(Bloomberg) -- Allstate Corp. posted $630 million in catastrophe losses in September related to Hurricane Helene.
The hit brought the insurer’s pretax catastrophe losses for the month to $889 million, more than double the $317 million it suffered a year earlier, the Northbrook, Illinois-based firm said in a statement Thursday. Losses reached $1.7 billion for the third quarter, up from $1.18 billion.
US insurers are starting to get a feel for the how large the impact will be from back-to-back hurricanes Helene and Milton as customers file claims. The two storms are expected to cost the industry as much as $55 billion, according to Moody’s RMS risk-modeling unit.
Destruction from Helene is expected to result in a hit of as much as $14 billion, with much of the damage not covered by insurance.
Earlier Thursday, Travelers Cos. said its third-quarter catastrophe losses rose to $939 million, above analysts’ expectations, from $850 million a year earlier.
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