NORTHBROOK, Illinois, May 22, 2026, 06:01 (CDT)
Allstate Corp said catastrophe losses totaled $870 million for April, after a stretch of 10 wind and hail events. The company reported its after-tax cost at $687 million. Around 70% of the losses came from just two disasters, according to the insurer.
Timing is key here. Not even a month back, Allstate posted first-quarter net income of $2.4 billion, a jump from $566 million a year ago. The insurer said its Property-Liability combined ratio dropped to 82.0 from 97.4. That ratio measures claims and expenses against premiums, with lower values preferred.
Allstate shares dropped 3.4% to $214.44 on Thursday after the April report. The stock trailed Progressive, Hartford and Travelers, MarketWatch data show.
Allstate is looking at an estimated $870 million in cat losses for April, according to Reinsurance News. That’s less than the $925 million booked in March, but higher than last April’s $594 million. Severe-weather claims are still a big story in the early part of Q2, even after the bounce in the first quarter.
Allstate Protection’s active policy count increased to 38.667 million as of April 30, a 2.3% gain from last year. Auto policies were up 2.5% at 25.805 million, homeowners policies also up 2.5% at 7.764 million.
Allstate said it plans to stop reporting policies-in-force data in its monthly updates after next month, moving that number to quarterly earnings instead. The company said the count reflects insured items, not individual customers, meaning a single multi-car customer can drive up the total policy count.
The Insurer reported that the April catastrophe loss topped what equity analysts were looking for. The publication also noted that flat policy-in-force growth played into how the market responded.
Allstate CEO Tom Wilson told investors after first-quarter results that the company’s strategy led to “strong earnings and increased growth” and a “record amount of new business.” But April numbers tell a different part of the picture: while business was up and price improvements help, wind and hail can still hit the quarter hard. The Wall Street Journal
But these numbers are estimates. In its filing, Allstate said it’s putting out the monthly release under Regulation FD, and the company cautioned that actual results might end up different if estimates or assumptions miss the mark. More spring storms before the quarter ends could also shift things.
Allstate is sticking to its usual pattern: personal-lines growth, better earnings lately, but more big weather losses. Intelligent Insurer said April brought an $870 million charge from 10 wind and hail events. The figure shows how fast catastrophe claims can dent an insurance rebound.
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