Allstate reports Q3 2024 cat losses of $1.70B pre-tax; Helene $630M; reserve review unfavorable $58M

ALLSTATE CORP

September catastrophe losses $889M pre-tax ($702M after-tax); $630M from Hurricane Helene.
Q3 2024 total catastrophe losses $1.70B pre-tax ($1.35B after-tax); YTD through Sep $4.55B pre-tax.
Annual run-off reserve review: unfavorable reestimates of $58M pre-tax ($46M after-tax).
Allstate brand auto insurance rate increases: 2.9% premium impact in Q3, 6.3% YTD; approvals in NY, NJ, TX.

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