Allstate estimates cat losses at $633mn for April

US insurance giant Allstate has estimated pre-tax catastrophe
losses for April at $633mn, or $411mn after-tax.
Eight catastrophe events in the month were estimated at a
pre-tax cost of $660mn, which was offset by reserve recalculations
of previous catastrophe losses, mainly for March.
Allstate has experienced back-to-back months of higher than
typical cat losses, according to Janney's Robert
Glasspiegel.
Keefe Bruyette & Woods analyst Meyer Shields increased his
projections for second quarte