Allstate says inflation and auto severity led to adverse reserve changes
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Allstate says inflation and auto severity led to adverse reserve changes

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Allstate has reiterated its position that inflation’s impact on auto severity and loss trends led it to book adverse reserve development charges, according to management comments on a special investor call, providing further data that physical auto damage payouts for AY 2021 exceeded expectations by $300mn.

Friday’s special investor call centered around claims and reserve practices and added color to the company’s adverse reserve development of $875mn in Q3 2022. Of

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