Allstate Announceds Estimated Catastrophe Losses For The Month Of April Of $494M Or $390M, After-Tax; Catastrophe Losses Included 11 Events Estimated At $491M, With ~80% Of The Losses Related To Four Wind, Hail Or Tornadic Events
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Allstate announced estimated catastrophe losses for April amounting to $494 million, or $390 million after-tax. The losses stem from 11 events, with approximately 80% related to four wind, hail, or tornadic events.
May 16, 2024 | 12:34 pm
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Allstate reported $494 million in catastrophe losses for April, with 80% of the losses from four major wind, hail, or tornadic events. The after-tax impact is $390 million.
The significant catastrophe losses reported by Allstate for April are likely to negatively impact its short-term stock price. The magnitude of the losses and their concentration in a few major events suggest a substantial financial hit.
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