The Allstate Corp. disclosed $235 million in pre-tax catastrophe losses for April.
Broken down, the number encompasses 11 catastrophe events that cost the insurer $229 million pre-tax, plus unfavorable reserve re-estimates for previously reported catastrophe losses.
After tax, the catastrophe loss estimate for April comes in at $153 million.
For March, Allstate booked $516 million in pre-tax catastrophe losses ($335 million after-tax), and $781 million pre-tax (508 million after-tax) catastrophe losses for the 2017 first quarter.
The Q1 catastrophe losses break down into 28 events costing $777 million pre-tax, plus unfavorable reserve re-estimates of prior reported catastrophe losses. One major hail event in March, mostly hitting Texas, accounted for one-third of catastrophe losses for the quarter, Allstate said.
For 2016, Allstate reported more than $2.5 billion in catastrophe losses, a number that reached $853 million higher than the previous year. Allstate still made money during the year, however, reporting $1.76 billion in net income.
Source: Allstate



Four Moves That Will Keep Midsize Mutuals Competitive
How Insurance Leaders Can Leverage AI Without Sacrificing Trust
How Insurance Can Turn Maintenance Into Measurable Competitive Advantage
Reinsurance Rates Continued Softening During April Renewals, Despite Iran War 

