Regardless of tornado losses, Allstate posts better results than predicted

The largest publicly traded American home and auto insurance company, Allstate Corp., has posted its losses for the second quarter, following catastrophe expenses that broke insurance industry records; but its results weren’t as bad as had been predicted. Allstate’s catastrophe losses reached $2.34 billion, making that quarter one of the worst in the entire history of the company. It had already been anticipating significant losses as a result of April and May’s tornado and severe weather activity in the United States. That said, analysts had not anticipated the revenue to…

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Allstate loses over $2 Billion in period between April and May

Allstate Corp., has announced that in the two month span between April and May, its catastrophe losses were greater than $2 billion.  According to Allstate, which is the biggest publically traded home and auto insurance company in the United States, the losses within these two months matched that of their losses for the entire 2010 year – which totaled $2.21 billion.  This was primarily the result of massive devastation due to severe thunderstorms and tornadoes.  In fact, April and May 2011 have now become one of the worst two-month periods…

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