U.S. primary insurer Allstate has estimated catastrophe losses for February 2025 at $92 million or $73 million, after-tax.
Considering Allstate’s January 2025 catastrophe losses of $1.08 billion, or $849 million after tax, the company’s total year-to-date catastrophe losses now stand at $1.17 billion, or $922 million after tax.
Readers will recall that January’s losses reportedly stemmed from three events, with approximately $1.07 billion of the total attributed to the devastating California wildfires.
As mentioned, February 2025’s catastrophe losses totalled $92 million, compared to February 2024’s losses, which were below the company’s $150 million reporting threshold.
These figures are considerably lower than the $241 million in catastrophe losses recorded in February 2023.
In related news, earlier this year, Allstate entered into a definitive agreement to sell its Group Health business to Nationwide for $1.25 billion.
Nationwide stated at the time that the acquisition would serve as a foundation for its ongoing efforts to add capabilities for significant growth in employer benefits.
