Allstate reveals $299m CAT losses for early 2019

US insurer Allstate Corporation has estimated catastrophe losses for January and February 2019 of $299 million, pre-tax ($236 million, after-tax).

It estimated catastrophe losses of $151 million, pre-tax ($119 million, after-tax) for February 2019.

The company attributed the February losses to 10 events at an estimated cost of $140 million, pre-tax ($111 million, after-tax), as well as citing unfavorable reserve re-estimates for catastrophe losses in an earlier period. One wind event, which mainly hit Pennsylvania, Ohio and New York, accounted for about 60 percent of February event catastrophe losses.

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