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Allstate Posts Catastrophic Loses Of $2.3 Billion In Second Quarter

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ALLSTATE POSTS MAJOR LOSSES

BANGALORE (Aditi Sharma) - Allstate Corp (ALL.N), the largest publicly traded U.S. home and auto insurer, said it sees pre-tax catastrophe losses of $2.3 billion for its latest second quarter.

The company said it took a hit of $300 million in June and added that to its already projected losses of $2 billion in April and May from severe tornadoes and thunderstorms.

The loss estimates so far nearly equals its catastrophe losses for all of 2010.

The Northbrook, Illinois-based company began reporting monthly disaster losses for the first time in April. It had been under pressure from analysts to offer more disclosure on its exposures.

(Editing by Sriraj Kalluvila)

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