Allstate reports August estimated catastrophe losses of $272M vs. $542M in July

The Allstate Corporation “announced estimated catastrophe losses for the month of August of $272 million or $215 million, after-tax, including favorable reserve reestimates for prior period events. Catastrophe losses for August include 15 events estimated at $306 million, with approximately $75 million related to a hail event in Calgary, Canada. The Calgary hail event estimate includes reinsurance reinstatement premiums and is net of anticipated reinsurance recoveries of $225 million. Total catastrophe losses for July and August were $814 million or $643 million, after-tax, and total catastrophe losses for August year-to-date were $3.67 billion or $2.90 billion, after-tax.”