Allstate reveals catastrophe loss estimate for February 2019
One weather event was responsible for more than half of the losses that month
Allstate reveals catastrophe loss estimate for February 2019
CATASTROPHE & FLOOD
By Lyle Adriano
22 Mar 2019

Allstate has announced its estimate for catastrophe losses for the month of February, pegged at $151 million, pre-tax ($119 million, after-tax).

The insurer noted in a release that catastrophe losses occurring in February comprised 10 events, at an estimated cost of $140 million, pre-tax ($111 million, after-tax), including unfavorable reserve re-estimates of prior period catastrophe losses.

Allstate also highlighted that one wind event– one which mainly affected the areas of Pennsylvania, Ohio and New York – accounted for about 60% of event catastrophe losses for February.

In total, the estimated catastrophe losses for January-February 2019 is at $299 million, pre-tax ($236 million, after-tax).

Read more: Aon – January storms cost the US a billion

In an earlier report, Aon said that January’s storms and cold temperatures – due to the so-called Polar Vortex – cost the entire US about a billion dollars.

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