ALLSTATE INSURANCE COMPANY LOGOAllstate Corp. reported low catastrophe losses in the 2015 first quarter, but preliminary April results showed some subsequent uptick.

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

Source: Allstate

Topics Catastrophe