The Allstate Corporation announced estimated catastrophe losses for August 2024 totaling $272 million, or $215 million after-tax. These losses stemmed from 15 separate events during the month.
A significant portion of these losses, approximately $75 million pre-tax, was attributed to a hail event in Calgary, Canada. This estimate is net of anticipated reinsurance recoveries of $225 million.
Total catastrophe losses for July and August combined reached $814 million, or $643 million after-tax. Year-to-date catastrophe losses through August stood at $3.67 billion, or $2.90 billion after-tax, highlighting the ongoing impact of severe weather events on the company's financial performance.
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