Allstate’s March 2026 Monthly Release
The Allstate Corporation (NYSE: ALL) has announced estimated catastrophe losses for the month of March of $925 million or $731 million, after-tax, from 15 wind and hail events with approximately 80% of the losses related to three events. Total catastrophe losses for the first quarter were $1.24 billion or $980 million, after-tax.
Allstate Protection policies in force are as follows:
Allstate Protection Policies in Force*
in thousandsMarch 31, 2026February 28, 2026March 31, 2025Mar. 31, 2026 v Feb. 28, 2026Mar. 31, 2026 v Mar. 31, 2025
Auto
25,758
25,633
25,100
0.5 %
2.6 %
Homeowners
7,739
7,726
7,549
0.2 %
2.5 %
Other personal lines
4,902
4,902
4,874
– %
0.6 %
Commercial lines
177
176
189
0.6 %
(6.3) %
Total
38,576
38,437
37,712
0.4 %
2.3 %
*Policy counts are based on items rather than customers. A multi-car customer would generate multiple item (policy) counts, even if all cars were insured under one policy. Lender-placed policies are excluded from policy counts because relationships are with the lenders.
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.
Allstate Announces July 2024 Catastrophe Losses
The Allstate Corporation (NYSE: ALL) announced estimated catastrophe losses for the month of July of $542 million or $428 million, after-tax.
Catastrophe losses for July include 20 events estimated at $587 million with an initial loss estimate of $226 million from Hurricane Beryl.
Allstate Announces January 2024 Catastrophe Losses and Implemented Rates
The Allstate Corporation announced estimated catastrophe losses for the month of January of $276 million or $218 million, after-tax.
Estimated January catastrophe losses of $325 million were primarily driven by two events that comprised approximately 80% of the losses, partially offset by favorable reserve reestimates for prior events.
“Allstate continues to pursue rate increases as we execute the auto insurance profit improvement plan and keep pace with loss cost trends. During the month of January, rate increases for Allstate brand auto insurance resulted in a premium impact of 1.4%, which are expected to raise annualized written premiums by approximately $363 million, and rate increases for Allstate brand homeowners insurance have resulted in a premium impact of 0.3%, which are expected to raise annualized written premiums by approximately $40 million. Implemented rate increases and inflation in insured home replacement costs resulted in a 12.1% increase in homeowners insurance average gross written premium in January 2024 compared to the prior year,” said Jess Merten, Chief Financial Officer of The Allstate Corporation. Our implemented rate exhibit for auto and homeowners insurance has been posted on www.allstateinvestors.com.
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.
Allstate Announces May 2022 Catastrophe Losses and Implemented Auto Rates
The Allstate Corporation (NYSE: ALL) announced estimated catastrophe losses for the month of May of $436 million or $344 million, after-tax. May catastrophe losses included 14 events, primarily wind and hail in Texas, the Midwest and Canada, estimated at $423 million, plus unfavorable reserve reestimates for prior period events. Catastrophe losses for April and May totaled $752 million, pre-tax.
“Allstate continued to implement meaningful rate actions in response to ongoing inflationary impacts on auto insurance severities. During the month of May, the Allstate brand implemented rate increases of 9.3% across 13 locations, resulting in total Allstate brand insurance premium impact of 0.7%. We have implemented 78 rate increases averaging approximately 8.1% across 49 locations since the beginning of the fourth quarter 2021. Allstate brand implemented auto rate increases totaled $180 million in the month of May and $343 million quarter to date, after implementing $1.6 billion in the previous two quarters,” said Mario Rizzo, Chief Financial Officer of The Allstate Corporation. Our implemented auto rate exhibit has been posted on allstateinvestors.com.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.
Allstate Announces April 2022 Catastrophe Losses and Implemented Auto Rates
The Allstate Corporation announced estimated catastrophe losses for the month of April of $316 million or $250 million, after-tax. April catastrophe losses included fourteen events, primarily wind, hail and tornados in Texas and the southeast, estimated at $299 million, plus unfavorable reserve reestimates for prior period events.
