Sanders Re II Ltd

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Allstate looks to cat bonds for $200m Sanders Re occurrence gap fill

US primary insurance giant Allstate is turning to the catastrophe bond market in search of occurrence reinsurance limit to fill out gaps in its program it seems, bringing a $200 million or greater Sanders Re II Ltd. (Series 2021-1) transaction to market. As we explained last week, as well as making 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 wildfire subrogation recoveries reach $605m

U.S. primary insurance giant Allstate has revealed that it expects to receive around $605 million in subrogation recoveries on claims related to the California wildfires, with a significant percentage already booked. Previously, Allstate had reported $450 million of PG&E related subrogation related to California wildfires claims, which included subrogation due on read the full article →

Allstate’s aggregate catastrophe losses rise on hurricanes Zeta & Delta

U.S. primary insurance giant Allstate continues to aggregate catastrophe losses at a faster rate in 2020, with its total reported pre-tax losses now having risen to almost $2.74 billion on the back of October's losses which were largely from hurricane activity during the month. Allstate reports that some 85% of its read the full article →

Allstate reports wildfire losses. Has Laura creep triggered recoveries?

U.S. primary insurance giant Allstate has reported $339 million of pre-tax catastrophe losses for the month of September 2020, with the majority coming from wildfire activity in western states, while the carrier also reported it had strengthened its reserves for August's hurricane Laura. For Allstate, September's catastrophe losses came from some read the full article →

Allstate’s cat losses hit $985m in August on hurricanes Laura & Isaias

U.S. primary insurance giant Allstate has reported the highest monthly total of catastrophe losses it has suffered for some time, as hurricanes Laura and Isaias helped to drive the total to $985 million for August 2020. 11 catastrophe events in August drove $969 million of pre-tax catastrophe losses, while adverse reserve read the full article →

Allstate’s Sanders Re II cat bond upsized by one-third to $200m

U.S. primary insurance giant Allstate has successfully increased the size of its new catastrophe bond transaction by one-third, with the Sanders Re II Ltd. (Series 2020-2) cat bond deal now featuring $200 million of notes. The successful upsizing of the issuance came after pricing guidance was lifted to the top-end of read the full article →

Allstate’s top-end target for Sanders Re II cat bond lifts to $200m

Insurance giant Allstate's top-end target for its latest catastrophe bond transaction has been lifted to as much as $200 million, while at the same time price guidance for the Sanders Re II Ltd. (Series 2020-2) cat bond deal has been lifted to the top-end of initial guidance. Allstate returned to the read the full article →