Reinsurance News
Allstate
Allstate estimates cat losses for April at $594m
15th May 2025
The Allstate Corporation has revealed estimated catastrophe losses for April 2025 of $594 million or $469 million, after-tax. According to the firm, catastrophe losses for April 2025 included 11 events, with approximately 60% of the losses related to two geographically widespread wind and hail events. In comparison, Allstate's catastrophe losses in ... Read the full article
Allstate lifts top of catastrophe reinsurance tower to $9.5bn for 2025-2026
1st May 2025
US primary insurer Allstate has completed the placement of its 2025-2026 Nationwide Excess Catastrophe Reinsurance Program, lifting the top of the tower by around $1.6 billion to $9.5 billion of loss, excess a $1 billion retention. At this year's renewal, Allstate's per occurrence excess agreements placed in the traditional reinsurance market ... Read the full article
Allstate posts 97.4% CoR for Q1’25 as record gross cat losses offset by $1.1bn of reinsurance recoveries
1st May 2025
The Allstate Corporation, a publicly held personal lines insurers in the United States, reported first quarter 2025 financial results reflecting a solid underwriting result and disciplined risk management, even in the face of severe weather events. The company led with robust performance in underwriting, reporting a Property-Liability underlying combined ratio of ... Read the full article
Allstate anticipates $123m of reinsurance recoveries from aggregate tower
22nd April 2025
US primary insurer The Allstate Corporation expects aggregate reinsurance recoveries of approximately $123 million, as catastrophe losses in March saw the firm surpasses the retention level of its annual aggregate reinsurance cover for the annual risk period ending March 31st, 2025. The recoveries are expected to lower Allstate's reported March catastrophe ... Read the full article
Allstate sells Employer Voluntary Benefits business to The Standard
2nd April 2025
US primary insurer Allstate has closed the previously announced sale of its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. (The Standard) for $2 billion. It has been confirmed that this transaction, along with the previously announced definitive agreement to sell the Group Health business, is expected to generate ... Read the full article
Allstate pegs catastrophe losses for February at $92m
20th March 2025
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 ... Read the full article
Allstate projects $1.4bn in reinsurance recoveries for California wildfire losses
20th February 2025
U.S. primary insurer Allstate has estimated catastrophe losses for the month of January at $1.08 billion, or $849 million after tax, after accounting for $1.40 billion in estimated reinsurance recoveries related to the California wildfires. January's losses reportedly stem from three events, with approximately $1.07 billion attributed to the California wildfires. The ... Read the full article
Allstate expects $900m in reinsurance recoveries from LA wildfires
6th February 2025
U.S. primary insurer Allstate has estimated that its gross losses from the Los Angeles, California wildfires will be $2 billion, and after reinsurance recoveries of $900 million under its per-occurrence tower, the firm is projecting a net loss of $1.1 billion from the event. The insurer's LA wildfire loss estimate comes ... Read the full article
Allstate sells its Group Health business to Nationwide for $1.25bn
31st January 2025
US primary insurer, The Allstate Corporation, has entered into a definitive agreement to sell its Group Health business to Nationwide for $1.25 billion in cash, adjusted for the closing balance sheet, and subject to standard closing conditions including regulatory approvals. Nationwide stated that this acquisition will serve as a foundation for ... Read the full article
Allstate’s October cat load takes YTD losses to $4.84bn
21st November 2024
Allstate, the US primary insurer has reported estimated catastrophe losses of $286 million for the month of October, which includes $102 million, pre-tax from hurricane Milton, taking total catastrophe losses for October year-to-date to $4.84 billion or $3.82 billion, after-tax. Allstate's $286 million ($226 million after-tax) catastrophe losses for October also ... Read the full article
Allstate sees net income and revenue growth despite higher cat losses in Q3’24
31st October 2024
The Allstate Corporation has reported it was able to generate “excellent” returns in the third quarter of 2024 despite higher catastrophe losses, seeing its net income applicable to common shareholders improve to $1.2bn, compared to a net loss of $41mn loss seen in the same quarter last year. Catastrophe losses for ... Read the full article
Allstate estimates Q3’24 catastrophe losses of $1.7bn with $630m from hurricane Helene
17th October 2024
US primary insurer Allstate reported estimated catastrophe losses of $889 million ($702 million after tax) for September, which includes $630 million in pre-tax losses related to Hurricane Helene, with total catastrophe losses for the third quarter standing at $1.7 billion ($1.35 billion after tax). For the month of August, Allstate reported ... Read the full article
Allstate August cat load takes YTD losses to $3.67bn
19th September 2024
Large US primary insurer Allstate has reported estimated catastrophe losses of $272 million ($215 million after-tax) for the month of August, taking total catastrophe losses for August year-to-date to $3.67 billion ($2.90 billion, after-tax). Catastrophe losses for August include 15 events resulting in an estimated $306 million in losses. A significant ... Read the full article
Allstate pegs Beryl losses at $226m, total catastrophe losses for July at $587m
15th August 2024
Large US primary insurer Allstate has disclosed total catastrophe losses for the month of July of $587 million, which includes an initial loss estimate of $226 million for Hurricane Beryl. Allstate's catastrophe losses for July include 20 events estimated at $542 million, pre-tax or $428 million, after tax, which suggests some ... Read the full article
Allstate to sell Employer Voluntary Benefits arm to The Standard for $2bn
14th August 2024
US primary insurer Allstate has entered into a definitive agreement to sell its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. (The Standard) for $2 billion in cash, adjusted for the closing balance sheet. The transaction is subject to customary closing conditions and approvals, expected to close in the first ... Read the full article
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