Allstate

Sequentially, the combined ratio improved 1.6 points from 98.9% in Q4 2021.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The personal lines giant reported Q1 unfavorable non-cat prior year reserve re-estimates of approximately $160mn, driven by auto physical damage and bodily injury severity.

March’s CPI report shows elevated inflation levels, including vehicle CPI of 10.5% and average used car price increase of 24.7%.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The insurer plans to take more rate throughout the year.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The firm reported quarterly earnings featuring disappointing personal auto loss cost trends.

The carrier shifted to average Q3 rate hikes of 7.1%, after trimming rates to start 2021 in response to drop in frequency, improvements to expense structure.

The insurer also took a $187mn reserve charge, as it's core loss ratio spiked, and catastrophe losses rose from Q4 in 2020.

Colorado’s Marshall Fire is expected to cost the company $218mn, while the convective storm that devastated four states, including Kentucky, will contribute around $79mn in claims.

The latest report shows even higher inflation pushing up severity, forcing carriers to take rate.