“In keeping with the outlook shared last month of taking more rate increases than initially assumed in 2022, Allstate continued to implement meaningful rate actions in April. The Allstate brand implemented rate increases of 6.4% across 14 locations in April, resulting in total Allstate brand insurance premium impact of 0.7%. We have implemented 67 rate increases averaging approximately 8.0% across 45 locations since the beginning of the fourth quarter 2021. Allstate brand implemented auto rate increases totaled $163 million in the month of April, after implementing $1.6 billion in the previous two quarters,” said Mario Rizzo, Chief Financial Officer of The Allstate Corporation.
The implemented auto rate exhibit has been posted on allstateinvestors.com.
Allstate Announces May 2021 Catastrophe Losses
The Allstate Corporation (NYSE: ALL) announced estimated catastrophe losses for the month of May of $213 million pre-tax, or $168 million, after-tax. Catastrophe losses for April and May totaled $598 million, after-tax.
Catastrophe losses in May comprised seven events at an estimated cost of $193 million plus unfavorable prior period reserve estimates. Two large hail events, primarily impacting Texas, accounted for approximately 60% of May estimated catastrophe losses.
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.
Swiss Re Institute estimates USD 83 billion global insured catastrophe losses in 2020, the fifth-costliest on record
Natural catastrophes caused USD 76 billion of global insured losses, up 40% from 2019, mostly from secondary peril events such as severe convective storms and wildfires in the US
Very active hurricane season with record number of named storms, but only moderate insured losses of USD 20 billion
Losses from secondary peril events are forecast to increase, driven by climate change
Insurance industry losses from natural catastrophes and man-made disasters globally amounted to USD 83 billion in 2020, according to Swiss Re Institute’s preliminary sigma estimates. This makes it the fifth-costliest year for the industry since 1970. Losses were driven by a record number of severe convective storms (thunderstorms with tornadoes, floods and hail) and wildfires in the US. These and other secondary peril events around the world accounted for 70% of the USD 76 billion insured losses from natural catastrophes1. A very active North Atlantic hurricane season triggered an additional USD 20 billion of insurance claims, moderate compared to the record seasons of 2005 and 2017. The insurance industry covered 45% of global economic losses in 2020, above the ten-year-average of 37%.
Climate change is expected to exacerbate secondary peril events as more humid air and rising temperatures create more extreme weather conditions. These favour the onset and spread of events such as wildfires, storm surges and floods.
”As with COVID-19, climate change will be a huge test of global resilience. Neither pandemics nor climate change are ‘black swan’ events. But while COVID-19 has an expiry date, climate change does not, and failure to ‘green’ the global economic recovery now will increase costs for society in future,” said Jerome Jean Haegeli, Swiss Re Group Chief Economist. ”This year’s natural disasters impacted regions with more insurance cover in place, providing vital support to the people and communities affected and enhancing their financial resilience.”
In the US, a record number of severe convective storms caused devastation throughout the year, likely leading to record annual losses in the country for this peril. Australia and Canada suffered significant losses from hail damage in 2020. In January, hailstorms in southeastern Australia caused insured losses of over USD 1 billion, while Canada experienced its costliest-ever hail event in Calgary in June, which led to losses of USD 1 billion.
Fires also contributed to secondary peril losses for insurers. Wildfires in the US from mid-August chiefly caused the high insured losses, though Australia’s 2019 fire season, the longest and most destructive ever recorded, was still burning in early 2020. In the US states of California, Oregon and Washington State, more than 800 wildfires burned close to 6 million acres, destroying thousands of structures and triggering billions in insured claims. Although less than the record losses of 2018 and 2017, 2020 will be one of the costliest for fires.
Further secondary perils included severe floods in several provinces along the Yangtze River in China from May, causing industry insured losses of roughly USD 2 billion.
Record number of hurricanes, but only moderate losses
The North Atlantic hurricane season brought a record 30 named storms in 2020, including five named storms making landfall in the US state of Louisiana alone, again the highest on record. This year a uniquely conducive set of atmospheric and oceanic conditions was predicted to generate a well-above-average number of storms and landfalls. However, most US landfalls did not hit densely populated areas in 2020, resulting in relatively low insured losses of USD 20 billion, far lower than in the previous record hurricane seasons of 2017 (Harvey, Irma and Maria: USD 97 billion) and 2005 (Katrina: USD 87 billion).
