Allstate Reports September Estimated Catastrophe Losses Of $268 Mln

(RTTNews) - Allstate Corp. (ALL) reported estimated catastrophe losses for the month of September of $268 million.

The company noted that Catastrophe losses in September included 20 events at an estimated cost of $231 million, plus unfavorable reserve reestimates. Eleven wildfire events across California, Oregon and Washington accounted for about 65% of September estimated catastrophe losses.

Unfavorable reserve reestimates during the month of September primarily related to $64 million of reserve strengthening, net of anticipated reinsurance recoveries, from Hurricane Laura.

Previously, Allstate announced $514 million in estimated catastrophe losses for July and August 2020, bringing estimated catastrophe losses for the third quarter 2020 to $782 million.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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