Allstate News
Allstate Shows ‘Progress,’ Narrows Q3 Net Income Loss to $41M
Allstate Corp. said its net loss for the third quarter was $41 million compared to a loss of $685 million during the same time a year ago.
Allstate Records About $640M in August Cat Losses, Half From Maui Wildfire
Allstate reported about $641 million in August catastrophe losses from 18 events, with about half coming from the Maui wildfire. The losses for the month of August were $551 million or $435 million, ...Rate Hikes Not Bringing Profit to U.S. Auto Insurers: Fitch
Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine ...Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B
Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and ...
Regulatory Weaknesses, Politics Driving California Exits, Industry CEOs Say
A trio of property/casualty carrier executives voluntarily offered their views on a growing insurance availability crisis in the state of California at an industry conference in late June, pointing ...Climate Change and Homeowners Insurance Are on a Collision Course
A summer that already has seen water crises and wildfire smoke is rapidly becoming an inflection point in the pitched battle between climate change and the price of ...
California, Other States Rattled by Insurance Carrier Withdrawals
Two insurance industry giants have pulled back from California's home insurance marketplace, saying that increasing wildfire risk and soaring construction costs have prompted them to stop writing new ...Homeowners Insurer Retreat Signals Climate, Regulatory and Economic Challenges: Fitch Ratings
The recent retreat of large homeowners insurance carriers, like Allstate and State Farm, from the California property insurance market signals ongoing regulatory constraints, rising cost inflation ...Fitch Downgrades Allstate’s IFS Ratings to ‘A’
Citing declines in statutory capital and poor underwriting results in personal auto, Fitch Ratings has downgraded the financial strength ratings of Allstate P/C insurance ...