Allstate Reports $186 Million in Hail, Other Catastrophe Losses in August

The Allstate Corporation said estimated catastrophe losses for the month of August were $186 million, pre-tax ($147 million after-tax).

Catastrophe losses occurring in August comprised 16 events at an estimated cost of $137 million, pre-tax, plus unfavorable reserve re-estimates of prior reported catastrophe losses. One hail event, primarily impacting Colorado, accounted for approximately 35 percent of August event catastrophe losses.

Allstate previously announced $262 million, pre-tax ($207 million after-tax), in estimated catastrophe losses for the month of July 2018, bringing catastrophe losses for the months of July and August 2018 to $448 million, pre-tax ($354 million after-tax).

Catastrophe loss estimates do not include Hurricane Florence which made landfall on September 14.

Topics Catastrophe Profit Loss