U.S. main insurance company Allstate has actually revealed approximated disaster losses for May of $885 million or $699 million, after-tax.
This was partly balanced out by beneficial reserve reestimates for previous occasions, the reinsurer said.
Last month, Allstate approximated disaster losses at $799 million or $631 million, after tax.
This suggests overall disaster losses for April and May integrated were $1.68 billion, pre-tax.
Also throughout May, the Allstate brand name carried out vehicle rate boosts of 9.3% throughout 15 places, leading to an overall brand name premium effect of 1.6%.
Jess Merten, Chief Financial Officer of The Allstate Corporation, commented, “Allstate continued to execute considerable vehicle insurance coverage rate actions as part of our detailed strategy to enhance success.
“Since the beginning of the year, rate increases for Allstate brand auto insurance have resulted in a premium impact of 4.9%, which are expected to raise annualized written premiums by approximately $1.28 billion.”
