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Allstate records $25M in pretax cat losses in December 2019

Allstate Corp. logged an estimated $25 million in pretax catastrophe losses, or $20 million after tax, in December 2019.

The insurer's estimated pretax catastrophe losses for the fourth quarter of 2019 has reached $295 million, or $233 million after tax.

The company also announced a $51 million pretax charge, or $40 million after tax, related to its decision to phase out the use of the Esurance brand trade name. This total reduce net income, but will be excluded from adjusted net income.

Additionally, a previously disclosed $37 million charge from a recent fixed rate noncumulative perpetual preferred stock redemption will be reflected in both net income and adjusted net income.