Allstate

Sompo International adds Allstate’s Bohaty as general insurance COO

Sompo International’s global insurance division has appointed Brian Bohaty as chief operating officer.

Lyft’s expansion of insurance panel causes Axa XL’s participation to reduce

Lyft’s decision to broaden its insurers to include Allstate, Liberty Mutual and Mobilitas has reduced Axa XL’s dominance within the panel.

Lyft adds Allstate, Liberty Mutual and Mobilitas to insurance roster

Allstate, Liberty Mutual and Mobilitas have joined the roster of insurers that provide coverage to drivers of ride-sharing app Lyft, with the three companies understood to now be writing coverage across a combined 24 states.

Allstate to take $280mn restructuring charge for laying off 3,800 employees

US insurer Allstate has revealed it is cutting 3,800 jobs – about 8 percent of its workforce – and will take a $280mn charge as a result.

Allstate reveals $750mn accelerated share buyback agreement

Allstate has entered into an agreement with Goldman Sachs to buy back $750mn of its outstanding common stock under its $3bn repurchase programme.

Allstate reports August catastrophe loss bill of $985mn

Hurricane losses of $630mn represented close to two thirds of Allstate’s August pre-tax catastrophe loss bill of $985mn.

Allstate’s PG&E recoveries more than offset July cat losses

Allstate has become the latest carrier to benefit from subrogation recoveries on wildfire claims relating to the settlement with California utility PG&E, as it reported that catastrophe results for July generated income of $334mn pre-tax, including the $450mn recoveries.

Allstate property-liability CR improves by 6 points as auto losses decline

US personal lines giant Allstate reported a second quarter combined ratio in its core property-liability unit that dropped by 6.0 points to 89.8 percent as a decline in auto losses from fewer accidents and increased earned premiums more than offset shelter-in-place payback expense and higher cat losses.

Nat Gen beats Street as Q2 combined ratio improves 10.4pts

National General’s operating earnings per diluted share for 2020’s second quarter comfortably beat analyst estimates in a result which reflected both “continued strong underwriting” and the decline in miles driven by policyholders within its P&C segment.

Allstate Q2 cat losses reach $1.19bn

Allstate has estimated catastrophe losses for June of $204mn pre-tax, which brings its cat losses for the second quarter to $1.19bn.

Allstate to reverse independent agent business into NatGen to create top 5 player

Allstate’s proposed $4.0bn acquisition of National General will see it reverse merge its independent agent business including Encompass into the personal lines specialist to create a top five player in the $125bn premium segment.

Allstate agrees $4bn acquisition of NatGen

Allstate has agreed a $4bn cash deal to acquire National General Insurance in a move which will increase its share of the personal lines market by a percentage point and expand its distribution.

Allstate facing $350mn pre-tax cat hit in May

Allstate has estimated a pre-tax hit of $350mn from a series of catastrophe events that struck the US during May.

Allstate extends payback plan with others likely to follow

Allstate is extending its Shelter-in-Place Payback programme to the end of June in a move which will see the carrier return more than $1bn to customers over three months, as Wells Fargo Securities analysts predict other carriers will continue their own refund plans.

Analysts cut Allstate EPS forecasts on high $632mn April cat hit

US personal lines giant Allstate revealed estimated pre-tax catastrophe losses for April of $632mn that included a significant contribution from two severe wind and hail events that tore across half the states in the country.

Allstate confirms $250mn cat bond additions as core cat cover expands

Allstate added a modest $121mn of vertical limit to its giant 1 June-incepting per occurrence nationwide cat tower, which includes $250mn of cover from its new 2020-1 Sanders Re II Class A and B cat bond issues.

Allstate to continue share buybacks after Q1 earnings beat

US insurer Allstate has revealed it will continue share repurchases after reporting a 92.1 percent jump in underwriting income in the first quarter aided by a decline in auto losses.

New $150mn Allstate cat bond Sanders Re highlights Florida pricing pressure

In what is already proving an unusually busy second quarter for new catastrophe bonds, a proposed new Florida-focussed issuance from Allstate highlights the increased risk pricing demands for windstorm cat capacity in the sunshine state.

Allstate Q1 earnings to take $210mn hit in $600mn premium payback

US auto insurer Allstate has pledged to return 15 percent of premiums back to its personal auto insurance customers in April and May, resulting in a pay-out of more than $600mn that will dent the carrier’s first and second quarter earnings.

Allstate facing $58mn pre-tax cat hit in January

Allstate is facing an estimated pre-tax hit of $58mn from a series of catastrophe events that struck the US during January.

Region

Topics

Events & Conferences

Content Types