Allstate Reports Estimated September Catastrophe Losses Of $140 Mln After-tax

(RTTNews) - Allstate Corp. (ALL) announced estimated catastrophe losses for the month of September 2018 of $177 million, pre-tax, or $140 million after-tax.

Catastrophe losses occurring in September comprised 13 events at an estimated cost of $145 million, pre-tax, plus unfavorable reserve re-estimates of prior reported catastrophe losses.

The company noted that Hurricane Florence, which made landfall on September 14, 2018, accounted for about 50 percent of September event catastrophe losses.

Allstate previously announced estimated catastrophe losses of $448 million, pre-tax or $354 million after-tax, for the months of July and August 2018, bringing catastrophe losses for the third quarter 2018 to $625 million pre-tax, or $494 million after-tax.

The catastrophe loss estimates do not include Hurricane Michael which made landfall on October 10, 2018.