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Allstate Announces May 2018 Catastrophe Loss Estimate

Allstate Announces May 2018 Catastrophe Loss Estimate

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NORTHBROOK, Ill., June 21, 2018 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of May 2018 of $278 million, pre-tax ($220 million after-tax). Catastrophe losses occurring in May comprised 12 events at an estimated cost of $224 million, pre-tax, plus unfavorable reserve reestimates of prior reported catastrophe losses. Two severe wind and hail events, primarily impacting Mid-Atlantic, Northeast and certain Midwest states, accounted for approximately 60% of May event catastrophe losses. The unfavorable reserve reestimates primarily relate to anticipated assessments from the Texas Windstorm Insurance Association related to Hurricane Harvey.  Allstate previously announced $211 million, pre-tax ($167 million after-tax), in estimated catastrophe losses for the month of April 2018, bringing second quarter months of April and May 2018 to $489 million, pre-tax ($387 million after-tax).

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