Sanders Re II Ltd

U.S. primary insurance giant Allstate has now priced, according to sources, and will provide the company with a $250 million source of both per-occurrence and annual aggregate multi-peril reinsurance protection across a four-year term.

Price guidance for U.S. primary insurance giant Allstate’s latest catastrophe bond issuance, the $250 million target Sanders Re II Ltd. (Series 2020-1) transaction, has moved higher for the riskier layer of notes, we understand.

Returning to the catastrophe bond market again for 2020, U.S. primary insurance giant Allstate is seeking a new $250 million or greater source of U.S. multi-peril property catastrophe reinsurance through sponsorship of a just launched Sanders Re II Ltd. (Series 2020-1) cat bond transaction.

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.

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.