Allstate at this time stated it estimated pretax disaster losses of $286 million for the month of October.
Losses throughout October included $102 million, pretax, from Hurricane Milton in addition to $144 million in unfavorable reserve reestimates from Hurricane Helene primarily from Georgia, South Carolina, and North Carolina.
For the month of September, Allstate stated it anticipated pretax disaster losses of $889 million, together with $630 million attributed to Hurricane Helene.
The Northbrook, Illinois-based insurer pronounces month-to-month disaster losses when the whole is no less than $150 million. Allstate has used the announcement to replace its dwelling and auto fee will increase however no such data was included for October.
Allstate late final month reported third quarter net income of about $1.2 billion in comparison with a lack of $41 million throughout the identical time a yr in the past. The insurer absorbed third quarter disaster losses of $1.7 billion, or about 44% greater than a yr in the past throughout the identical interval.
Allstate stated at this time its complete year-to-date pretax disaster losses as of October 31 have been $4.84 billion.
Associated:
Subjects
Catastrophe
Profit Loss
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