Allstate reports August catastrophe losses of $748 million from 21 events
The insurer posted $1.43 billion in combined catastrophe losses for July and August after a wind and hail event drove about half of the August total.
The Allstate Corporation (ALL) said Wednesday that estimated catastrophe losses for August reached $748 million, or $591 million after-tax, according to a regulatory filing.
Key takeaways
- August catastrophe losses totaled $748 million pre-tax or $591 million after-tax.
- Losses stemmed from 21 events during the month.
- A single wind and hail event drove approximately 50% of August losses.
- Combined catastrophe losses for July and August reached $1.43 billion pre-tax.
August events and July totals
The insurer said the August figures include 21 separate events. Approximately 50% of the losses for the month came from a single wind and hail event. Total catastrophe losses across July and August combined reached $1.43 billion, or $1.13 billion after-tax, the company said in a press release.
Why it matters
Monthly catastrophe disclosures provide a running tally of weather-related claims that directly impact underwriting income for property and casualty insurers. The concentration of half the August losses in a single wind and hail event highlights the ongoing exposure to severe weather storms during the summer months.
By the numbers
| Metric | Value | Source |
|---|---|---|
| August catastrophe losses | $748 million | Press release |
| August catastrophe losses after-tax | $591 million | Press release |
| August event count | 21 events | Press release |
| July and August combined losses | $1.43 billion | Press release |
| July and August combined losses after-tax | $1.13 billion | Press release |
Next monthly disclosures
The company routinely posts financial information and material announcements on its investor relations website. The filing did not specify the exact date for the September catastrophe loss release, which typically follows the standard monthly reporting schedule.