Allstate Corp said it expects to report a third quarter net loss of of between $675 million and $725 million with pre-tax catastrophe losses, net of reinsurance, of $763 million. Catastrophe losses net of reinsurance for September were an estimated …
Higher auto loss costs are here to stay, according to the leader of Allstate, who also said that his company will be pushing up auto insurance prices higher, and at a faster pace, for the balance of the year. Speaking …
The Georgia insurance commissioner is publicly shaming one of the country’s largest auto insurers after the carrier announced an average 25% rate increase in the state. “I am angry and disappointed that Allstate has chosen to exploit a loophole in …
Allstate announced August 18 that Glenn Shapiro, president, Property-Liability, has decided to retire at the end of September. He joined Allstate as chief claims officer in 2016 and has held his current position since 2018. Current chief financial officer Mario …
Allstate Corp. said it is accelerating its plan to increase auto insurance rates as it reported unprofitable results for the second quarter. Allstate booked a net loss of $1.04 billion in the second quarter compared with a net income profit …
When Warren Buffett told Berkshire Hathaway investors that State Farm continues to dominate the large auto insurance carrier landscape during this year’s annual meeting, he was referring to scale rather than customer satisfaction scores. But State Farm wins on that …
Rate increases in Allstate’s auto insurance business are in integral part of the insurer’s overall plan to address the impact of inflation. Wednesday during a conference call with analysts to discuss first-quarter earnings, CEO Tom Wilson said Allstate’s strategy dubbed …
First quarter 2022 insurance premiums earned grew 6.5% to about $11 billion at Allstate Corp., as net income was $630 million compared with a loss of about $1.4 billion during the first three months of 2021. CEO Tom Wilson said …
Allstate said it is raising auto insurance rates more due to continued upticks in physical damage and bodily injury severity. The personal property insurer said in a statement on April 21 that first quarter unfavorable non-catastrophe prior-year reserves re-estimates were …
For the second time this month, a personal auto insurance giant devoted an investor conference to the topic of rate hikes, with Allstate executives also assuring listeners the carrier has various other tools to return to profitability. “Looking back to …
