We provide the latest news
from the world of economics and finance
(RTTNews) - Insurer Allstate Corp. (ALL) announced Thursday estimated catastrophe losses for the month of March 2024 of $328 million or $259 million, after-tax. Total catastrophe losses for the first quarter were $731 million, pre-tax.
Catastrophe losses in March include six events estimated at $343 million or $271 million, after-tax, with approximately 80% of the losses related to one hail event, partially offset by favorable reserve reestimates for prior events.
Allstate said it rate increases for Allstate brand auto insurance resulted in a premium impact of 0.9% for the month of March and 2.4% year-to-date.
Meanwhile, rate increases for Allstate brand homeowners insurance have resulted in a premium impact of 0.7% for the month of March and 3.4% year-to-date.
The company said implemented rate increases and inflation in insured home replacement costs resulted in a 11.9% increase in homeowners insurance average gross written premium in March 2024 from last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
© 2024 Lime Trading (CY) Ltd
Lime Trading (CY) Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission in accordance with license No.281/15 issued on 25/09/2015. The "Just2Trade" trademark is owned by LimeTrading (CY) Ltd.
Registration Number: HE 341520
Address: Lime Trading (CY) Ltd
Magnum Business Center, Office 4B, Spyrou Kyprianou Avenue 78
Limassol 3076, Cyprus
Disclaimer:
All promotions, materials and information of this website may have applied conditions. Please contact the Company for further details
Trading on financial markets carries risks. The value of the investments can both increase and decrease and the investors may lose all their investment capital. In case of a leveraged product, the loss may be more than the initial capital invested. Detailed information on risks associated with trading on financial markets can be found in General Terms and Conditions for the Provision of Investment Services..