Allstate: February estimated catastrophe losses below $150M reporting threshold

The Allstate Corporation announced that estimated catastrophe losses were below the $150M reporting threshold for February 2024. Rate increases for Allstate brand auto insurance resulted in a premium impact of 0.1% for the month of February and 1.5% year-to-date. Rate increases for Allstate brand homeowners insurance have resulted in a premium impact of 2.4% for the month of February and 2.7% year-to-date. Implemented rate increases and inflation in insured home replacement costs resulted in a 12.4% increase in homeowners insurance average gross written premium in February 2024 compared to the prior year.