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Allstate

Allstate posts catastrophe losses of $290mn for April

17th May 2019

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 ... Read the full article

Allstate “feels really good” about 2019 reinsurance placement: CFO, Rizzo

8th May 2019

Mario Rizzo, Executive Vice President (EVP) and Chief Financial Officer of The Allstate Corporation, has said that the insurer feels "really good" about its larger catastrophe reinsurance program for 2019 - 2020. Allstate makes extensive use of reinsurance protection to optimise the risk and return profile of its homeowners business, and ... Read the full article

Allstate grows catastrophe reinsurance program by $363 million

2nd May 2019

The Allstate Corporation has expanded its catastrophe reinsurance program for 2019 - 2020 to $4.863 billion, compared with a $4.5 billion program in the previous year. Overall, Allstate's total catastrophe reinsurance spend in the first-quarter of 2019 was $88 million, compared with a total spend of $85 million in the prior ... Read the full article

Allstate’s Q1 cat losses hit $680 million in 2019

23rd April 2019

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 ... Read the full article

Allstate in talks to sell $2.5bn annuity book to FGL Holdings, sources

4th April 2019

Allstate Corporation, one of the largest primary insurers in the US, is close to selling a book of policies from an area in which it no longer creates new business to FGL Holdings, Reuters has reported. With a valuation of between $2.5 billion and $3 billion, the deal would be the ... Read the full article

Allstate announces combined Jan & Feb catastrophe loss of $299 million

21st March 2019

The Allstate Corporation has announced that ten events drove the large majority of an estimated pre-tax catastrophe loss of $151 million ($119mn after-tax) for the month of February, 2019. Of the ten catastrophe events, a wind event that primarily impacted Pennsylvania, Ohio, and New York, accounted for roughly 60% of the loss ... Read the full article

Allstate hit with $670m Camp and Woolsey wildfire losses

13th December 2018

American insurer Allstate has announced pre-tax catastrophe losses for the month of November of $685 million ($541 million, after-tax), of which $670 million ($529 million, after-tax) is attributable to California’s Camp and Woolsey wildfires and reflect the impact of reinsurance recoveries and reinstatement premiums. Allstate has said it has already provided ... Read the full article

Allstate takes $202mn cat losses in October, $136mn driven by Michael

15th November 2018

Allstate Corporation, one of the largest primary insurers in the U.S, has estimated that it will incur $202 million of catastrophe losses for the month of October 2018, $136 million of which were caused by Hurricane Michael. This estimate follows catastrophe losses of $177 million for the month of September ... Read the full article

Allstate said to be considering fixed-annuities business sale

9th November 2018

Allstate Corporation, one of the largest primary insurers in the U.S, is reportedly considering the sale of its fixed-annuities business, which stopped selling new policies about five years ago, according to sources at Bloomberg. People familiar with the matter said the insurer was working with financial advisers to find buyers for ... Read the full article

Allstate estimates $177m pre-tax cat loss for September

18th October 2018

Allstate Corporation, one of the largest primary insurers in the U.S, has announced estimated pre-tax - and likely post-reinsurance, although this is unable to be confirmed - catastrophe losses for September 2018 of $177 million ($140 million after-tax). This follows the $186 million pre-tax loss estimate Allstate posted for the ... Read the full article

Allstate reports cat losses of $186mn for August 2018

21st September 2018

The Allstate Corporation, one of the largest primary insurers in the U.S, has reported estimated catastrophe losses of $186 million pre-tax ($147 million after-tax) for the month of August 2018. Catastrophe losses consisted of 16 events that cost an estimated $137 million pre-tax, as well as unfavourable reserve re-estimates for prior ... Read the full article

Allstate to acquire identity protection firm InfoArmor for $525mn

28th August 2018

The Allstate Corporation, one of the largest primary insurers in the U.S, has entered into an agreement to acquire InfoArmor, an Arizona-based provider of employee identity protection, for an all-cash consideration of $525 million. Headquartered in Scottsdale, Arizona, InfoArmor is a privately held company that provides identity protection to more than 1 ... Read the full article

Allstate’s YTD catastrophe loss bill falls by 22%

16th August 2018

The Allstate Corporation (Allstate) has announced estimated catastrophe losses for the month of July of $262 million, pre-tax ($207 million after-tax), driven primarily by two severe hail events and the Carr wildfire in Northern California. 15 events in July, 2018 saw catastrophe losses alone contributed $220 million, pre-tax, of the overall ... Read the full article

Allstate announces Q2 cat losses of $906 million, pre-tax

20th July 2018

Primary insurance giant The Allstate Corporation (Allstate) has announced estimated catastrophe losses of $417 million, pre-tax ($329 million after-tax), for the month of June, which takes the company's second-quarter 2018 catastrophe losses to $906 million, pre-tax ($716 million after-tax). Catastrophe losses in June included 16 events at an estimated cost of ... Read the full article

Allstate estimates catastrophe losses of $278mn for May

22nd June 2018

The Allstate Corporation, one of the largest primary insurers in the U.S, has estimated that its catastrophe losses for the month of May 2018 were $278 million, pre tax ($220 million after-tax). The pre-tax figure consists of $224 million in losses from 12 catastrophe events over the month of May, in ... Read the full article

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