logo
Plus   Neg
Share
Email

Allstate Reports May Catastrophe Loss Estimates - Quick Facts

The Allstate Corp. (ALL) announced estimated catastrophe losses for the month of May of $350 million, pre-tax ($277 million, after-tax). This resulted in estimated catastrophe losses for the months of April and May of $982 million, pre-tax ($776 million, after-tax).

Allstate Corp. said catastrophe losses occurring in May comprised eight events. The company noted that four severe weather events which included rain, wind and hail, primarily impacting Texas and the Midwest, accounted for approximately 80% of May estimated catastrophe losses.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Billionaire Warren Buffett's Berkshire Hathaway reported a profit for the second-quarter that increased 87 percent from last year, as the value of its investment portfolio increased with the stock market. But it took about $10 billion write down on the value of its Precision Castparts aircraft parts unit due to the impact of the COVID-19 pandemic. Operating profit declined 10 percent. Twitter has had preliminary talks with TikTok's Chinese owner ByteDance to buy the U.S. operations of the video-sharing app, the Wall Street Journal reported citing people familiar with the matter. Meanwhile, Microsoft has been the only company so far to say publicly it is pursuing TikTok. Pfizer said Friday it reached a multi-year deal with Gilead Sciences to manufacture and supply Gilead's investigational antiviral remdesivir for COVID-19 patients.
Follow RTT