Sanders Re II Ltd Series 2019-1

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May hail drives Allstate’s pre-tax Q2 catastrophe losses to $757m

US primary insurance carrier Allstate has reported $213 million of estimated pre-tax catastrophe losses for the month of May 2021, which takes the insurers second-quarter total to $757 million before tax. Severe weather and hail storms are the key drivers of May's catastrophe toll, with two large hail events responsible for read the full article →

Allstate reports $544m of catastrophe losses and loss creep in April

US primary insurance carrier Allstate has reported $544 million of net catastrophe losses, largely caused by April's severe US convective weather and hail storms, as well as some loss creep on previous events. The insurer said that the $544 million of catastrophe losses reduces to $430 million after-tax. Five catastrophe events hit read the full article →

Allstate recovers $195m from Sanders Re cat bond, to fill eroded layer

US primary insurance giant Allstate has reported that its losses from the first-quarter winter storms and freezing weather have now enabled it to recover $195 million from the reinsurance provided by its Sanders Re II 2019-1 cat bond. As we've explained before, Allstate's aggregate losses soared on the impacts of winter read the full article →

Allstate’s March cat losses increase recoveries under Sanders cat bonds

US primary insurer Allstate revealed today that its catastrophe losses, before reinsurance, subrogation recoveries and taxes totalled $1.67 billion for the first-quarter of 2021, a significant proportion of which will be offset by recoveries under reinsurance and also its Sanders catastrophe bonds, it seems. As we explained last month, following February's read the full article →

Allstate says winter storm loss to trigger Sanders Re II 2019-1 cat bond

US primary insurer Allstate has revealed a significant approximately $1.3 billion gross loss from the winter storms and severe winter freeze, primarily impacting Texas, which it warns mean its aggregate reinsurance will trigger, which is provided by its Sanders Re catastrophe bonds. Allstate said that the $1.3 billion of gross losses read the full article →

Allstate’s Sanders Re II cat bond fixed at $300m at high-end of pricing

One tranche of U.S. primary insurance giant Allstate's latest Sanders Re II Ltd. (Series 2019-1) catastrophe bond has been pulled and won't be issued, while the higher risk layer has remained at $300 million in size and its pricing has moved to the top-end of initial guidance. The first cat bond read the full article →

Sanders Re II cat bond targets $350m+ of reinsurance for Allstate

U.S. primary insurance giant Allstate is back in the ILS market for its first catastrophe bond issuance of 2019, targeting $350 million of both occurrence and aggregate reinsurance protection with a Sanders Re II Ltd. (Series 2019-1) transaction. It's a similar arrangement to Allstate's last catastrophe bond in 2018, which also read the full article →