Allstate insurance company announces catastrophe losses from April

Allstate Insurance company news

The massive insurer has now released the estimate data generated during that month. According to Allstate’s newly released estimates, the April 2014 catastrophe losses came to a pre-tax amount of $280 million (or after-tax $182 million), which the insurance company is attributing primarily to six major events during that month. Those six events came with a pre-tax cost of an estimated $250 million during April. Also contributing to the losses experienced by the insurance company in April were the unfavorable re-estimates of the reserve for prior losses from catastrophes. Allstate…

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