Allstate Announces October 2018 Catastrophe Loss Estimate
NORTHBROOK, Ill.--(BUSINESS WIRE)--Nov 15, 2018--The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of October 2018 of $202 million, pre-tax ($160 million, after-tax). Catastrophe losses occurring in October comprised 8 events at an estimated cost of $174 million, pre-tax, plus unfavorable reserve reestimates of prior reported catastrophe losses. Hurricane Michael, which made landfall on October 10, 2018, accounted for $136 million, pre-tax, or 78% of October event catastrophe losses.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.
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: Greg Burns
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE
SOURCE: The Allstate Corporation
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PUB: 11/15/2018 08:24 AM/DISC: 11/15/2018 08:24 AM