Allstate Announces May Catastrophe Loss Estimate

NORTHBROOK, Ill., June 15 -- Allstate, a publicly held personal lines property and casualty insurance company, issued the following news release:

The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of May 2017 of $403 million, pre-tax ($262 million after-tax). Catastrophe losses occurring in May comprised 14 events at an estimated cost of $392 million, pre-tax, plus unfavorable reserve reestimates of prior reported catastrophe losses.

One severe hail event that occurred on May 8, 2017 in the state of Colorado accounted for over half of the catastrophe losses for events in May. Allstate previously announced $235 million, pre-tax ($153 million after-tax), in estimated catastrophe losses for the month of April 2017, bringing estimated catastrophe losses for the second quarter months of April and May 2017 to $638 million, pre-tax ($415 million after-tax).