Allstate estimates $213m in catastrophe losses for August

Core Insights - The Allstate Corporation has reported estimated catastrophe losses of $213 million for August 2025, which translates to $168 million after tax [1] - The losses were attributed to 10 events, with around 70% of the losses coming from three significant wind and hail events [2] - For comparison, Allstate's estimated catastrophe losses for August 2024 were higher at $272 million, or $215 million after tax, and the August 2025 figure exceeded July's estimate of $184 million, or $145 million after tax [2] - Cumulatively, estimated losses for the third quarter of 2025 have reached $397 million, or $313 million after tax [2] Financial Performance - In the second quarter of 2025, Allstate experienced substantial catastrophe losses totaling $1.99 billion before tax, with monthly losses of $594 million in April, $777 million in May, and $619 million in June [3] - Despite these elevated losses, Allstate reported a significant increase in net income to $2.1 billion for Q2 2025, a substantial rise from $301 million in Q2 2024 [3] - During the mid-year renewals, Allstate secured a new aggregate reinsurance arrangement for its US homeowners book, indicating proactive risk management strategies [3]