logo
Share SHARE
FONT-SIZE Plus   Neg

Allstate Estimates March Catastrophe Losses Of $335 Mln After-tax - Quick Facts

Allstate Corp. (ALL) has announced estimated catastrophe losses for the month of March 2017 of $516 million, pre-tax, or $335 million after-tax, and an estimated $781 million, pre-tax, or $508 million after-tax, for first quarter of 2017.

Catastrophe losses occurring in the first quarter of 2017 comprised 28 events at an estimated cost of $777 million, pre-tax, plus unfavorable reserve re-estimates of prior reported catastrophe losses. One severe hail event, primarily affecting the state of Texas in March, accounted for over one-third of the catastrophe losses for the quarter.

Allstate expects to file a current report on Form 8-K with the Securities and Exchange Commission announcing first quarter 2017 results on May 2.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Costco Wholesale Corp. (COST), an international chain of membership warehouses, is scheduled to report its first-quarter results on Thursday. Analysts polled by Thomson Reuters estimate earnings of $1.34 per share on revenue of $31.47 billion. Last year, the company reported earnings of $1.24 per share and revenue of $28.1 billion. Shares of Industria de Diseño Textil SA or Inditex were gaining around 4 percent in the morning trading in Spain after the fashion retailer reported Wednesday higher profit and sales in the nine-month period. Regarding the fourth-quarter 2017 trading, the company noted that online and offline store sales increased 13 percent in local currency terms between November 1 and December 11. PepsiCo has placed reservations for 100 Tesla Semi trucks, reports said. The order booking, which is said to be the largest public one to date, is likely to cost the snack and beverage giant around $2 million. Tesla's electric commercial trucks is expected to begin production in 2019. It requires $20,000 for reservation for a truck, as per reports.
comments powered by Disqus
Follow RTT