Allstate says Sandy loss estimate updated to $1.117B from $1.075B Allstate said its Q4 property-liability underlying combined ratio was 86.7, versus 90.7 in Q4 of 2011, driven by improvements in auto and homeowners. The Q4 recorded combined ratio was 101.7 and included 10 catastrophe events estimated to cost $1.16B, offset by favorable reserve reestimates of prior catastrophe losses worth $103M, $80M of which were for pre-2012 catastrophe events. The loss estimate for Sandy was updated from an initial estimate of $1.075B to $1.117B. Of the increase, approximately $22M was due to higher losses not covered by our reinsurance programs, with the balance resulting from claim expenses not recoverable under the National Flood Insurance Program, additional reinsurance premiums and Fair Plan assessments.
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