Allstate announces first quarter catastrophe losses
NORTHBROOK - Allstate Corp. announced $466 million in catastrophe losses for the first quarter of 2021.
Losses before reinsurance, subrogation recoveries and taxes for the first quarter 2021 totaled $1.67 billion, and were partially offset by $1.08 billion in anticipated reinsurance and subrogation recoveries. As a result, 2021 first quarter catastrophe losses are estimated to be $466 million, after-tax, Allstate said.
One large wind and hail event accounted for approximately 55% of March's estimated catastrophe losses, at an estimated cost of $208 million, the company said.
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