Allstate Announces May 2019 Catastrophe Loss Estimate
June 20 2019 - 8:31AM
Business Wire
The Allstate Corporation (NYSE: ALL) today announced estimated
catastrophe losses for the month of May 2019 of $473 million,
pre-tax ($374 million, after-tax). Catastrophe losses occurring in
May comprised 14 events at an estimated cost of $504 million,
pre-tax ($398 million, after-tax), partially offset by favorable
reserve reestimates of prior period catastrophe losses. One severe
weather event which included tornadoes, wind and hail, primarily
impacting the Midwest, accounted for approximately 50% of May
estimated catastrophe losses.
Allstate previously announced $290 million, pre-tax ($229
million after-tax), in estimated catastrophe losses for the month
of April 2019, bringing estimated catastrophe losses for the second
quarter months of April and May 2019 to $763 million, pre-tax ($603
million after-tax).
Financial information, including material announcements about
The Allstate Corporation, is routinely posted on
www.allstateinvestors.com.
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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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Greg Burns Media Relations (847) 402-5600
John Griek Investor Relations (847) 402-2800
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