Greenspan is particularly concerned about The Allstate Corp., which she believes has significant capital issues that are not "fully appreciated" by investors. That call appeared somewhat prescient when Fitch Ratings revised its rating outlook for Allstate to negative from stable on Oct. 28, a decision mainly driven by a "sharp deterioration" in its underwriting results for the first nine months of the year, as well as adverse revisions to prior reserves outside of expectations. But despite the negative sentiment, Allstate's shares managed to rise 5.25% for the week ending Oct. 28. P&C earnings Several other high-profile P&C carriers also saw their stock prices rise this week after disclosing third-quarter earnings. Chubb Ltd. reported results that showed a significant drop in year-over-year net income. The insurer booked pretax catastrophe losses, net of reinsurance and including reinstatement premiums of $1.16 billion for the period, with $975 million of that amount stemming from Hurricane Ian.