|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the ALL 10-Q filed May 3, 2006. tandard auto premiums written decreased 12.7% to $400
million in the first quarter of 2006 from $458 million in the same period of
2005.
Allstate brand non-standard auto premiums written decreased 12.0% to $375 million in the first quarter of 2006 from $426 million in the same period of 2005 due to declines in PIF and average premium. Allstate brand non-standard auto new issued applications and PIF decreased 2.2% and 12.1%, respectively, in the first quarter of 2006 compared to the same period of 2005 due to lower new business production as agencies continued to focus on our standard auto business. The decline of 1.6% in average premium during the first quarter of 2006 compared to the same period of 2005 is due to mix of business and a decrease in rate activity.
Encompass brand (Deerbrook) non-standard auto premiums written decreased 21.9% to $25 million in the first quarter of 2006 from $32 million in the same period of 2005, primarily due to declines in PIF. PIF declined 19.0% to 95 thousand as of March 31, 2006 compared to March 31, 2005 due to decreases in new business. The six month average premium declined 5.9% to $540 in the first quarter of 2006 compared to $574 in the same period of 2005. The renewal ratio was 66.0% in the first quarter of 2006 compared to 64.4% in the same period of 2005.
There were no net rate changes that were approved for non-standard auto during the three months ended March 31, 2006.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||
