- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Allstate had a 259% increase in profits
Posted on 5/1/25 at 7:42 am
Posted on 5/1/25 at 7:42 am
quote:
The Allstate Corporation saw the greatest profit increase in the US for the first three quarters of 2024, boasting a 259% increase in profits, a new Insurance Business+ report finds.
This turnaround was largely attributed to enhanced claims management, which allowed Allstate to reduce claims payouts and optimize operational costs.
One of the key drivers was a substantial 11.6% increase in property-liability earned premium. This growth was supported by ongoing premium rate hikes and high customer retention in the auto and homeowners’ insurance markets. These pricing adjustments played a crucial role in offsetting the impact of elevated claims costs and a rise in catastrophe-related losses.
Allstate’s auto insurance division emerged as a standout contributor, generating $486 million in underwriting income for the quarter. The segment’s performance was buoyed by strategic rate increases and disciplined cost control, although the overall number of policies in force saw a slight decline.
Allstate’s impressive gains were followed by a 221% profit increase for MetLife and a 220% profit increase for Progressive.
LINK
Progressive was third with a paltry 220% increase.
Wouldn’t it be nice if we could see a state-by-state breakdown?
This post was edited on 5/1/25 at 7:44 am
46
Posted on 5/1/25 at 7:43 am to boosiebadazz
All it takes is one hurricane to wipe out all that profit
Posted on 5/1/25 at 7:44 am to boosiebadazz
quote:
This turnaround was largely attributed to enhanced claims management
Today I learned new word salad for ramming it up your arse.
Posted on 5/1/25 at 7:45 am to boosiebadazz
quote:
This turnaround was largely attributed to enhanced claims management, which allowed Allstate to reduce claims payouts and optimize operational costs.
Always get a lawyer involved.
Posted on 5/1/25 at 7:46 am to boosiebadazz
Must be nice to be an insurance company. People are forced to purchase, you can charge whatever you want and crank up denials to pump your profits, and if it ever comes to a point where it'd bankrupt you, just cry and the government will bail you out.
Posted on 5/1/25 at 7:46 am to Cosmo
quote:
All it takes is one hurricane to wipe out all that profit
Won't someone think of the insurance companies' profit margins!?
Posted on 5/1/25 at 7:46 am to boosiebadazz
This is also an interesting little nugget buried deeper in the article:
quote:
A recent Insurance Business+ report explained that rising material costs from the newly introduced 25% duty on cars and car parts will likely increase claims costs for auto insurers, which may subsequently elect to adjust actuarial models, prompting rate hikes between six and 10% by the end of 2025.
Posted on 5/1/25 at 7:48 am to Cosmo
quote:
All it takes is one hurricane to wipe out all that profit
My first thought was can we get a comparison of natural disasters YoY?
Posted on 5/1/25 at 7:52 am to Ingeniero
quote:The smartass insurance guys will be here to gloat after while-they don’t get up til 9:30.
Must be nice to be an insurance company.
Posted on 5/1/25 at 7:52 am to boosiebadazz
quote:
Allstate had a 259% increase in profits
Percentages don't mean shite. Its often used to skew someone's view of something.
For instance. If they profited $1 last year and profited $3.59 this year then that is a 259% increase.
Now don't get me wrong, I am sure they are making a frick ton more money, but percentages suck to just throw out their in an article without providing the actual amounts.
This post was edited on 5/1/25 at 10:01 am
Posted on 5/1/25 at 7:53 am to boosiebadazz
frick these snakes.
Posted on 5/1/25 at 7:53 am to boosiebadazz
Oh here we go, roofers and Plaintiff Attorney apologists going to show up and lie to us?
Posted on 5/1/25 at 7:54 am to boosiebadazz
quote:
This turnaround was largely attributed to enhanced claims management, which allowed Allstate to reduce claims payouts
Legalized crime.
Posted on 5/1/25 at 7:55 am to Ingeniero
quote:
People are forced to purchase
People can self insure, no one is forced to purchase. Pay cash for your house, put up cash for your liability for driving a vehicle, pay for your own medical care, etc.
But if you are expecting someone else to pay something for you (repairs to your house, payments to plaintiff attorneys when you hit someone, that surgery you need, etc.), on what basis are you calculating whether the price an insurer charges for that contract is reasonable or not?
Posted on 5/1/25 at 7:55 am to nola tiger lsu
Do you not trust the article from an insurance industry publication?
I gave you the link and everything.
I gave you the link and everything.
Posted on 5/1/25 at 7:55 am to Ingeniero
quote:this is the fricking problem. Why not allow me to buy liability as I see fit? If I want to roll the dice, fricking let me.
People are forced to purchase,
This post was edited on 5/1/25 at 7:56 am
Posted on 5/1/25 at 7:56 am to Jack Bauers HnK
We are absolutely forced to purchase liability for autos, which magically is 80% of my premium.
Posted on 5/1/25 at 7:58 am to tketaco
quote:
Always get a lawyer involved.
And what is there increase in profit?
Posted on 5/1/25 at 7:58 am to Cosmo
quote:
All it takes is one hurricane to wipe out all that profit
What would have happened to their profits if they hadn't pulled out of southern California before the fires?
They only have to pay out $1.2 billion for the fires, total cost to pay for the fires will be between $35-45 billion.
Posted on 5/1/25 at 7:58 am to boosiebadazz
It’s crazy how good Jeff Landry has been for business in Louisiana
Page 1 of 9
Popular
Back to top
Follow TigerDroppings for LSU Football News