Allstate expects a $1.1 billion hit from the LA wildfires, but it could have been worse
Allstate Corp. said it expects about $1.1 billion of losses from the wildfires that ravaged swaths of Los Angeles last month. The anticipated cost partly reflects the Northbrook-based insurer's decision to reduce market share beginning in 2007, the insurer said in a statement Wednesday, when it reported fourth-quarter results.
US insurers face billions in losses from Los Angeles wildfires
Major insurers face billions of dollars in losses from the Los Angeles wildfires, they said this week, despite dropping clients in California before the catastrophe. AIG and Allstate and are among the national insurers that warned of losses even after they cut their exposure to the state in recent years.
In the fourth quarter, catastrophe losses took $315 million out of Allstate’s homeowners insurance business, up from $21 ...
U.S. primary insurer Allstate has estimated that its gross losses from the Los Angeles, California wildfires will be $2 ...
Allstate’s 2024-25 nationwide excess catastrophe reinsurance provides coverage for events of up to $7.9bn of loss, less ...
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$1.1 Billion Loss For Allstate Amidst California FiresJust months before the Southern California wildfires, many insurance companies, including Allstate, backed out of the ...
Allstate Corp. said it expects about $1.1 billion in losses from the wildfires that destroyed Los Angeles County communities ...
Property and casualty insurer Allstate's fourth-quarter profit beat Wall Street expectations on Wednesday, helped by strong ...
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