The Allstate Corporation (NYSE: ALL) announced its catastrophe losses, implemented auto insurance rate increases and reserve reestimates for March and first quarter 2023. Allstate was the fourth largest private passenger auto insurance company in 2022 based upon direct premiums written.
Estimated catastrophe losses for the month of March of $1.17 billion or $927 million, after-tax.
Catastrophe losses for March events were estimated at $1.26 billion, related to 10 events, with approximately 75% of the losses related to three wind events, partially offset by favorable reserve reestimates for prior events. Catastrophe losses for the first quarter totaled $1.69 billion, pre-tax.
During
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