The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of August of $985 million, pre-tax ($778 million, after-tax).
Catastrophe losses occurring in August comprised 11 events at an estimated cost of $969 million, pre-tax ($766 million, after-tax), plus unfavorable prior period reserve reestimates. Estimated catastrophe losses for the month include the impacts of Hurricane Laura ($430 million, pre-tax) and Hurricane Isaias ($200 million, pre-tax).
Allstate previously announced that the impact of PG&E recoveries and July 2020 catastrophe losses generated income of $334 million, pre-tax ($264 million, after-tax), bringing estimated catastrophe losses for July and August 2020 to $651 million, pre-tax ($514 million, after-tax).
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