Allstate Announces May Catastrophe Loss Estimate
NORTHBROOK, IL--June 19, 2014: The Allstate Corporation today announced estimated catastrophe losses for the month of May 2014 of $440 million, pre-tax ($286 million after-tax). Catastrophe losses occurring in May comprised eleven events at an estimated cost of $400 million, pre-tax, plus unfavorable reserve reestimates of prior reported catastrophe losses. Three severe weather events accounted for over 78% of the estimated catastrophe losses for May events.
Allstate previously announced $280 million, pre-tax ($182 million after-tax), in estimated catastrophe losses for the month of April 2014, bringing estimated catastrophe losses for the second quarter months of April and May 2014 to $720 million, pre-tax ($468 million after-tax).
Last year, Allstate announced estimated May catastrophe losses of $323 million, pre-tax ($210 million after-tax), and catastrophe losses totaling $539 million, pre-tax ($350 million after-tax) for April and May 2013.
The Allstate Corporation is the nation's largest publicly held personal lines insurer, protecting approximately 16 million households from life's uncertainties through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate is widely known through the slogan "You're In Good Hands With Allstate®." The Allstate brand's network of small businesses offers auto, home, life and retirement products and services to customers in the United States and Canada.
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