Allstate Corp. announced Thursday June catastrophe losses of more than $1 billion, and said it has raised premiums on home and auto insurance “to improve...
Allstate Corp. ALL announced Thursday June catastrophe losses of more than $1 billion, and said it has raised premiums on home and auto insurance “to improve profitability.” The company said catastrophe losses were estimated to be $1.01 billion in June, and $2.70 billion for the second quarter. The losses for June include 18 “events,” with about 60% of the losses related to four wind and hail events.
01 billion in June, and $2.70 billion for the second quarter. The losses for June include 18 “events,” with about 60% of the losses related to four wind and hail events. “Allstate continued to implement significant auto and homeowners insurance rate actions as part of our comprehensive plan to improve profitability,” said Chief Financial Officer Jess Merten. For June, the company said it raised auto rates by 11.6% across 12 locations, resulting in a total brand premium increase of 2.6%.
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