17 May 2018Insurance

Allstate April cat losses at $211m

US personal lines insurer Allstate Corporation estimated catastrophe losses for the month of April 2018 of $211 million before taxes.

After tax, cat losses in April are set to cost the insurer $167 million.

Catastrophe losses occurring in April comprised 10 events at an estimated cost of $195 million, pre-tax, plus unfavourable reserve re-estimates of prior reported catastrophe losses.

Two severe wind and hail events, primarily impacting Texas and certain Southeastern states, accounted for approximately 60 percent of April event catastrophe losses.

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