logo
  

Allstate Corp. Reports Estimated Catastrophe Losses For August - Quick Facts

Allstate Corp. (ALL) announced Thursday an estimated catastrophe losses for the month of August of $876 million or $692 million, after-tax. Catastrophe losses in July and August totaled $1.1 billion, pre-tax.

Catastrophe losses in August comprised 11 events at an estimated cost of $843 million plus unfavorable prior period reserve reestimates.

Hurricane Ida impacted 19 states with the majority of losses occurring in Louisiana, resulting in gross losses of approximately $1.4 billion. Net losses are estimated at $631 million pre-tax or $498 million after-tax.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
HSBC Holdings Plc shares were gaining In London trading as well as in pre-market activity on the NYSE after the Asia-focused lender backed its positive outlook after reporting significantly higher third-quarter profit. Further, the company announced share buyback of $2 billion, which will be commenced shortly. Walmart is recalling certain Aromatherapy Room Spray due to the possible presence of a rare and dangerous bacteria that is suspected to be behind two deaths in the United States, the U.S. Consumer Product Safety Commission said. The recall involves about 3,900 bottles of Better Homes and Gardens-branded Essential Oil Infused Aromatherapy Room Spray with Gemstones in six different scents. Royal Caribbean Group's ultra-luxury brand Silversea Cruises is set to launch the world's first hybrid-powered cruise ship in the summer of 2023. This will also be the first ship with large-scale fuel cell technology to enable emission-free port operations. The fuel cells will provide 100% of power while at port.
Follow RTT