allstate

Artemis has tracked the annual aggregate catastrophe losses disclosed by US primary insurance giant Allstate and with the risk period for its aggregate reinsurance and catastrophe bond arrangements running since April 1st last year, appears to have racked up close to $2.5 billion of pre-tax losses by the end of February 2023.

US primary insurer Allstate has pre-announced a heavy catastrophe loss burden for the fourth-quarter of 2022, with winter storm Elliott having driven 80% of the total.

US primary insurance giant Allstate has pre-announced a range of items that added up to make the third-quarter a particularly challenging one for the company, but positively for the carrier its reinsurance tower has responded to losses from hurricane Ian and a $305 million recovery is anticipated.

Ratings agency Standard & Poor’s has upgraded one of the three tranches of notes issued in U.S. primary insurer Allstate’s $750 million Sanders Re Ltd. (Series 2014-1) catastrophe bond, as the tranche has now passed its final reset date without the expected loss having been increased.

Given catastrophe bond investors strong appetite for new issuance currently it’s no surprise to learn that U.S. primary insurance company Allstate’s new Sanders Re Ltd. (Series 2017-1) catastrophe bond has upsized to $375 million, while the price guidance has been lowered.

As readers and the ILS market will now be aware, U.S. primary insurance group Allstate is back with a new $300 million Sanders Re Ltd. (Series 2017-1) catastrophe bond , targeting capital markets-backed U.S. multi-peril collateralised reinsurance capacity.

U.S. primary insurance company Allstate is back with a new Sanders Re Ltd. (Series 2017-1) catastrophe bond issue, a $300 million U.S. multi-peril transaction, the insurers first cat bond since its attempted 7-year deal failed to be issued in 2015.

U.S. primary insurance group Allstate successfully turned to the traditional reinsurance market to purchase 7-year coverage that it failed to secure from the capital markets with its recently dropped Sanders Re 2015-1 catastrophe bond.

Allstate’s latest catastrophe bond issuance is not going as smoothly as its previous attempts to tap the capital markets, as investors showed an unwillingness to meet the insurers pricing ambitions leading to the book building “outside of guidance.”

U.S. primary insurance company Allstate launched its fourth Sanders catastrophe bond on Friday, seeking one of the longest coverages that the cat bond market has provided. The $130m Sanders Re Ltd. (Series 2015-1) is looking for a 7 year cover for multiple U.S. perils for the insurer.