Allstate (ALL) Announces July 2022 Catastrophe Losses and Implemented Auto Rates

The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of July of $223 million or $176 million, after-tax. July catastrophe losses included 12 events, primarily wind and hail, that were geographically widespread, estimated at $233 million, partially offset by favorable reserve reestimates for prior period events.

“Allstate will continue to implement significant rate actions in the second half of 2022 in response to inflationary increases to auto insurance severities. During the month of July, the Allstate brand implemented rate increases of 8.9% across 6 locations, resulting in total Allstate brand insurance premium impact of 1.0%. We have implemented 64 rate increases averaging approximately 9.0% across 51 locations since the beginning of the year. Allstate brand implemented auto rate increases totaled $240 million in the month of July, after implementing $1.5 billion in the previous two quarters,” said Mario Rizzo, Chief Financial Officer of The Allstate Corporation. Our implemented auto rate exhibit has been posted on allstateinvestors.com.

Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.

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