profit in Auto
Feb 6 2023 // Following a year of turbulence in its auto insurance business, Allstate Corp. outlined what CEO Tom Wilson called the company’s number one priority: improve margins. Allstate ended 2022 with an unprofitable 110.1...
Allstate Reports $310M Q4 Loss as Auto Claims Costs Motor Past Rate Hikes
Feb 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...
Allstate’s Castle Key Plans to Drop 33,000 Condo Policies in Florida
Jan 30 2023 // At least one of Allstate Insurance group’s Florida subsidiaries plans to non-renew 33,000 Florida condominium policies, starting in June. In a notice sent to Florida agents this month, Allstate said its Castle Key...
