US insurance giant Allstate has disclosed second quarter catastrophe losses of pre-tax $960mn as primary carriers continue to report figures in excess of analyst expectations.
Allstate said that four events accounted for over half of the loss for the quarter. Around $440mn of claims are estimated for June, the insurer said.
The headline cat loss figure is comfortably ahead of the $643mn that had been estimated by Stifel Nicolaus analyst Meyer Shields.
Allstate's announcement follows hard on the heels of...
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