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Article: Allstate Announces Hurricane Charley Losses.
- Article from:
- Business Wire
- Article date:
- August 31, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NORTHBROOK, Ill. -- The Allstate Corporation announced today that its pre-tax catastrophe losses related to Hurricane Charley, a Category 4 hurricane that struck portions of Florida and other areas of the eastern seaboard of the United States commencing on August 13, are preliminarily estimated to be approximately $425 million, net of recoveries from the Florida Hurricane Catastrophe Fund (FHCF), or $276 million after-tax and $0.40 per diluted share after-tax. This estimate includes losses on Florida personal lines auto and property policies, net losses on commercial policies, and a low level of losses experienced in North and South Carolina.
Based on recently ...