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Allstate estimates $151M pretax catastrophe losses for February

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Allstate estimates $151M pretax catastrophe losses for February

Allstate Corp. sustained estimated catastrophe losses of $151 million, pretax, or $119 million after tax, in the month of February.

The losses stemmed from 10 events that had a combined estimated pretax cost of $140 million, or $111 million after tax, plus unfavorable reserve re-estimates of prior reported catastrophe losses. One wind event, primarily impacting Pennsylvania, Ohio and New York, accounted for about 60% of February event catastrophe losses.

Estimated catastrophe losses for January and February totaled $299 million, pretax, or $236 million after-tax.