Allstate’s June cat losses plummet by 74% to $195mn
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Allstate’s June cat losses plummet by 74% to $195mn

Aerial view of downtown Chicago
Aerial view of downtown Chicago, Illinois, USA | tifonimages/Getty Images/iStockphoto

Allstate has said its June 2021 pre-tax cat losses fell to $195mn, plunging 74% from $752mn a year ago, when wind and hailstorms across several states and in Canada drove claims higher.

That was also 8% lower than May’s $213mn cat losses.

Post-tax losses for June were $154mn.

Allstate said catastrophe losses in June comprised 11 events at an estimated cost of $178mn, plus unfavorable prior-period reserve estimates.

Three

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