The Allstate Corporation announced that its estimated catastrophe losses in February 2024 were under the $150 million reporting threshold. A surge in Allstate brand auto insurance rates resulted in a 0.1% premium impact for February and 1.5% for the year-to-date.
The Corporation noted that rate hikes paired with inflation in insured home replacement costs led to a 12.4% rise in the average gross written premium for homeowners' insurance in February 2024 compared to the same period in the previous year.
