Allstate Announces January Catastrophe Loss Estimate Of $180 Mln - Quick Facts

(RTTNews) - Allstate Corp. (ALL) announced estimated catastrophe losses for the month of January 2014 of $277 million, pre-tax or $180 million after-tax.

The company noted that Catastrophe losses occurring in January comprised six events at an estimated cost of $271 million, pre-tax, plus unfavorable reserve reestimates of prior reported catastrophe losses. One of the events met the definition of a winter freeze catastrophe in one region of the country but not in other regions due to the amount of claim counts.

Non-catastrophe losses in these other regions were $39 million, pre-tax, which will be reflected primarily in the homeowners combined ratio and the homeowners underlying combined ratio that excludes catastrophe losses and prior year reserve reestimates.