NORTHBROOK, Ill., April 18, 2024 – The Allstate Corporation (NYSE: ALL) released information regarding their March and first quarter 2024 catastrophe losses and implemented rates.

According to the Allstate Corporation, the March month catastrophe losses totaled $328 million or $259 million after-tax. These losses stemmed from six events, with the majority of the losses, approximately 80%, attributed to one hail event. These losses were partially offset by favorable reserve reestimates for prior events.

The total catastrophe losses for the first quarter of 2024 amounted to $731 million pre-tax.

In terms of rate adjustments, the Allstate brand auto insurance saw a premium impact of 0.9% for the month of March and 2.4% year-to-date. Similarly, rate increases for Allstate brand homeowners insurance led to a premium impact of 0.7% for March and 3.4% year-to-date.

Moreover, implemented rate increases and inflation in insured home replacement costs resulted in an 11.9% increase in homeowners insurance average gross written premium in March 2024 compared to the previous year.

Allstate Corporation also shared that their implemented rate exhibit for auto and homeowners insurance has been made available on www.allstateinvestors.com.

The company reminded stakeholders that financial information and significant announcements can be accessed on their official website.

The news release ended with a disclaimer regarding forward-looking statements, emphasizing the uncertainties and risks involved in anticipating results based on estimates and assumptions.

The Allstate Corporation stated, "Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission."

The company reiterated that forward-looking statements are subject to change and they assume no obligation to update or revise any forward-looking statement.