The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of September of $339 million, pre-tax ($268 million, after-tax).
Catastrophe losses in September included 20 events at an estimated cost of $293 million, pre-tax ($231 million, after-tax), plus unfavorable reserve reestimates. Eleven wildfire events across California, Oregon and Washington accounted for approximately 65% of September estimated catastrophe losses. Unfavorable reserve reestimates during the month of September primarily related to $64 million of reserve strengthening, net of anticipated reinsurance recoveries, from Hurricane Laura.
Allstate previously announced $651 million, pre-tax ($514 million, after-tax), in estimated catastrophe losses for July and August 2020, bringing estimated catastrophe losses for the third quarter 2020 to $990 million, pre-tax ($782 million, after-tax).
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