Allstate Announces June and Second Quarter Catastrophe Loss Estimate

Allstate Announces June and Second Quarter Catastrophe Loss Estimate

Allstate Announces June and Second Quarter Catastrophe Loss Estimate

The FINANCIAL -- The Allstate Corporation on July 16 announced estimated catastrophe losses for the month of June 2015 of $346 million, pre-tax ($225 million after-tax).

Catastrophe losses occurring in June comprised 19 events at an estimated cost of $310 million, pre-tax, plus increased reserve reestimates of prior reported catastrophe losses. The increased reserve reestimates in the month of June primarily relate to reestimates of April and May 2015 events, according to Allstate.

Allstate previously announced $451 million, pre-tax ($293 million after-tax), in estimated catastrophe losses for the months of April and May 2015, bringing estimated catastrophe losses for second quarter 2015 to $797 million, pre-tax ($518 million after-tax). Catastrophe losses can be higher in the second quarter of the year due to the number of wind and hail events.