Allstate Corp. Reports $64M Catastrophe Losses in December, Policy Sales Up 0.2%
- Catastrophe Loss Overview: Allstate reported catastrophe losses of $64 million in December, post-tax, indicating significant financial pressure on the company in managing natural disaster impacts, which may affect future premium pricing strategies.
- Quarterly Loss Data: The total catastrophe losses for the fourth quarter reached $165 million after tax, suggesting that the company faced considerable risks during this period, potentially raising investor concerns about its risk management capabilities.
- Policy Sales Growth: The company sold 38,275 policies in December, a 0.2% increase from 38,207 in November and a 2% rise from 35,730 in December of the previous year, demonstrating stable market demand and the effectiveness of its sales strategies.
- Stock Performance: In pre-market trading, Allstate shares rose by 1.02% to $198, reflecting a positive market reaction to the company's financial performance despite the challenges posed by catastrophe losses.
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