Allstate Announces October 2020 Catastrophe Losses
The Allstate Corporation (NYSE: ALL) reported estimated catastrophe losses of $345 million for October, with a post-tax impact of $273 million. The losses stemmed from 10 events, primarily Hurricane Zeta and Hurricane Delta, which contributed about 85% of total losses, totaling $324 million pre-tax. This report highlights the significant financial impact of recent catastrophic events on Allstate's operations.
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- Estimated catastrophe losses for October reached $345 million pre-tax ($273 million after-tax), impacting overall profitability.
- Losses from natural disasters included significant contributions from Hurricane Zeta and Hurricane Delta, indicating increased vulnerability to future catastrophic events.
NORTHBROOK, Ill.--(BUSINESS WIRE)--The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of October of
Catastrophe losses in October comprised 10 events at an estimated cost of
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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.
