The nation’s largest publicly traded personal lines insurer disclosed $273 million in estimated pretax catastrophe losses for April, or $177 million after tax.
Allstate said that six catastrophe loss events are behind the numbers, at a pre-tax cost of $256 million, plus increased reserve estimates of prior reported catastrophe losses.
Out of those results, four wind/hail events accounted for more than 90 percent of the total estimated catastrophe losses for April events, Allstate said.
For the first quarter, Allstate reported $294 million in catastrophe costs, down from $445 million a year ago. The company’s property-liability combined ratio hit 93.7 during the quarter, including catastrophes and prior year reserve re-estimates. In the 2014 first quarter, the combined ratio came in at 99.4