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Allstate sees pretax cat losses of $235M in July

Allstate Corp. recorded an estimated $235 million in pretax catastrophe losses, or $186 million after tax, for the month of July.

The losses stemmed from 10 events at an estimated pretax cost of $186 million, or $147 million after tax, plus unfavorable reserve reestimates of prior period catastrophe losses. One severe hailstorm, primarily impacting Colorado, accounted for approximately 40% of July's event estimated catastrophe losses.

An increase in reserve reestimates in the month of July primarily related to a severe weather event in May that included tornadoes, wind and hail.