The Allstate Corporation announced estimated catastrophe losses for the month of May 2015 of $178 million, pre-tax ($116 million after-tax). Catastrophe losses occurring in May comprised 8 events at an estimated cost of $180 million, pre-tax, partially offset by decreased reserve reestimates of prior reported catastrophe losses. Four severe weather events accounted for over 77% of the estimated catastrophe losses for May events. Approximately 30% of the May catastrophe losses were related to auto claims due to large rain events accompanied by heavy flooding. Historically auto claims comprise approximately 15% of catastrophe losses in the second quarter.
Allstate previously announced $273 million, pre-tax ($177 million after-tax), in estimated catastrophe losses for the month of April 2015, bringing estimated catastrophe losses for the second quarter months of April and May 2015 to $451 million, pre-tax ($293 million after-tax).
The Allstate Corporation is the nation's largest publicly held personal lines insurer, protecting approximately 16 million households from life's uncertainties through auto, home, life and other insurance offered through its Allstate, Esurance, Encompass and Answer Financial brand names. Allstate is widely known through the slogan "You're In Good Hands With Allstate." The Allstate brand's network of small businesses offers auto, home, life and retirement products and services to customers in the United States and Canada.