Sanders Re II Ltd

US primary insurer Allstate has reported yet another costly month of catastrophe losses for August 2023, reporting some $641 million of cat losses for events that occurred in the month, with around half coming from the Maui wildfire.

Allstate, the US nationwide insurance giant, has reported a further $313 million of pre-tax catastrophe losses for July 2023, which takes the pre-tax total for the first four months of the annual aggregate year for its catastrophe bonds above $3 billion.

Large U.S. insurer Allstate has reported catastrophe losses of an estimated $1.13 billion for June 2023, taking total losses from events for the second-quarter of the year to $2.7 billion, pre-tax.

Allstate, the large U.S. primary insurer, has reported catastrophe losses for the month of May of an estimated $893 million, slightly higher than the $872 million reported in April.

US primary insurance giant Allstate has reported a relatively heavy catastrophe loss burden for April 2023, with $872 million of losses recorded during what is the first month of the annual aggregate term for many of its Sanders catastrophe bonds and the reinsurance they provide.

US primary insurance giant Allstate has reported a relatively brisk start to its aggregation of catastrophe losses for the second-quarter, with pre-tax catastrophe losses for April and May alone totalling $752 million.

US primary insurance giant Allstate has renewed its main excess catastrophe reinsurance towers for 2022 into 2023 and the company has raised the top of its per-occurrence reinsurance coverage to $6.6 billion, but on the aggregate side the tower has shrunk with coverage attaching lower-down now thanks to the use of event deductibles.

It’s become apparent that US primary insurance carrier Allstate is set to make more reinsurance recoveries from its catastrophe bonds for aggregate losses, as the firm has made a small recovery from the $100 million Class B notes of its Sanders Re II Ltd. (Series 2020-1) transaction and the market expects more erosion to that […]

US primary insurance carrier Allstate has revealed making $1.37 billion of recoveries under its catastrophe reinsurance arrangements during calendar year 2021, $300 million of which came after a full exhaustion of its Sanders Re II 2019-1 catastrophe bond transaction.

After a calendar year in which US primary insurance carrier Allstate reported almost $3.34 billion of catastrophe losses, it is no surprise to see the company extolling the importance of its traditional and capital markets reinsurance arrangements.