Allstate May catastrophe losses hit $473 million
NORTHBROOK - The Allstate Corp. announced estimated catastrophe losses for the month of May 2019 of $473 million.
Catastrophe losses occurring in May comprised 14 events at an estimated cost of $504 million, pre-tax, partially offset by favorable reserve re-estimates of prior period losses. One severe weather event which included tornadoes, wind and hail, primarily impacting the Midwest, accounted for approximately 50% of May estimated catastrophe losses.
Allstate previously announced $290 million, pre-tax, in estimated catastrophe losses for the month of April 2019, bringing estimated catastrophe losses for the second quarter months of April and May 2019 to $763 million, pre-tax.