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Allstate reports April & May catastrophe losses of $752m

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. The month of April 2022 saw Allstate reporting $316 million of catastrophe losses before tax, $299 million came from read the full article →

Allstate lifts cat reinsurance to $6.6bn. Agg cover lowered on event deductibles

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 read the full article →

Allstate’s Sanders Re II 2020 cat bond marked for losses of up to 70%

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 read the full article →

Allstate exhausts cat bond as 2021 cat reinsurance recoveries hit $1.37bn

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. In 2021, Allstate reported almost $3.34 billion of catastrophe losses, with significant read the full article →

Allstate’s reinsurance & cat bond benefits evident in burgeoning recoverable

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. Allstate reported its results yesterday, revealing a strong year featuring nearly 21% revenue growth read the full article →

Allstate reports $528m of Q4 catastrophe losses, $218m from Marshall Fire

US primary insurance carrier Allstate has reported its fourth-quarter 2021 catastrophe losses, revealing a total of $528 million, pre-tax, with relatively significant impacts experienced from December loss events, including Colorado's Marshall Fire. For just the month of December 2021, Allstate estimates its pre-tax catastrophe losses at $411 million, which would be read the full article →

Allstate’s target for latest Sanders Re II cat bond lifted to $400m

Allstate has increased the target issuance size for its latest catastrophe bond, with the Sanders Re II Ltd. (Series 2021-2) transaction now expected to secure the company a $400 million of multi-peril per-occurrence and aggregate reinsurance protection across a range of named perils. At the same time, the pricing has diverged read the full article →

Allstate targets $350m Sanders Re II named peril cat bond

US primary insurance carrier Allstate is back with its latest catastrophe bond, a $350 million Sanders Re II Ltd. (Series 2021-2) transaction and this deal will provide the insurer with both multi-peril per-occurrence and aggregate reinsurance protection across a range of named perils. Allstate has recovered on catastrophe bonds recently and read the full article →

Allstate adds $227m of pre-tax catastrophe losses in July

US primary insurance carrier Allstate has added another $227 million of pre-tax catastrophe losses for the month of July 2021, which is much higher than the prior year's $145 million. Allstate had closed out the second-quarter of 2021 with $952 million of pre-tax catastrophe losses, which was a relatively high quarter read the full article →

Allstate’s Sanders Re cat bond recovery rises to $253m in Q2

Catastrophe bond losses continue to affect investors in the $300 million Sanders Re II 2019-1 cat bond transaction sponsored by US primary insurance giant Allstate, as loss creep from US winter storm Uri and Texas freeze continued to erode the notes remaining principal in the second-quarter. As we explained earlier this read the full article →