Allstate posts $253mn July cat losses

US insurance giant Allstate has announced it suffered $253mn of
pre-tax catastrophe losses in July from 16 different events,
including an offset of $16mn from reserve releases.
The figures take the company's total catastrophe burden to
$1.8bn for the year to date, after $961mn of losses were recorded
in the second quarter.
This was a 20.6 percent increase from the $797mn losses
experienced during Q2 2015.
The carrier's Q2 results showed that net income dropped 52.9
percent to $459mn during...