Allstate Estimates May Catastrophe Losses at $178M

The Allstate Corp. has estimated its catastrophe losses in the U.S. for the month of May 2015 of $178 million before tax from eight events.

Four severe weather events accounted for over 77 percent of the estimated catastrophe losses for May events. Approximately 30 percent of the May catastrophe losses were related to auto claims due to large rain events accompanied by heavy flooding. Historically auto claims comprise approximately 15 percent of catastrophe losses in the second quarter, Allstate said.

Allstate previously announced $273 million, pre-tax, in estimated catastrophe losses for the month of April 2015, bringing estimated catastrophe losses for the second quarter months of April and May 2015 to $451 million, pre-tax.

Topics Catastrophe Profit Loss