Allstate Announces May 2018 Catastrophe Loss Estimate
June 21 2018 - 8:32AM
Business Wire
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).
Financial information, including material announcements about
The Allstate Corporation, is routinely posted on
www.allstateinvestors.com.
Forward-Looking Statements
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.
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The Allstate CorporationGreg BurnsMedia Relations(847)
402-5600orJohn GriekInvestor Relations(847) 402-2800
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