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 September catastrophe losses higher than expected, says Wells Fargo Wells Fargo attributes today's move lower in Allstate to its report of September catastrophe losses that came in higher than expected. The firm lowered its Q3 EPS estimate to $1.23 from $1.56 based on the losses, but maintains its Outperform rating on the stock, calling it one of the firm's top-picks among non-life insurers.