The Allstate Corporation has reported estimated catastrophe losses for January 2025, amounting to $1.08 billion, or $849 million after-tax. The primary cause of these losses was three significant events, notably the California wildfires, which accounted for approximately $1.07 billion of the total.
The estimate related to the California wildfires includes reinsurance reinstatement premiums and an assessment from the California FAIR Plan. It is net of estimated reinsurance recoveries totaling $1.40 billion.
Allstate Protection policies in force remain unchanged at this time.
The company routinely posts financial information and material announcements on its website, www.allstateinvestors.com.
This announcement contains forward-looking statements that are based on estimates, assumptions, and plans subject to uncertainty. These statements fall under the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include terms such as "plans," "seeks," "expects," "will," "should," "anticipates," "estimates," "intends," "believes," and similar expressions.
These statements are based on reasonable assumptions but could differ materially if those assumptions prove inaccurate or if other risks arise. Factors affecting these outcomes can be found in Allstate's filings with the U.S. Securities and Exchange Commission, particularly in the “Risk Factors” section of their most recent annual report on Form 10-K. The company does not undertake any obligation to update or revise forward-looking statements after they are made.