The Allstate Corporation has announced that its estimated catastrophe losses for the month of April 2019 were $290 million, pre-tax ($229 million, after-tax).
Two wind/hail events, which primarily impacted Texas, accounted for approximately 70% of the month’s catastrophe losses, Allstate revealed.
The insurer was impacted by seven catastrophe events in April, which accounted for an estimated $259 million, pre-tax ($205 million, after-tax) of the loss total.
Additionally, the figure was impacted by unfavourable reserve re-estimates of prior period catastrophe losses.
Allstate recorded catastrophe losses of $680 million for the first quarter of 2019, more than half of which was incurred in March.
Three wind/hail events in Texas made up approximately 90% of the March bill, which totalled $381 million.
