Allstate Loses $280 Million on Disasters in April

May 17, 2012

Home and auto insurer Allstate Corp. said on Thursday it lost $280 million in April on natural disasters, more than it lost in the first three months of the year combined.

Allstate said the pre-tax loss came from 10 separate events, though it did not break them down or identify the largest among them.

Still, the loss was much smaller than in April 2011, when Allstate and other insurers were hurt by a series of devastating tornadoes. The company lost $1.4 billion that month.

Allstate began releasing monthly catastrophe losses last year under pressure from analysts, who wanted more detail on the company’s exposures.

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