Allstate blames persistency of auto loss trends for adverse reserve development in Q3
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Allstate blames persistency of auto loss trends for adverse reserve development in Q3

Kyoung-son Song
November 03, 2022
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Allstate management said that the “persistent nature” of severity auto loss trends has led the company to book adverse development charges for the second consecutive quarter, largely impacted by major injuries, increased settlement costs and greater variability in case reserves.

Speaking on a call with analysts, CEO Tom Wilson said that “people do reserving [in] all sorts of different ways,” adding that this quarter, the company strengthened its reserves largely due to the injury trends that it saw.

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Kyoung-son Song
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