Allstate Announces August 2018 Catastrophe Loss Estimate
NORTHBROOK, Ill.--(BUSINESS WIRE)--Sep 20, 2018--The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of August 2018 of $186 million, pre-tax ($147 million after-tax). Catastrophe losses occurring in August comprised 16 events at an estimated cost of $137 million, pre-tax, plus unfavorable reserve reestimates of prior reported catastrophe losses. One hail event, primarily impacting Colorado, accounted for approximately 35% of August event catastrophe losses. Allstate previously announced $262 million, pre-tax ($207 million after-tax), in estimated catastrophe losses for the month of July 2018, bringing catastrophe losses for the months of July and August 2018 to $448 million, pre-tax ($354 million after-tax). Catastrophe loss estimates do not include Hurricane Florence which made landfall on September 14, 2018.
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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 are 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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CONTACT: The Allstate Corporation
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE
SOURCE: The Allstate Corporation
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PUB: 09/20/2018 08:31 AM/DISC: 09/20/2018 08:31 AM