Allstate Corp. says it expects $1.08 billion in pretax catastrophe losses, mostly from Superstorm Sandy, for the month of October.
The Northbrook, Ill.-based insurance group says in a statement that while gross losses are higher, the company expects to get about $200 million from reinsurance.
Allstate says the late October storm was the largest of five catastrophe events in October, but it did not break down each event.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
