Allstate insurance company announced $307 million in catastrophe losses in January

February 21, 2023February 17, 2023 H. Cutner

The US primary insurer said that most of the losses were associated with nine events. The Allstate Corporation insurance company recently announced that its January 2023 pre-tax catastrophe losses were $307 million ($243 million after tax). The nine events that caused the majority of the January 2023 losses were mainly in Texas and California. According to a news release issued by the insurance company, part of the losses it experienced in January 2023 were offset by favorable reserve estimates for prior events. “Allstate continued to implement significant auto insurance rate…

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…