Allstate, a large US primary insurer, has reported estimated catastrophe losses of $2.12 billion for the second quarter of 2024, with $1.67 billion of that amount being after-tax. The losses were primarily due to widespread wind and hail events, with 18 events estimated at a total of $274 million in June. Compared to the same period last year, this year’s catastrophe losses are significantly lower, with Q2’23 seeing total catastrophe losses of $2.7 billion. Allstate’s Q2 cat bill has come in lower than analysts estimated, with BMO Capital Markets having predicted a total of $2.65 billion.
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