NORTHBROOK, Ill., May 18, 2023 – The Allstate Corporation (NYSE: ALL) today announced a loss of $799 million or $631 million, after tax, for the month of April.
Damage for the month of April included 12 events estimated at $872 million, with approximately 60% of the damage related to two wind and hail events, which were partially offset by a positive estimate of the reserves that occurred earlier.
In April, the Allstate brand increased traffic by 8.6% at 13 locations, bringing the brand’s overall improvement to 1.6%.
“Allstate has continued to leverage its large auto insurance portfolio as part of our profitable growth plan. Year-to-date, Allstate-branded auto insurance sales have increased 3.3%, which is expected to increase annual written revenue by approximately $862 million,” said Jess Merten, Chief Financial Officer. Officer of The Allstate Corporation. Our established auto shows are posted on allstateinvestors.com.
Financial information, including announcements about The Allstate Corporation, is posted regularly at www.allstateinvestors.com.
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This article contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are uncertain. These forward-looking statements are made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not necessarily historical or current and may be identified by the use of words such as “plans,” “intends,” “expects,” “will,” “should.” ,” “expects,” “estimates,” “intends,” “believes,” “may,” “intends” and other words with similar meanings. We believe these words are based on reasonable estimates, assumptions and plans. However, as estimates, assumptions or plans underlying forward-looking statements prove to be incorrect or if certain risks or uncertainties arise, actual results could differ materially from those expressed in these forward-looking statements. Factors that could cause actual results to differ from those expressed, or implied, expectations, can be found in our filings with the US Securities and Exchange Commission, including the “Risk Factors” section of our most recent annual report. on Form 10-K. Forward-looking statements are made as of the date they are made, and we assume no obligation to update or revise any forward-looking statements.
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