They cook the numbers every chance they get. Their quarterly numbers are just made up BS and highly manipulated. They lie to the shareholders, investors, agents, employees, media, policy holders, and the general public. This company is in a lot worse shape than they tell us.
This is my thinking as well. There is no way our numbers are what they say they are. I might be wrong but if I'm not, this will come back to bite them in the a-s big time. And I'll be waiting with popcorn.
SEC - Southeastern Conference. Good, let's talk some college football.
SEC has entered the chat.
Is Allstate the next Enron?
What about all the Pilot adjusters that are working so they can blame catastrophes for our high claim cost and expenses. Accounting tricks to make expenses look lower but claim costs go up. Pilot expenses are billed to the claims cost while employees are an expense. There are 3 times the number of Pilot adjusters working than the cat claim would need and they are all working regular business claims.
Likely no fraud, but certainly profits that have been supported by reduced frequency in prior quarters. With frequency increasing Q2, along with inflation impact on auto and home repairs, a perfect storm brewing. Layer in the lack of organic growth (x/purchases of NatGen and Safe Auto), and nothing too impressive 7 quarters since TG announced in late 2019. Maybe treading water best we can hope for at this point.
This site drifts from informative to insanity at times…. This is a really sad example of the latter.
Do you have actual proof to back up allegations of fraud like this? Otherwise i'd tread lightly.
If you have knowledge/evidence that this is true, go to the SEC.