Allstate Corp (ALL) Reports Pretax Catastrophe Losses of $250M in Sept.

Allstate Corp (NYSE: ALL) announced estimated catastrophe losses for the month of September 2014 of $250 million, pre-tax ($163 million after-tax), and an estimated $517 million, pre-tax ($336 million after-tax), for third quarter 2014. Catastrophe losses occurring in the third quarter comprised 29 events at an estimated cost of $384 million, pre-tax, plus increased reserve reestimates of prior reported catastrophe losses. One severe weather event, primarily in the state of Colorado on September 29, 2014, accounted for over a third of catastrophe losses that occurred in the third quarter. The reserve reestimates are due to higher than anticipated reported property claims related to two severe weather events in the second quarter of 2014.

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