US primary insurer Allstate Corporation has announced an estimated $58 million in pre-tax catastrophe losses for January 2020.
Allstate has also reverted back to a cat loss reporting threshold of $150 million in a calendar month.
The company had previously dropped this threshold last October.
This practice, Allstate says, is consistent with its ongoing commitment to provide transparency on material intra-quarter events, while reducing the volume of immaterial disclosures from an inherently volatile part of the firm’s business.
Allstate said cat losses occurring in January comprised four events at an estimated cost of $64 million pre-tax, partially offset by favorable prior period reserve re-estimates.
Reinsurance News reported previously that Allstate had incurred catastrophe losses of $237 million and $33 million in November and December of $33 million and $25 million respectively.
