Allstate pegs catastrophe losses for February at $92m

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U.S. primary insurer Allstate has estimated catastrophe losses for February 2025 at $92 million or $73 million, after-tax.

Allstate logoConsidering Allstate’s January 2025 catastrophe losses of $1.08 billion, or $849 million after tax, the company’s total year-to-date catastrophe losses now stand at $1.17 billion, or $922 million after tax.

Readers will recall that January’s losses reportedly stemmed from three events, with approximately $1.07 billion of the total attributed to the devastating California wildfires.

As mentioned, February 2025’s catastrophe losses totalled $92 million, compared to February 2024’s losses, which were below the company’s $150 million reporting threshold.

These figures are considerably lower than the $241 million in catastrophe losses recorded in February 2023.

In related news, earlier this year, Allstate entered into a definitive agreement to sell its Group Health business to Nationwide for $1.25 billion.

Nationwide stated at the time that the acquisition would serve as a foundation for its ongoing efforts to add capabilities for significant growth in employer benefits.

The post Allstate pegs catastrophe losses for February at $92m appeared first on ReinsuranceNe.ws.

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