AI English summary of an SEC filing — figures as filed
Allstate ALLThe company said on April 18, 2024 that it estimated catastrophe losses for the month of March at $328 million pre-tax, or $259 million after-tax.
Key points
AI summaryThe company said on April 18, 2024 that it estimated catastrophe losses for the month of March at $328 million pre-tax, or $259 million after-tax.
Allstate said the March losses included 6 events, totaling $343 million pre-tax, or $271 million after-tax. About 80% of the losses were related to one hail event, partially offset by favorable reserve reestimates for prior events. Total catastrophe losses for Q1 were $731 million pre-tax.
The company said rate increases for Allstate brand auto insurance had a premium impact of 0.9% for the month of March and 2.4% year-to-date. For homeowners insurance, it said the premium impact was 0.7% for March and 3.4% year-to-date.
Allstate said implemented rate increases and inflation in insured home replacement costs increased average gross written premium for homeowners insurance by 11.9% in March 2024 compared with the prior year.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Estimated Catastrophe Losses for March
The company said on April 18, 2024 that it estimated catastrophe losses for the month of March at $328 million pre-tax, or $259 million after-tax.
Source · Based on the filing body and exhibits
March Catastrophe Event Mix and Q1 Total
Allstate said the March losses included 6 events, totaling $343 million pre-tax, or $271 million after-tax. About 80% of the losses were related to one hail event, partially offset by favorable reserve reestimates for prior events. Total catastrophe losses for Q1 were $731 million pre-tax.
Source · Based on the filing body and exhibits
Premium Impact of Allstate Brand Rate Increases
The company said rate increases for Allstate brand auto insurance had a premium impact of 0.9% for the month of March and 2.4% year-to-date. For homeowners insurance, it said the premium impact was 0.7% for March and 3.4% year-to-date.
Source · Based on the filing body and exhibits
Average Homeowners Gross Written Premium Increase
Allstate said implemented rate increases and inflation in insured home replacement costs increased average gross written premium for homeowners insurance by 11.9% in March 2024 compared with the prior year.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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