Allstate tells Wall Street to brace for higher catastrophe losses in Q4, thanks to December winter storm
Allstate Corp. late Wednesday told Wall Street to expect higher catastrophe losses on its balance sheet, thanks to the severe winter storm that blanketed two-thirds of the U.S. in frigid temperatures and snow in December. Allstate ALL, -2.28% estimated fourth-quarter catastrophe losses of $779 million, including December losses of about $616 million. FactSet consensus calls…