Allstate underwriting profits drop 50% as attritional LR jumps amid reopening
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Allstate underwriting profits drop 50% as attritional LR jumps amid reopening

James Thaler
August 04, 2021
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Aerial view of downtown Chicago

Allstate’s P&C underwriting profits fell by more than 50% in the second quarter to $429mn as the company’s underlying loss ratio soared by almost 17 points, rising above its pre-pandemic level in the second quarter of 2019.

On Wednesday, the Illinois-based personal lines specialist reported $3.79 ($1.2bn) in operating earnings per share, an almost 50% jump from the $2.58

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