Sanders Re II Ltd

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.

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.

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.

US primary insurance carrier Allstate reported another $195 million of pre-tax catastrophe losses for the month of June, including some loss creep on prior period events, taking its pre-tax total for the second-quarter of the year to around $952 million.

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.

US primary insurance carrier Allstate has successfully expanded its new catastrophe bond issuance to the upsized target of $250 million, while at the same time the coupon for the  Sanders Re II Ltd. (Series 2021-1) notes was fixed at the low-end of reduced guidance.

US primary insurance giant Allstate seeking to expand its new catastrophe bond issuance, with the target for the  Sanders Re II Ltd. (Series 2021-1) transaction now lifted to $250 million, we understand.

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.

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.

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.