US primary insurance giant Allstate is expecting catastrophe losses for the second quarter to reach $1.19 billion, pre-tax ($937 million, after-tax).
For June, the company has estimated total cat hit of $204 million, pre-tax ($161 million, after-tax).
Cat losses occurring in June comprised ten events at an estimated cost of $181 million, pre-tax ($143 million, after-tax), plus unfavorable prior period reserve reestimates.
Three severe wind and hail weather events, primarily impacting Texas, Pennsylvania and Alberta, accounted for approximately 50% of June estimated cat losses.
Allstate previously announced $982 million, pre-tax ($776 million, after-tax), in estimated catastrophe losses for the months of April and May 2020, $204 million, pre-tax ($161 million, after-tax).
