Allstate Reports September Catastrophe Losses Of $163 Mln After-tax

(RTTNews) - Insurer Allstate Corp. (ALL) announced estimated catastrophe losses for the month of September of $250 million, pre-tax or $163 million after-tax.

For the third quarter, estimated catastrophe losses are $517 million, pre-tax, or $336 million after-tax.

Catastrophe losses occurring in the third quarter comprised 29 events at an estimated cost of $384 million, pre-tax, plus increased reserve re-estimates of prior reported catastrophe losses.

One severe weather event, primarily in the state of Colorado on September 29, accounted for over a third of catastrophe losses that occurred in the third quarter.

The reserve re-estimates are due to higher than anticipated reported property claims related to two severe weather events in the second quarter.