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Disasters, mostly weather-related, cost Allstate $323 million in May

June 20, 2013|By Adolfo Flores
  • David Cabral of Demolition and Debris Removal helps clear a lot in Moore, Okla., which was struck by a tornado last month. Allstate declined to say which catastrophes contributed to its losses.
David Cabral of Demolition and Debris Removal helps clear a lot in Moore,… (Sue Ogrocki / Associated…)

Allstate Corp., the nation's largest publicly held insurance company, said Thursday that catastrophes cost the company $323 million before taxes in May.

Seven events cost the company $312 million, in addition to unfavorable reserve reestimates from previous catastrophe losses. Three weather disasters contributed to 90% of the May losses, Allstate said in a statement.

The Illinois-based company declined to say what the catastrophes were.

Allstate previously announced $216 million in disaster losses for April, bringing estimated catastrophe losses for the second quarter months of April and May to $539 million.

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adolfo.flores@latimes.com

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