Allstate reveals $1.2bn cat hit for second quarter 2020

US personal lines insurer Allstate Corporation has estimated catastrophe losses for the second quarter 2020 of $1.19 billion pre-tax ($937 million, after-tax).

The company has incurred catastrophe losses for the month of June of $204 million pre-tax ($161 million after-tax).

Catastrophe losses occurring in June comprised ten events at an estimated cost of $181 million pre-tax ($143 million after-tax), plus unfavorable prior period reserve re-estimates.

Three severe wind and hail weather events, primarily impacting Texas, Pennsylvania and Alberta (Canada), accounted for approximately 50 percent of June estimated catastrophe losses.

Allstate previously announced $982 million pre-tax ($776 million after-tax), in estimated catastrophe losses for the months of April and May 2020.