The Allstate Corporation (ALL-PI)

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Allstate (ALL) Unveils May Cat Loss Estimates, Pursues Rate Hikes

Though continued incidence of catastrophe losses can hurt Allstate's (ALL) underwriting results, it remains well-poised to counter them with frequent rate hikes.

Allstate Announces May 2022 Catastrophe Losses and Implemented Auto Rates

NORTHBROOK, Ill., June 16, 2022--The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of May of $436 million or $344 million, after-tax. May catastrophe losses included 14 events, primarily wind and hail in Texas, the Midwest and Canada, estimated at $423 million, plus unfavorable reserve reestimates for prior period events. Catastrophe losses for April and May totaled $752 million, pre-tax.