United States

Allstate announces $272M catastrophe losses for August 2024

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The Allstate Corporation (NYSE:ALL) today announced estimated catastrophe losses for August totaling $272 million, or $215 million after-tax.

These figures include favorable reserve reestimates for prior period events.

August's catastrophe losses encompass 15 events estimated at $306 million.

Notably, approximately $75 million of this amount is attributed to a significant hail event in Calgary, Canada.

The estimate for the Calgary hailstorm includes reinsurance reinstatement premiums and is net of anticipated reinsurance recoveries totaling $225 million.

While combined catastrophe losses for July and August amounted to $814 million, or $643 million after-tax, year-to-date catastrophe losses through August reached $3.67 billion, or $2.90 billion after-tax.

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