The Allstate Corp. on Wednesday estimated a $366 million net loss from Hurricane Ian, with most of that tied to auto-insurance policies.
In a Securities and Exchange Commission filing, the insurer estimated gross losses from the hurricane at $671 million but said that total will be reduced by $305 million because of reinsurance coverage.
The filing said Allstate expects about 75 percent of its net losses to be related to auto policies, with about 25 percent related to property coverage.
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It cited a 2.6 percent personal-property market share in Florida. The Category 4 hurricane made landfall Sept. 28 in Lee and Charlotte counties and caused damage as it moved across the state.
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