Browsing: catastrophe losses

Allstate Corp. reported $777 million in estimated pretax catastrophe losses for May, primarily due to three large-scale wind and hail storm events

Insurance company Chubb saw a decline in net income for Q1 2025 due to significant catastrophe losses, primarily from California wildfires.

Allstate Corp.’s pretax catastrophe losses for March reached $1.04 billion, bringing first-quarter losses to $2.2 billion. Eleven events contributed to the March total, with four large-scale systems involving wind and hail accounting for approximately 80% of the losses.

Ascot’s Lloyd’s Syndicate 1414 saw its profits decline in 2024 due to significant losses from catastrophes, including storms and the Baltimore Bridge collapse.

Ascot’s Lloyd’s Syndicate 1414 experienced a profit decline in 2024, significantly impacted by high catastrophe losses, including the Baltimore Bridge collapse and severe weather events.

The US property and casualty (P&C) insurance sector saw a significant turnaround in 2024, generating substantial profits after a challenging 2023. This recovery was fueled by premium growth, improved loss control, and strategic adjustments in the face of persistent economic and environmental pressures.