The Allstate Corporation today announced estimated catastrophe losses for the month of May of $1.40 billion or $1.10 billion, after-tax.
Catastrophe losses included 14 events estimated at $1.48 billion, with approximately 70% of the losses related to five wind and hail events, primarily in Texas, Colorado and Illinois. Total catastrophe losses for April and May were $1.89 billion, pre-tax, and total catastrophe losses for May year-to-date were $2.62 billion, pre-tax.
For April 2024, Allstate reported cat losses of $494 million, which combined with May’s total takes cat losses for the two months to $1.89 billion. This is up on the same period last year, when Allstate recorded April and May cat losses of almost $1.7 billion.