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Allstate estimates $167M after-tax catastrophe loss for April

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Allstate estimates $167M after-tax catastrophe loss for April

Allstate Corp. projects pretax catastrophe losses for April of $211 million, or $167 million on an after tax basis.

While 10 events in the month caused an estimated cost of $195 million pretax, the company also had unfavorable reserve re-estimates of prior reported catastrophe losses. Two severe wind and hail events that largely impacted Texas and certain Southeastern states represented approximately 60% of April event catastrophe losses.