Allstate estimates $619 million in June catastrophe losses
By Isha Marathe
July 17 - (The Insurer) - The Allstate Corporation has estimated catastrophe losses for June at $619 million or $489 million, after-tax.
Catastrophe losses for June include 15 events, with approximately 70% of the losses related to three wind and hail events.
Total catastrophe losses for April and May were $1.37 billion, or $1.08 billion after tax.
Total catastrophe losses for the second quarter of 2025 were $1.99 billion or $1.57 billion, after-tax. This compares with $2.12 billion in the second quarter of last year.
Allstate in the first quarter of this year had total catastrophe losses of $2.20 billion
The insurer announced in May that it had secured an additional $1.5 billion of limit on its nationwide excess catastrophe reinsurance program, increasing the exhaustion point of the tower from just under $8 billion on the expiring structure to $9.5 billion.
Allstate also announced that as of June 30 it had 37.9 million total policies in effect, with the bulk coming from auto, at 25.24 million, then homeowners at 7.6 million, other personal lines at 4.89 million and commercial lines at 176,000.
At the same time in 2024, Allstate had 37.68 million policies in force.
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