Allstate slashes Q2 UW loss to $145mn from $2.1bn as underlying LR improves 850 bps

Published: Thu 1 Aug 2024

Allstate narrowed its second quarter underwriting loss to $145mn from $2.1bn a year ago, driven by 850 basis points (bps) of improvement in its core loss ratio to 64.4 percent, as cat losses fell by 21 percent and the personal lines giant took a $66mn reserve charge.