The Allstate Corporation has estimated catastrophe losses for June 2025 of $619 million or $489 million, after-tax.
June’s cat losses are the result of 15 events, with approximately 70% of the losses related to three wind and hail events.
In comparison, the June 2024 estimated cat losses were $230 million, which included 18 events estimated at a total of $274 million.
The losses were primarily due to widespread wind and hail events.
Including the $777 million in cat losses from May and the $594 million estimated for April, cat losses for the second quarter of 2025 have now reached $1.99 billion before tax.
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In its financial results for the first quarter of 2025, Allstate reported solid underwriting results and disciplined risk management amid severe weather events.
Robust underwriting led to an 83.1% Property-Liability underlying combined ratio, a 3.8-point improvement. However, catastrophe losses elevated the recorded combined ratio to 97.4% (up 4.4 points from Q1 2024), reducing underwriting income to $360 million from $898 million.
Gross catastrophe losses reached a record $3.3 billion, with net losses at $2.2 billion after $1.1 billion in reinsurance recoveries, significantly higher than Q1 2024’s $731 million.
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