Allstate Reports Estimated Pre-tax Catastrophe Losses Of $317 Mln For September

(RTTNews) - Allstate Corp. (ALL), an insurance firm, on Thursday reported estimated catastrophe losses for the month of September of $317 million or $250 million, after tax.

September month catastrophe losses include 17 events estimated at $357 million, with around 80 percent of the losses related to two wind and hail events.

For the third quarter, the company posted total catastrophe pre-tax losses of $1.18 billion.

During the month of September, the Allstate brand implemented auto rate increases of 4.5 percent across 9 locations, resulting in a total brand premium impact of 0.9 percent.

Jess Merten, CFO of Allstate, said: "Since the beginning of the year, rate increases for Allstate brand auto insurance have resulted in a premium impact of 9.5%, which are expected to raise annualized written premiums by approximately $2.46 billion, and rate increases for Allstate brand homeowners insurance have resulted in a premium impact of 9.5%, which are expected to raise annualized written premiums by approximately $971 million…"