Allstate
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Plaintiffs including State Farm, USAA and Allstate argued the fires were the fault of the US National Park Service. -
Almost all losses stemmed from hurricanes Delta and Zeta.
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The personal lines giant's growth is in focus as the market looks for progress on its embrace of the direct channel.
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The carrier’s $990mn catastrophe loss in Q3 is net of $495mn in subrogation from a settlement with PG&E.
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The carrier's Hurricane Laura loss has risen close to its occurrence treaty trigger.
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The rideshare company has also deepened its existing partnership with Progressive.
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The vote follows the news that Allstate is cutting 3,800 jobs across its business.
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The personal lines giant is making the cuts in a bid to keep its expense ratio down.
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Three shareholder complaints maintain the merger proxy statement was misleading.
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The agreement is part of a $3bn share repurchase program announced in February.
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Hurricane Laura made up the bulk of the losses, at $430mn pre-tax, followed by Hurricane Isaias at $200mn.
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The July deal put the Karfunkel family in line for a payout of more than $1.5bn.
