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Allstate estimates $211mn of catastrophe losses for April

18th May 2018 - Author: Charlie Wood

Following 10 events throughout April totalling a pre-tax estimated cost of $195 million and unfavorable reserve reestimates of prior reported cat losses, The Allstate Corporation (ALL) has announced an overall estimated catastrophe loss of $211 million for the month, pre-tax ($167mn after-tax).

Allstate logoAccounting for approximately 60% of catastrophe losses for April were two severe wind and hail events primarily impacting Texas and certain Southeastern states.

This follows a prior announcement by primary insurance giant Allstate of an estimated $361 million of Q1 2018 catastrophe losses, with the majority occurring in the month of March.

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