The Allstate Corp. said pre-tax catastrophe losses in July reached $181 million, with more than half of the cost coming from severe wind, hail and rain events in the U.S. Midwest.
Broken down, 13 events caused $151 million in pre-tax losses, plus unfavorable reserve re-estimates of prior reported catastrophe losses.
Two severe wind, hail and rain events from the U.S. Midwest caused more than $60 percent of the total catastrophe losses for July, the insurer said.
Also, Allstate said, the increased reserve re-estimates for July relate to re-estimates of second quarter 2017 events.
Allstate booked $550 million in net income for the 2017 second quarter and reported a 97.2 combined ratio. The insurer said it had solid underwriting results for auto, homeowners and other personal lines even with $993 million of catastrophe losses.