Allstate falls to $534mn underwriting loss as cats bite, frequency picks up
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Allstate falls to $534mn underwriting loss as cats bite, frequency picks up

James Thaler
November 03, 2021
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Aerial view of downtown Chicago

Personal lines giant Allstate fell to a $534mn underwriting loss in its property-liability division, hurt by higher catastrophe losses, a $163mn reserve charge and higher claims frequency as economic activity returns to normal levels.

On Wednesday, the Illinois-based carrier said it generated $0.73 in adjusted earnings per share, a nearly 75% decline from a year ago when the company benefitted from a drop off in claims frequency last year as the pandemic continued...

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