Allstate Announces August 2022 Implemented Auto Rates
NORTHBROOK, Ill., September 15, 2022 - The Allstate Corporation (NYSE: ALL) today announced implemented auto rates for August 2022.
"Allstate continues to implement significant rate actions in the second half of 2022 in response to inflationary increases to auto insurance severities. During the month of August, the Allstate brand implemented rate increases of 14.5% across 8 locations, resulting in total Allstate brand insurance premium impact of 3.2%. We have implemented 72 rate increases averaging approximately 10.3% across 51 locations since the beginning of the year. Allstate brand implemented auto rate increases totaled $777 million in the month of August and $2.5 billion year-to-date," said Jess Merten, Chief Financial Officer of The Allstate Corporation. Our implemented auto rate exhibit has been posted on allstateinvestors.com.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.
This news release contains "forward-looking statements" that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like "plans," "seeks," "expects," "will," "should," "anticipates," "estimates," "intends," "believes," "likely," "targets" and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.
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