Allstate Corp. reported September catastrophe losses of $317 million and total catastrophe losses for the third quarter of about $1.2 billion pretax.

Seventeen events in September resulted in catastrophe losses of about $357 million, partially offset by favorable reserve re-estimates for prior events. About 80 percent of the losses were related to two wind and hail events, the Northbrook, Ill.-based insurer said.

Last month Allstate said catastrophe losses were $641 million from 18 events, with about half coming from the Maui wildfire.

Allstate’s catastrophe losses for Q3 2022 were $763 million as it recorded a net loss applicable to common shareholders of $694 million and a combined ratio of 111.6.

Allstate provided additional information to its investors prior to its Nov. 2 post-market earnings release for third-quarter 2023. The company said unfavorable prior-year reserve re-estimates were $166 million for the quarter, excluding catastrophes, with about $84 million related to Allstate Protection and $82 million attributable to a runoff Property-Liability annual reserve review.

Updating its push to raise rates, Allstate also said its brands implemented auto rate increases of 4.5 percent in nine locations during September. The insurer implemented increases of 7 percent across 5 locations in August.

“Allstate continued to implement significant auto and homeowners insurance rate actions as part of our comprehensive plan to improve profitability,” said Jess Merten, chief financial officer, in a statement.

Since the beginning of the year, rate increases for Allstate brand auto insurance have resulted in a premium impact of 9.5 percent, which are expected to raise annualized written premiums by approximately $2.5 billion, and rate increases for Allstate brand homeowners insurance have resulted in a premium impact of 9.5 percent, which are expected to raise annualized written premiums by approximately $971 million,” Merten added.

This article was previously published by Insurance Journal