Allstate Announces August 2024 Catastrophe Losses
19 September 2024 - 10:14PM
Business Wire
The Allstate Corporation (NYSE: ALL) today 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.
Financial information, including material announcements about
The Allstate Corporation, is routinely posted on
www.allstateinvestors.com.
Forward-Looking Statements
This news release contains “forward-looking statements” that
anticipate results based on our estimates, assumptions and plans
that are subject to uncertainty. These statements are made subject
to the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements do not relate
strictly to historical or current facts and may be identified by
their use of words like “plans,” “seeks,” “expects,” “will,”
“should,” “anticipates,” “estimates,” “intends,” “believes,”
“likely,” “targets” and other words with similar meanings. We
believe these statements are based on reasonable estimates,
assumptions and plans. However, if the estimates, assumptions or
plans underlying the forward-looking statements prove inaccurate or
if other risks or uncertainties arise, actual results could differ
materially from those communicated in these forward-looking
statements. Factors that could cause actual results to differ
materially from those expressed in, or implied by, the
forward-looking statements may be found in our filings with the
U.S. Securities and Exchange Commission, including the “Risk
Factors” section in our most recent annual report on Form 10-K.
Forward-looking statements are as of the date on which they are
made, and we assume no obligation to update or revise any
forward-looking statement.
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Nick Nottoli Media Relations (847) 402-5600
Allister Gobin Investor Relations (847) 402-2800
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