Allstate acquisition of NatGen “exceeding” expectations despite reserve strengthening

Published: Wed 6 Sep 2023

Allstate’s acquisition of National General is “exceeding” the personal lines giant’s expectations despite the unit seeing its underwriting loss deepen by $210mn to $248mn in Q2 2023, primarily driven by $148mn of prior year reserve re-estimates largely related to personal auto injury coverages in the 2022 accident year.