ALLSTATE TALLIES $213M IN CATASTROPHE LOSSES FOR MAY

US property/casualty group Allstate on Thursday announced that it incurred $213m in pre-tax catastrophe losses for the month of May. The total includes $193m of losses from seven events during the month plus $20m in unfavourable prior-period reserve development. Two large hail events that primarily impacted Texas accounted for around 60% of current-period cat losses. Including the $544m in cat losses that the Illinois-based group tallied in April, its total pre-tax cat losses for the second quarter to date stood at $757m. Hail events in Texas and nearby states also drove Allstate’s cat losses in April.