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Allstate Estimates Its Cat Losses for April at $1.4 Billion

Posted on 12 May 2011

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The Allstate Corporation on Wednesday announced $1.4 billion in estimated catastrophe losses for the month of April.

April catastrophe losses included 13 events in the United States and Canada, with the largest losses from tornadoes in Alabama, Arkansas, Georgia and Virginia that occurred in the last week of the month. During April, Allstate deployed more than 3,000 claims professionals to assist customers, with more than 100,000 claims reported to date in the areas affected by these catastrophes. Estimated April catastrophe losses totaled about $1.37 billion for the Allstate brand and about $30 million for Encompass brand.

In the future, Allstate plans to announce monthly and quarter-to-date estimates for catastrophe losses when monthly catastrophe losses are estimated to exceed $150 million. These announcements will inform investors who have a strong interest in the company's catastrophe loss estimates when there is significant severity or frequency of catastrophe events. Over the past 10 years, Allstate had catastrophe losses exceeding $150 million in about 30 percent of months.