The Allstate Corporation has revealed estimated catastrophe losses of $381 million, pre-tax ($301mn after-tax) for the month of March 2019, comprised of seven events and unfavourable reserve reestimates of prior period cat losses.
The seven events resulted in estimated catastrophe losses of $371 million for the month, with $10 million coming from unfavourable reserve reestimates of prior period cat losses.
Approximately 90% of Allstate’s March 2019 cat loss bill came from three wind/hail events which primarily impacted Texas, U.S.
The firm announced in February that over the first two months of the year, it had experienced catastrophe losses of $299 million, which, combined with its loss estimate for March 2019, takes Allstate’s first-quarter 2019 catastrophe loss bill to $680 million, pre-tax ($537mn after-tax).
