NORTHBROOK, IL, Dec. 14, 2023 – Allstate Company (NYSE: ALL) at the moment introduced its November 2023 auto and householders insurance coverage protection charges.
“Allstate continues to advance its complete plan to enhance profitability. Because the starting of the 12 months, Allstate-branded auto insurance coverage charge will increase have impacted premiums by 11.4%, leading to an annualized Premiums are anticipated to extend by roughly $2.97 billion, pushed by premium will increase for Allstate-branded householders insurance coverage. The impression is 10.1%, or roughly $1.03 billion in annual written premiums. The common gross written premium for householders insurance coverage in November 2023 elevated by 12.6% in comparison with the earlier 12 months because of the applied charge hikes and insured house alternative value inflation.” mentioned Jess Marten, Chief Monetary Officer of Allstate Company. “Moreover, we lately acquired approval from the California, New York, and New Jersey Departments of Insurance coverage to extend charges on Allstate model auto insurance coverage by 30.0%, 14.6%, and 20.0%, respectively. We work with them to make sure that we will present ‘buyer safety’. These charges are scheduled to take impact in December 2024 with an efficient date of till February 2024. This charge is anticipated to extend annualized premiums by roughly $1 billion. ” Our auto and householders insurance coverage charges can be found at www.allstateinvestors.com.
Allstate’s estimated disaster losses have been under the November 2023 reporting threshold of $150 million.
Monetary details about Allstate Company, together with necessary bulletins, is posted periodically at www.allstateinvestors.com.
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