2 ms·
Can you provide some sources on this? Genuinely interested to learn more.
by eptcyka 2y ago
Can you provide some sources on this? Genuinely interested to learn more.
- dghlsakjg 2y agoTheir financial reports have the numbers plain as day: https://www.allstateinvestors.com/static-files/d61a8007-647a-47e4-91cd-0558d1c5a87a https://www.allstateinvestors.com/static-files/d61a8007-647a... Page 2 has their premiums collected and their claims paid. They are down 5 billion in 2022 and 2023. Haven't seen the full results for 2024 yet. For an explanation of why, Warren Buffets letters to investors explain the insurance industry as a whole pretty well (page 7): https://www.berkshirehathaway.com/letters/2013ltr.pdf https://www.berkshirehathaway.com/letters/2013ltr.pdf Pretty consistently, the industry as a whole loses money on policies.