NU Online News Service, June 19, 1:44 p.m. EDT
The Allstate Corp. today issued a second-quarter catastrophe-loss estimate of $820 million on a pre-tax basis.
The Northbrook, Ill.-based insurer says it expects $440 million in cat losses for the month of June.
The second-quarter losses involve 30 events at an estimated cost of $960 million, partially offset by favorable re-estimates of prior-reported catastrophes. Four events accounted for over half of the estimated losses for the quarter.
Earlier this week, The Hartford said it expects close to $300 million in pretax losses due to natural catastrophe losses in the second quarter. The amount was down sharply from last year.
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