Allstate Announces March Catastrophe Loss Estimate

The Allstate Corporation announced estimated catastrophe losses for the month of March 2012 of $190 million, pre-tax, and an estimated $260 million, pre-tax, for the first quarter of 2012.

The first quarter catastrophe losses comprised 15 events at an estimated cost of $420 million, a result similar to first quarter 2011, partially offset by favorable reserve reestimates of prior year catastrophe losses.

This announcement is made as part of Allstate’s previously announced plan to release month and quarter-to-date catastrophe losses when a monthly estimate exceeds $150 million. The company plans to release this information no later than the third Thursday of the following month.

Source: Allstate