Severe hail events drive Allstate cat losses to $417m in June

US personal lines insurer Allstate Corporation has estimated its catastrophe losses for the month of June 2018 at $417 million pre-tax ($329 million after-tax).

Catastrophe losses occurring in June comprised 16 events at an estimated cost of $384 million pre-tax, plus unfavourable reserve re-estimates of prior reported catastrophe losses, the company said. The three severe hail events, primarily impacting Texas and Colorado, accounted for approximately 75 percent of June event catastrophe losses.

Allstate previously announced $489 million pre-tax (and $387 million after-tax) in estimated catastrophe losses for the months of April and May 2018, bringing catastrophe losses for the second quarter 2018 to $906 million pre-tax ($716 million after-tax).

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