Allstate Posts Q4 Loss of Over $300M
Feb. 11, 2019—The Allstate Corp. lost $312 million in its 2018 fourth quarter, which was attributable to higher catastrophe losses, lower investment income and a pension settlement charge, reported Insurance Journal.
Catastrophe losses hit $963 million, versus just under $600 million in Q4 2017. However, the insurer said that higher premiums earned and reduced auto insurance accident frequency partially offset its Q4 financial hits.
Tom Wilson, Allstate chairman, president and CEO, said that catastrophe hits aside, the insurer has otherwise strong operating results and continues to generate progress on long-term plans.