The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of May of $350 million, pre-tax ($277 million, after-tax).
Catastrophe losses occurring in May comprised eight events at an estimated cost of $346 million, pre-tax ($273 million, after-tax), plus unfavorable prior period reserve reestimates. Four severe weather events which included rain, wind and hail, primarily impacting Texas and the Midwest, accounted for approximately 80% of May estimated catastrophe losses.
Allstate previously announced $632 million, pre-tax ($499 million, after-tax), in estimated catastrophe losses for the month of April 2020, bringing estimated catastrophe losses for the months of April and May 2020 to $982 million, pre-tax ($776 million, after-tax).
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