Allstate Announces September and Third Quarter 2018 Catastrophe Loss Estimates
October 18 2018 - 8:28AM
Business Wire
The Allstate Corporation (NYSE: ALL) today announced estimated
catastrophe losses for the month of September 2018 of $177 million,
pre-tax ($140 million after-tax). Catastrophe losses occurring in
September comprised 13 events at an estimated cost of $145 million,
pre-tax, plus unfavorable reserve reestimates of prior reported
catastrophe losses. Hurricane Florence, which made landfall on
September 14, 2018, accounted for approximately 50% of September
event catastrophe losses. Allstate previously announced $448
million, pre-tax ($354 million after-tax), in estimated catastrophe
losses for the months of July and August 2018, bringing catastrophe
losses for the third quarter 2018 to $625 million, pre-tax ($494
million after-tax). Catastrophe loss estimates do not include
Hurricane Michael which made landfall on October 10, 2018.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181018005465/en/
The Allstate CorporationGreg BurnsMedia Relations(847)
402-5600orJohn GriekInvestor Relations(847) 402-2800
Allstate (NYSE:ALL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Allstate (NYSE:ALL)
Historical Stock Chart
From Apr 2023 to Apr 2024