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You are here: Home / News / Allstate Reports Loss in Third Quarter Due to Higher Claims Costs, Reserve Reestimates and Lower Investment Income

Allstate Reports Loss in Third Quarter Due to Higher Claims Costs, Reserve Reestimates and Lower Investment Income

November 3, 2022 By CollisionWeek Editor

Collision claim severity up 17% versus 2021.

The Allstate Corporation (NYSE: ALL) reported total revenues of $13.2 billion in the third quarter of 2022 increased 5.8% compared to the prior year quarter reflecting a 9.8% increase in Property-Liability earned premium, partially offset by net losses on investments and derivatives in 2022 compared to net gains in 2021 and lower net investment income.

The Net loss applicable to common shareholders was $694 million in the third quarter of 2022 compared to income of $508 million in the prior year quarter, primarily due to an underwriting loss and equity valuation declines.

It

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Filed Under: News Tagged With: Allstate Insurance, Claims Severity, Earnings

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