Allstate predicts $553mn net Harvey hit

Allstate has forecast its August cat losses will more than treble
from the month before, with the vast majority stemming from
Hurricane Harvey.
The Illinois carrier estimated its August pre-tax cat losses at
$593mn, net of reinsurance.
"Catastrophe losses occurring in August comprised six
events at an estimated net cost of $591mn, pre-tax, plus
unfavourable reserve re-estimates of prior reported catastrophe
losses," the company explained.
Allstate said Harvey-related gross losses of $576mn befor