Allstate Announces Estimated Catastrophe Losses For The Month Of September Of $889M Or $702M, After-Tax, Including $630M, Pre-Tax, Related To Hurricane Helene. Total Catastrophe Losses For Q3 Were $1.70B Or $1.35B, After-Tax, And Total Catastrophe Losses For September YTD Were $4.55B Or $3.60B, After-Tax
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Allstate reported estimated catastrophe losses for September at $889 million pre-tax, with $630 million related to Hurricane Helene. Total Q3 catastrophe losses were $1.70 billion pre-tax, and year-to-date losses were $4.55 billion pre-tax.
October 17, 2024 | 12:15 pm
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Allstate's reported catastrophe losses for September and Q3 are significant, with a large portion attributed to Hurricane Helene. This may impact their financial performance and stock price.
The substantial catastrophe losses reported by Allstate, particularly due to Hurricane Helene, are likely to negatively impact their financial performance. This could lead to a short-term decline in stock price as investors react to the increased costs and potential impact on earnings.
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