Allstate provides update on pending October catastrophe loss estimate The Allstate Corporation announced that estimated catastrophe losses for the month of October will exceed $150M, but an estimate cannot be made at this time. The company's practice is to release an estimate of monthly catastrophe losses on the third Thursday following month-end when the amount exceeds $150M. Allstate will issue a catastrophe loss estimate for October when losses from Sandy can be estimated.
Allstate weakness creates buying opportunity, says Argus After Allstate reported stronger than expected Q1 results but divulged potentially negative trends in its auto segment, Argus says the increase in claims in Q1 was likely due to bad weather. The firm expects the company to take steps to restore its profitability and grow policies in force. It keeps a Buy rating on the shares. .