Northbrook, IL, November 16, 2023 – Allstate Corporation (NYSE: ALL) today announced auto and homeowners insurance rates effective in October 2023.
“As part of our comprehensive plan to improve profitability, Allstate continues to implement significant auto and homeowners insurance rate actions. Rate increases for Allstate-branded auto insurance since the beginning of the year have resulted in a premium impact of 10.4% and are expected to The annualized underwritten premium will increase by approximately US$2.7 billion. The increase in Allstate brand home insurance rates will have a premium impact of 9.6%. It is expected that the annualized underwritten premium will increase by approximately US$982 million. Jess Merten, Chief Financial Officer of Allstate Corporation, said: “In October 2023, the housing insurance premium will increase by approximately US$982 million.” Average total written premiums for insurance increased 12.2% over last year.” Our implementation rate schedules for auto and home insurance are posted at www.allstate.com. allstateinvestors.com.
Allstate expects catastrophe losses in October 2023 to be below the $150 million reporting threshold.
Financial information, including important announcements about The Allstate Corporation, is regularly posted at www.allstateinvestors.com.
This press release contains “forward-looking statements” that predict results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may appear to be statements that do not relate strictly to historical or current facts and may be identified through the use of words such as “plans,” “seeks,” “expects,” “will,” “should,” “anticipates,” “estimates,” etc. words to identify. “Intend,” “believe,” “may,” “aim,” and other words of similar meaning. We believe that these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or planning statements underlying the forward-looking statements prove to be inaccurate or if other risks or uncertainties materialize, actual results may differ materially from those conveyed in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements may be found in our filings with the Securities and Exchange Commission, including under “Risk Factors” in our most recent Annual Report on Form 10-K part. Forward-looking statements speak as of the date they are made, and we assume no obligation to update or revise any forward-looking statement.
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