Allstate Announces Significant Catastrophe Losses for May 2024
In June 2024, Allstate announced estimated catastrophe losses for May 2024 amounting to $1.4 billion, or $1.1 billion after tax. These losses were driven by severe weather events, which significantly impacted the company’s financial performance for the month. Despite these substantial losses, Allstate remains committed to supporting its policyholders through these challenging times.
The announcement underscores the increasing frequency and intensity of weather-related catastrophes and their financial implications for insurance companies.
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