Allstate October cat losses at $202m

US personal lines insurer Allstate Corporation has estimated catastrophe losses for the month of October 2018 of $202 million, pre-tax ($160 million, after-tax), driven by hurricane Michael.

Catastrophe losses occurring in October comprised 8 events at an estimated cost of $174 million, pre-tax, plus unfavourable reserve re-estimates of prior reported catastrophe losses.

Hurricane Michael, which made landfall on October 10, 2018, accounted for $136 million, pre-tax, or 78 percent of October event catastrophe losses.

For the month of September 2018, total catastrophe losses were an estimated $177 million, pre-tax and $140 million after tax.