Allstate cat losses drop in July
US personal lines insurer Allstate Corporation has estimated catastrophe losses for the month of July 2018 at $262 million, pre-tax and $207 million after-tax.
For June, Allstate Corporation had estimated catastrophe losses at $417 million pre-tax ($329 million after-tax), driven by severe hail events.
Catastrophe losses occurring in July comprised 15 events at an estimated cost of $220 million, pre-tax, plus unfavourable reserve re-estimates of prior reported catastrophe losses.
Two severe hail events, primarily impacting Colorado and several other states, and the Carr fire in Northern California, accounted for approximately 75 percent of July event catastrophe losses.
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