Allstate (ALL) Estimates $226M Initial Loss From Hurricane Beryl
ALLAallstate(ALL) ZACKS·2024-08-17 00:11

The Allstate Corporation (ALL) recently announced that the initial loss estimate from Hurricane Beryl was at 226million.ItwasexpectedtowitnessasignificantimpactwhenthehurricanemadelandfallinTexas(Jul8,2024),wherethecompanyhasmajorhomeowners andautomobileinsuranceoperations.AccordingtoVerisk’sExtremeEventSolutionsgroupestimates,U.S.onshorewindpropertylossesfromBerylwerewithinthe226 million. It was expected to witness a significant impact when the hurricane made landfall in Texas (Jul 8, 2024), where the company has major homeowners and automobile insurance operations.According to Verisk’s Extreme Event Solutions group estimates, U.S. onshore wind property losses from Beryl were within the 2-3billionrange.Allstatealsoreportedestimated catastrophelossesof3 billion range. Allstate also reported estimated catastrophe losses of 587 mill ...