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Allstate Auto Lines Suffer as Inflation Boosts ‘All The Costs’

  • Expenses surge along with used-car prices, labor costs
  • Car crashes rose during the fourth quarter, CEO Wilson says
Allstate headquarters in Northbrook, Illinois.

Allstate headquarters in Northbrook, Illinois.

Photographer: Christopher Dilts/Bloomberg

Allstate Corp. results missed estimates for the second quarter in a row as the highest inflation in 40 years drives up the costs of insuring and repairing automobiles.

Expenses in the fourth quarter surged 43% from a year earlier to more than $11.6 billion, the Northbrook, Illinois-based insurer said Wednesday in a statement. Costs tied to property and casualty claims made up the majority of the increase.