Allstate

Catastrophe losses for the month fell to $195mn, a sharp drop from the prior year’s $752mn.

Following strong year-to-date performance, P&C stocks were down in June after a change of tone in a Fed meeting.

Travelers, Liberty Mutual, State Farm and Allstate announced suspension of donations in January, but have now re-started financial backing for elected officials.

The personal lines giant's best approach to growth may be sticking to its proven strengths.

The executive pointed out to attendees that the cost differences between direct-to-consumer tech platforms and an agency force need to be weighed against different levels of service.

The figure was significantly down on the prior month’s $544mn, and also came in 39% below the year-ago loss tally.

Personal auto carriers lowered rates in response to 2020’s loss cost trends, but chasing market share now could be a mistake.

New CEOs were not able to consistently create higher book value growth than their predecessors, and any growth achieved wasn’t maintained after five years.

The personal lines giant announced a $300mn deal last night to buy non-standard auto writer SafeAuto.

Activist investor Carl Icahn now owns $400mn of Allstate shares.

Continued capital depletion could result in additional pressure on management teams with regard to executing their original business plans.

The monthly tally came in 14% lower than the $632mn reported a year ago.