Allstate Announces December 2021 and Fourth Quarter 2021 Catastrophe Losses

Rhea-AI Summary

The Allstate Corporation (NYSE:ALL) reported estimated catastrophe losses of $411 million for December, amounting to $325 million after taxes. Fourth-quarter catastrophe losses totaled $528 million pre-tax. Major contributors to December losses included Colorado's Marshall Fire and December tornados, accounting for 78% of losses with the Marshall Fire estimated at $218 million.

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• Estimated catastrophe losses of $411 million for December.
• Fourth-quarter catastrophe losses totaled $528 million pre-tax.
• Marshall Fire losses estimated at $218 million.

NORTHBROOK, Ill.--(BUSINESS WIRE)-- The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of December of $411 million or $325 million, after-tax. Catastrophe losses for the fourth quarter totaled $528 million, pre-tax.

Catastrophe losses for December events were estimated at $381 million, plus unfavorable reserve reestimates. Colorado’s Marshall Fire and December tornados accounted for 78% of December estimated catastrophe losses, with losses for the Marshall Fire estimated at $218 million.

Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.

Forward-Looking Statements

This news release contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like “plans,” “seeks,” “expects,” “will,” “should,” “anticipates,” “estimates,” “intends,” “believes,” “likely,” “targets” and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220120005618/en/

Al Scott

Media Relations

(847) 402-5600

Mark Nogal

Investor Relations

(847) 402-2800

Source: The Allstate Corporation

FAQ

What were Allstate's December 2023 catastrophe losses?

Allstate reported estimated catastrophe losses of $411 million for December 2023.

How much did Allstate estimate for fourth-quarter catastrophe losses?

The estimated catastrophe losses for the fourth quarter were $528 million pre-tax.

What major events contributed to Allstate's December losses?

The Colorado Marshall Fire and December tornados accounted for 78% of December's estimated losses.

What was the estimated impact of the Marshall Fire on Allstate's losses?

The losses from the Marshall Fire were estimated at $218 million.