Allstate
-
Reduced accident development led to a prior underestimate in the December frequency benefit. -
The carrier says the divestment will reduce its GAAP reserves by $23bn.
-
Karfunkel family shareholders had sold a roughly 40% NatGen stake as part of the $4bn deal.
-
The early January close rests on achieving regulatory approvals by the end of December.
-
Plaintiffs including State Farm, USAA and Allstate argued the fires were the fault of the US National Park Service.
-
Almost all losses stemmed from hurricanes Delta and Zeta.
-
The personal lines giant's growth is in focus as the market looks for progress on its embrace of the direct channel.
-
The carrier’s $990mn catastrophe loss in Q3 is net of $495mn in subrogation from a settlement with PG&E.
-
The carrier's Hurricane Laura loss has risen close to its occurrence treaty trigger.
-
The rideshare company has also deepened its existing partnership with Progressive.
-
The vote follows the news that Allstate is cutting 3,800 jobs across its business.
-
The personal lines giant is making the cuts in a bid to keep its expense ratio down.
Related
-
July cat heatmap: Hope for the best, but prepare for the worst
August 25, 2025 -
InsurTech: Doing whatever it takes to survive
August 21, 2025 -
Allstate estimates $619mn in pre-tax cat losses for June
July 17, 2025