”Large-scale climate conditions in the North Atlantic suggest elevated hurricane activity for 2021 and likely beyond. This increases the probability of a catastrophic landfall. Combined with the loss impact of secondary perils accelerated by climate change, insured catastrophe losses will only rise in the future,” said Martin Bertogg, Head of Cat Perils at Swiss Re.
Winter storms hit northern Europe in February, causing flooding, power outages and transport disruption, with more than USD 2 billion combined insured losses. In May, cyclone Amphan in the Bay of Bengal caused economic losses of USD 13 billion, the most destructive tropical cyclone India has ever experienced. Insured losses are expected to be just a fraction of the economic losses due to the region’s low insurance penetration.
These sigma catastrophe loss estimates are for property damage and exclude claims related to COVID-19. Loss estimates in this media release are preliminary and may be subject to change as not all loss-generating events have been fully assessed. COVID-19 has elongated the claims lifecycle, particularly for large events, and it will take considerably longer than normal to assess the final tally.
Swiss Re Institute will publish updated 2020 loss figures in a full sigma report in spring 2021.
The sigma explorer web app has been enriched further. Go to sigma-explorer.com to view, download and share natural catastrophe data projected onto world maps.
1Industry practice is to consider two types of event as secondary perils: (a) independent, high-frequency (ie, more frequent than primary peril events such as earthquakes and hurricanes), low-to-medium severity loss events (relative to losses resulting from primary perils); and (b) events that occur as secondary effects of primary perils (eg, a tsunami following an earthquake).
Everest Announces Estimated Third Quarter 2020 Catastrophe Losses
Everest Re Group, Ltd. (“Everest” or the “Company”) announced estimated third quarter 2020 catastrophe losses.
Everest is estimating pre-tax net catastrophe losses in the amount of $300 million, net of reinsurance and reinstatement premiums. The estimate includes the impact of Hurricanes Laura, Isaias and Sally, wildfires in California and Oregon, and other events including the Midwest United States Derecho windstorm.
Juan C. Andrade, Everest CEO commented:
“Our thoughts and sympathies go out to all those affected by these recent catastrophe events. Everest provides meaningful capacity and valuable solutions to our customers, helping communities rebuild when events such as these take place. Despite the industry catastrophe losses during the quarter, Everest expects to report significant net income and positive net operating income for the third quarter of 2020, a reflection of the strength and diversification of our business.”
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Allstate Announces August 2020 Catastrophe Losses
The Allstate Corporation (NYSE: ALL) announced estimated catastrophe losses for the month of August of $985 million, pre-tax ($778 million, after-tax).
Catastrophe losses occurring in August comprised 11 events at an estimated cost of $969 million, pre-tax ($766 million, after-tax), plus unfavorable prior period reserve reestimates. Estimated catastrophe losses for the month include the impacts of Hurricane Laura ($430 million, pre-tax) and Hurricane Isaias ($200 million, pre-tax).
Allstate previously announced that the impact of PG&E recoveries and July 2020 catastrophe losses generated income of $334 million, pre-tax ($264 million, after-tax), bringing estimated catastrophe losses for July and August 2020 to $651 million, pre-tax ($514 million, after-tax).
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.
Allstate Announces January 2020 Catastrophe Losses
The Allstate Corporation (NYSE: ALL) announced estimated catastrophe losses for the month of January of $58 million, pre-tax ($46 million, after-tax).
Catastrophe losses occurring in January comprised four events at an estimated cost of $64 million, pre-tax ($51 million, after-tax), partially offset by favorable prior period reserve reestimates.
Effective February 2020, Allstate will revert back to a catastrophe loss reporting threshold of $150 million in a calendar month. This practice is consistent with our ongoing commitment to provide transparency on material intra-quarter events, while reducing the volume of immaterial disclosures from an inherently volatile part of our business.