Storms bring Allstate catastrophe losses in March to $381 million

  • Spring storms, primarily in the southern U.S., led to Allstate Corp. paying out $381 million,  in pre-tax estimated catastrophe losses for the month of March.

    Spring storms, primarily in the southern U.S., led to Allstate Corp. paying out $381 million, in pre-tax estimated catastrophe losses for the month of March.

 
Updated 4/18/2019 1:20 PM

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).

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