logo
  Join        Login             Stock Quote

Allstate (ALL) Says October Catastrophe Loss Estimated At $1.08B

 November 28, 2012 10:41 AM
 


(By Balachander) Allstate Corp. (NYSE: ALL), a personal lines and casualty insurer, said it estimates catastrophe losses of $1.08 billion for the month of October.

The Northbrook, Illinois-based company said Sandy was the largest of five October catastrophe events.

According to Allstate, the total gross loss estimate by state is 66 percent in New York, 20 percent in New Jersey and 14 percent in other states.

As of November 26, 2012, the company said roughly $340 million of claim payments have been made.

Autos represent about 40 percent of the total gross losses, with 78 percent in New York, 19 percent in New Jersey and 3 percent in other states, the company noted.

[Related -The Allstate Corporation (ALL): Room For ROE, Multiple Expansion]

In addition, Allstate said it expect losses from Sandy will be contained within the first layer of the nationwide reinsurance agreement.

Allstate's major business is private passenger auto and homeowners insurance, primarily offered through agencies. These products are marketed under the Allstate, Encompass and Esurance brand names.

The stock, which has been trading in the 52-week range of $25.22 to $42.81, dipped 0.10 percent to trade at $40.16 on Wednesday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageThe Coca-Cola Company (KO) Q1 Earnings Preview: Guidance About to Fizzle?

The Coca-Cola Company (NYSE:KO) plans to release its first quarter earnings results before the market opens read on...

article imageIntel Corporation (INTC) Q1 Earnings Preview: A Business in Transition

Intel Corporation (NASDAQ:INTC) plans to post its first quarter earnings results promptly after the market read on...

article imageFord Motor Company (F): A long Road to Deutsche Bank’s $19 Target

Ford Motor Company (NYSE:F) is going the right way on a one way street where most everybody else is driving read on...

article imageCitigroup Inc (C) Q1 Earnings Preview: Too Many Parts Heading South

Citigroup Inc (NYSE:C) will issue its first quarter results via press release at approximately 8 a.m. (ET) read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.