Allstate publishes February numbers

Allstate publishes February numbers | Insurance Business America

Insurance News

Allstate publishes February numbers

Estimated cat losses below reporting threshold

Insurance News

By
Terry Gangcuangco

Allstate has reported some key statistics for the previous month.

In its update, the insurance giant said: “The Allstate Corporation announced that estimated catastrophe losses were below the $150 million reporting threshold for February 2024.

“Rate increases for Allstate brand auto insurance resulted in a premium impact of 0.1% for the month of February and 1.5% year-to-date. Rate increases for Allstate brand homeowners insurance have resulted in a premium impact of 2.4% for the month of February and 2.7% year-to-date.

“Implemented rate increases and inflation in insured home replacement costs resulted in a 12.4% increase in homeowners insurance average gross written premium in February 2024 compared to the prior year.”

In February, Allstate’s board approved a quarterly dividend of $0.92 – a 3.4% increase per share compared to the previous quarter. The company also declared the payment of quarterly preferred dividends.

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Photo: Mike Mozart, licensed under the creative commons 2:0 license.