Allstate reports March catastrophe losses of $1.04B, exceeds annual reinsurance retention

ALLSTATE CORP

March estimated catastrophe losses $1.04B pre-tax ($818M after-tax) from 11 events; ~80% from 4 wind/hail events.
Q1 2025 total catastrophe losses $2.20B pre-tax ($1.74B after-tax).
Surpassed annual aggregate reinsurance retention for risk period ending March 31, 2025; expected recoveries ~$123M.
Auto policies in force 25.1M, +0.8% vs Feb; homeowners 7.55M, +2.5% YoY.
Commercial lines policies 189K, down 30.8% YoY.

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