Allstate reports March cat losses of $1.17B, Q1 total $1.69B; approves 6.9% CA rate hike

ALLSTATE CORP

March catastrophe losses pre-tax $1.17B ($927M after-tax); Q1 total $1.69B pre-tax.
Allstate brand March auto rate increase 7.6% in 10 locations; YTD premium impact 1.7% ($454M annualized).
California DOI approved 6.9% Allstate brand auto rate increase, to be implemented April, effective June 2023.
Unfavorable prior year reserve reestimates (ex-cat) $27M in Q1, $23M from commercial exited business.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.4

ALLSTATE CORP reported preliminary financial results for March 2023 and first quarter 2023.

Period: March 2023 and first quarter 2023
Result: preliminary results

Exact text from the filing

The Registrant’s press release dated April 20, 2023, announcing estimated catastrophe losses for March 2023 and first quarter 2023, implemented auto rates and prior year reserve reestimates and the Registrant’s implemented auto rate exhibit for March 2023 are posted on allstateinvestors.com and are attached hereto as Exhibit 99.1 and 99.2 which are incorporated herein by reference.

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Source: SEC EDGAR

accession 0000899051-23-000031

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