Allstate Records $630M In Losses From Hurricane Helene, Other Insurers Report Significant Losses As Damage Mounts

Allstate Corp (NYSE:ALL) reported $630 million in catastrophe losses related to Hurricane Helene alone. The company reported total estimated catastrophe losses of $889 million for September, more than twice the amount reported for the same month last year. 

What Happened: The impact of Hurricane Helene has led to a substantial increase in Allstate’s losses for the third quarter of 2024 which the company reported as $1.7 billion, up from $1.18 billion in the same quarter in 2023. 

Other insurance companies affected by the recent hurricanes include Progressive Corp (NYSE:PGR), which recorded $563 million in catastrophe in September as a result of Hurricane Helene. Travelers ...

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