Allstate (ALL) announced estimated catastrophe losses for the month of January of $1.08B. Catastrophe losses included three events with approximately $1.07B related to the California wildfires. The California wildfire event estimate includes reinsurance reinstatement premiums, an estimated California FAIR Plan assessment and is net of estimated reinsurance recoveries of $1.40B.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALL:
- Trian boosts stakes in Solventum, U-Haul and Wendy’s, cuts Allstate stake
- U.S. Insurers AIG, TRV, ALL and CB Project Billions of Losses from California Wildfires
- Strong Growth and Stability Prospects Position Allstate as a Compelling Investment Opportunity
- Allstate price target raised to $240 from $235 at Keefe Bruyette
- Allstate Corp Reports Strong 2024 Financial Results