Allstate Corp. estimates after-tax cat loss at $1.06b.Allstate Corp. estimates third-quarter catastrophe losses related to hurricanes Charley, Frances, Ivan and Jeanne to be about $1.06 billion after tax, or $1.64 billion pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern , and $1.53 a share after-tax, net of recoveries from the Florida Hurricane Catastrophe Fund. Estimated third-quarter net and operating incomes Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. per share are 9 cents and 8 cents, respectively, Allstate said. Total catastrophe losses are estimated to be about $1.11 billion after tax, or $1.71 billion pretax, and $1.59 a share after tax, Allstate said. The estimates include losses on personal-lines auto and property policies and net losses on commercial policies, Allstate said. Allstate Corp.'s Chairman, President and Chief Executive Officer Edward M. Liddy Edward M. Liddy is Chairman, President and Chief Executive Officer of The Allstate Corporation. He is currently on the Board of 3M, Goldman Sachs and The Kroger Company. • • said in a statement that despite changes in underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. and rates since 1992's Hurricane Andrew This article is about the 1992 hurricane; there was also a Tropical Storm Andrew during the 1986 Atlantic hurricane season. Hurricane Andrew is the second-most-destructive hurricane in U.S. history, and the last of three Category 5 hurricanes that made U.S. , this spate of hurricanes "will likely result in a new round of examinations of the insurance marketplace in several states." In October, Deb Clouser, a spokeswoman for Allstate, said that Allstate's independent subsidiary, Allstate Floridian, is excluding wind coverage in new policies it writes in certain parts of the state after the four hurricanes. Allstate has sent more than 2,000 claims personnel to the region to help customers, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Liddy. Meanwhile, Florida's No. 1 homeowners and auto insurer, State Farm, previously estimated that it would pay $1.3 billion in claims from Charley. State Farm hadn't yet announced loss estimates for the other storms. |
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