From Yahoo Finance: 2025-04-30 17:23:00

Allstate Corp’s first-quarter profit plummeted by 52.4% due to losses from California wildfires, leading to a 2.5% drop in shares. Industry-wide catastrophe losses affected peers W R Berkley and Chubb as well. California’s wildfires caused an estimated economic damage of up to $250 billion, with insurers facing regulatory price limits. Allstate reported $2.22 billion in catastrophe losses for the quarter, triple last year’s figure. Net investment income rose to $854 million, with a net profit of $566 million. The property-liability segment’s combined ratio improved to 83.1%.



Read more at Yahoo Finance: Allstate’s first-quarter profit falls as catastrophe losses triple