Storms bring Allstate catastrophe losses in March to $381 million
NORTHBROOK -- Spring storms, primarily in the southern U.S., led to Allstate Corp. paying out $381 million, in pretax estimated catastrophe losses for the month of March.
The catastrophe losses comprised seven events at a pretax estimated cost of $371 million, and unclude unfavorable reserve re-estimates of losses in the previous period. Three wind/hail events, primarily impacting Texas, accounted for approximately 90% of March event catastrophe losses, the company said.
Allstate previously announced $299 million, pretax estimated catastrophe losses for January and February 2019, bringing catastrophe losses for the first quarter 2019 to $680 million).