(RTTNews) - Allstate Corp. (ALL) announced Thursday an estimated catastrophe losses for the month of August of $876 million or $692 million, after-tax. Catastrophe losses in July and August totaled $1.1 billion, pre-tax.
Catastrophe losses in August comprised 11 events at an estimated cost of $843 million plus unfavorable prior period reserve reestimates.
Hurricane Ida impacted 19 states with the majority of losses occurring in Louisiana, resulting in gross losses of approximately $1.4 billion. Net losses are estimated at $631 million pre-tax or $498 million after-tax.
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