Allstate lays out plan to return to target auto margins after Q4 reserve charge
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Allstate lays out plan to return to target auto margins after Q4 reserve charge

Aerial view of downtown Chicago

Allstate CEO Tom Wilson has called for a focus on corrective actions following its large Q4 loss preannouncement.

"Higher auto insurance prices were not sufficient to overcome increased loss costs and reserve increases," Wilson said.

"The comprehensive plan to return auto insurance margins to target levels continues to be implemented in 2023 and is expected to further increase...

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