Allstate catastrophe losses Archives

Allstate catastrophe losses reach $982 million for April and May 2020

June 23, 2020June 19, 2020 H. Cutner

In a recent announcement, the insurer showed that May’s figures weren’t as high as those in April. Allstate catastrophe losses have reached $982 million for the combined months of April and May. May alone was responsible for estimated losses of $350 million. This will translate to $277 million after tax. The American insurer had already announced its figures for April, which were an estimated $632 million. In April, the announcement showed that the Allstate catastrophe losses were a notably higher pre-tax estimated $632 million. That would convert to $499 million after…

Allstate wildfire losses from November in California reached $685 million

December 19, 2018December 17, 2018 H. Cutner

Allstate Wildfire Losses - Fire in forest

The insurance company has announced its November 2018 catastrophe loss estimate including fires. Allstate wildfire losses were recently announced for the month of November 2018. The insurance company estimated its catastrophe losses to be $685 million, at 679 million pre-tax, or $541 million after tax. The Allstate catastrophe losses included another $6 million in unfavorable reserve reestimtates. Initially, the Allstate wildfire losses were estimated to have been $202 million pre-tax, or $160 million after-tax for the month of October 2018. That said, the ongoing fires brought the October and November…

Regardless of tornado losses, Allstate posts better results than predicted

August 2, 2011 Marc

The largest publicly traded American home and auto insurance company, Allstate Corp., has posted its losses for the second quarter, following catastrophe expenses that broke insurance industry records; but its results weren’t as bad as had been predicted. Allstate’s catastrophe losses reached $2.34 billion, making that quarter one of the worst in the entire history of the company. It had already been anticipating significant losses as a result of April and May’s tornado and severe weather activity in the United States. That said, analysts had not anticipated the revenue to…