Allstate Announces February 2019 Catastrophe Loss Estimate
Allstate announces February 2019 catastrophe loss estimate
NORTHBROOK, Ill., March 21, 2019 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of February 2019 of $151 million, pre-tax ($119 million, after-tax). Catastrophe losses occurring in February comprised 10 events at an estimated cost of $140 million, pre-tax ($111 million, after-tax), plus unfavorable reserve reestimates of prior period catastrophe losses. One wind event, primarily impacting Pennsylvania, Ohio and New York, accounted for approximately 60% of February event catastrophe losses.
Estimated catastrophe losses for January and February 2019 totaled $299 million, pre-tax ($236 million, after-tax).
Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.
This news release contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like “plans,” “seeks,” “expects,” “will,” “should,” “anticipates,” “estimates,” “intends,” “believes,” “likely,” “targets” and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.