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Allstate Corp. lost $260 million in the first quarter on natural disasters, mostly in March, the largest publicly traded home and auto insurer in the United States said on Thursday.
Allstate said it lost $190 million pre-tax on catastrophes in March. In total it had 15 loss events in the quarter.
Total losses for the period were actually $420 million, Allstate said, though that was partially offset by reserve releases for prior-year disaster losses.
Allstate began releasing monthly and quarterly catastrophe loss data early last year under pressure from analysts who wanted more disclosure on the company’s exposures.
Shares opened 11 cents higher at $33.09, a gain of 0.3 percent.
