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
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