Allstate announces first quarter catastrophe losses

NORTHBROOK - Allstate Corp. announced $466 million in catastrophe losses for the first quarter of 2021.

Losses before reinsurance, subrogation recoveries and taxes for the first quarter 2021 totaled $1.67 billion, and were partially offset by $1.08 billion in anticipated reinsurance and subrogation recoveries. As a result, 2021 first quarter catastrophe losses are estimated to be $466 million, after-tax, Allstate said.

One large wind and hail event accounted for approximately 55% of March's estimated catastrophe losses, at an estimated cost of $208 million, the company said.