Allstate reveals Q1 hit from Texas hailstorms

US insurance giant Allstate has warned that it will absorb an
$827mn hit to its first quarter results, stemming from a series of
hailstorms in Texas earlier this year.
The carrier said the losses came from 17 events across the first
three months of the year that were partially offset by a
"minor" reserve re-estimate of previously reported cat
losses.
Allstate is due to report its Q1 2016 results on 4 May.
"These storms, one of which ranks as the...