Allstate estimates Q2 catastrophe losses of $936 million

Allstate Corp. said Thursday it estimates its catastrophe losses from June to be $216 million, pre-tax ($140 million after-tax).

Catastrophe losses occurring in June included twelve events at an estimated cost of $214 million, pre-tax, plus increased reserve reestimates of prior reported catastrophe losses, Allstate said. It did not report specifically which catastrophe events contributed to that figure.

Allstate previously announced $720 million, pre-tax ($468 million after-tax), in estimated catastrophe losses for April and May, which means its estimated cat losses for the second quarter of the year stand at $936 million, pre-tax ($608 million after-tax).

Non-catastrophe frequency and severity losses for the second quarter of the year were below Q1, which was impacted by severe winter weather losses, the company noted.