Form 8-K ALLSTATE CORP For: Sep 21
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E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 21, 2017
THE ALLSTATE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware | 1-11840 | 36-3871531 | ||
(State or other | (Commission | (IRS Employer | ||
jurisdiction of | File Number) | Identification No.) | ||
incorporation) | ||||
2775 Sanders Road, Northbrook, Illinois 60062
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (847) 402-5000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company | ____ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ____
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Section 7 – Regulation FD
Item 7.01. Regulation FD Disclosure.
The Registrant’s press release dated September 21, 2017 announcing its estimated catastrophe losses for August 2017 is attached hereto as Exhibit 99 and is incorporated herein by reference. The press release is furnished and not filed pursuant to Instruction B.2 of Form 8-K.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE ALLSTATE CORPORATION | ||||
(Registrant) | ||||
By: | /s/ Daniel G. Gordon | |||
Name: | Daniel G. Gordon | |||
Title: | Vice President, Assistant General | |||
Counsel and Assistant Secretary | ||||
Date: | September 21, 2017 | |||
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Exhibit 99
NEWS
FOR IMMEDIATE RELEASE
Contacts:
Greg Burns John Griek
Media Relations Investor Relations
(847) 402-5600 (847) 402-2800
Allstate Announces August 2017 Catastrophe Loss Estimate
NORTHBROOK, Ill., September 21, 2017 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses, net of reinsurance recoveries, for the month of August 2017 of $593 million, pre-tax ($385 million after-tax). Catastrophe losses occurring in August comprised 6 events at an estimated net cost of $591 million, pre-tax, plus unfavorable reserve reestimates of prior reported catastrophe losses. Allstate previously announced $181 million, pre-tax ($118 million after-tax), in estimated catastrophe losses for the month of July 2017, bringing estimated catastrophe losses for the months of July and August 2017 to $774 million, pre-tax ($503 million after-tax).
Hurricane Harvey made landfall in Texas on Friday, August 25, 2017. Estimated gross catastrophe losses, excluding homeowners flood, totaled $576 million, pre-tax, which will be reduced by $23 million in anticipated reinsurance recoveries for a net estimated loss of $553 million. Hurricane Harvey estimated losses include approximately 55% related to auto coverages. We incurred estimated losses and expenses of $53 million not covered by our reinsurance related to commercial insurance, auto protection contracts and loss adjusting expenses in excess of our reinsurance allowances. Given the complexity of this event, we may experience a higher level of uncertainty in our estimates due to the inability of our customers to gain access to their homes and autos and submit claims. Hurricane Irma occurred in September and is not included in our reported estimates.
The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, protecting people from life’s uncertainties with 75 million proprietary policies. Allstate offers a broad array of protection products through multiple brands and diverse distribution channels, including auto, home, life and other insurance offered through its Allstate, Esurance, Encompass and Answer Financial brands. The Company provides additional protection products and services through Allstate Benefits, Allstate Roadside Services, Allstate Dealer Services, Arity and SquareTrade. Allstate is widely known from the slogan “You’re In Good Hands With Allstate®.” Allstate agencies are in virtually every local community in America. The Allstate Foundation, Allstate, its employees and agency owners have a proud history of caring for local communities.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.
Forward-Looking Statements
This news release contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like “plans,” “seeks,” “expects,” “will,” “should,” “anticipates,” “estimates,” “intends,” “believes,” “likely,” “targets” and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section in our most recent Annual Report on Form 10-K. Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.
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