The Allstate Corporation has estimated catastrophe losses for May 2025 of $777 million or $614 million, after-tax.
These losses stemmed from 11 separate events, with roughly 70% attributable to three widespread wind and hailstorms.
By comparison, May 2024 saw catastrophe losses of $1.4 billion, approximately 70% of which resulted from five major wind and hail events, primarily impacting Texas, Colorado, and Illinois.
Including the $594 million in catastrophe losses from April 2025, the combined total for April and May 2025 amounts to $1.37 billion, or $1.08 billion after tax.
In its Q1 2025 results, Allstate reported solid underwriting and disciplined risk management, even in the face of severe weather events.
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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.
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