Reinsurance News

Allstate pegs October cat losses at $345mn

20th November 2020 - Author: Charlie Wood

US primary insurer Allstate incurred an estimated $345 million in catastrophe losses throughout October.

Allstate logoThis loss figure includes 10 events at an estimated pre-tax cost of $324 million, plus increased estimated catastrophe losses for prior quarter events.

Estimated catastrophe losses for the month include the impacts of hurricane Zeta and hurricane Delta, which accounted for approximately 85% of current month losses.

This loss estimate is off the back of an active third quarter that saw the company shoulder $990 million in cat losses.

The company put its September cat losses at $339 million ($268 million, after-tax), which added on to losses of $651 million ($514 million, after-tax) for July and August.

Allstate previously stated that its cat losses for the month of August alone would total $985 million, with July losses pegged at $334 million.

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