The Allstate Corporation has revealed estimated catastrophe losses for April 2025 of $594 million or $469 million, after-tax.
According to the firm, catastrophe losses for April 2025 included 11 events, with approximately 60% of the losses related to two geographically widespread wind and hail events.
In comparison, Allstate’s catastrophe losses in April 2024 totalled $494 million, or $390 million after tax. That month also saw 11 events, with around 80% of the losses, valued at $491 million, linked to four significant wind, hail, or tornado events.
Earlier this month, in its Q1 2025 results, Allstate reported solid underwriting and disciplined risk management, even in the face of severe weather events.
The company led with robust performance in underwriting, reporting a Property-Liability underlying combined ratio of 83.1%, which was an improvement of 3.8 points over Q1 2024.
However, gross catastrophe losses hit a record $3.3 billion for the insurer in Q1 2025, although $1.1 billion in reinsurance recoveries pushed net cat losses down to $2.2 billion in the quarter, which is still far higher than the $731 million of net cat losses recorded in Q1 2024.
Allstate’s Q1 2025 recorded a combined ratio of 97.4% was 4.4 points higher than in Q1 2024, and underwriting income totalled $360 million, significantly down from $898 million a year earlier, primarily due to catastrophic events.
The US primary insurer also completed the placement of its 2025-2026 Nationwide Excess Catastrophe Reinsurance Program this month, lifting the top of the tower by around $1.6 billion to $9.5 billion of loss, excess a $1 billion retention.
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