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Stock impact report

Allstate Announces May 2022 Catastrophe Losses and Implemented Auto Rates

Allstate Corporation (The) (ALL) 
Last allstate corporation (the) earnings: 2/4 06:08 pm Check Earnings Report
US:NYSE Investor Relations: allstateinvestors.com
Company Research Source: Business Wire
NORTHBROOK, Ill.--(BUSINESS WIRE)--The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of May of $436 million or $344 million, after-tax. May catastrophe losses included 14 events, primarily wind and hail in Texas, the Midwest and Canada, estimated at $423 million, plus unfavorable reserve reestimates for prior period events. Catastrophe losses for April and May totaled $752 million, pre-tax.“Allstate continued to implement meaningful rate actions in response to ongoing inflationary impacts on auto insurance severities. During the month of May, the Allstate brand implemented rate increases of 9.3% across 13 locations, resulting in total Allstate brand insurance premium impact of 0.7%. We have implemented 78 rate increases averaging approximately 8.1% across 49 locations since the beginning of the fourth quarter 2021. Allstate brand implemented auto rate increases totaled $180 million in the month of May and $343 million quarter to date, Show less Read more
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