Allstate budgets $240m less for Cat spend in 2008
Giant US insurer Allstate has revealed that is has budgeted $240m less to pay for its 2008 catastrophe reinsurance coverage in 2008.
In its first-quarter results the company said that it estimated the total annualised cost of all of its catastrophe reinsurance programs for the year beginning June 1, 2008 will be approximately $660m
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