Allstate passes $305mn Ian losses to reinsurers and cat bond investors
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Allstate passes $305mn Ian losses to reinsurers and cat bond investors

Jairo Ibarra
19 October 2022
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Personal lines heavyweight Allstate has estimated $671mn in pre-tax cat losses related to Hurricane Ian, excluding NFIP, offset by $305mn in reinsurance and cat bond recoveries and ultimately bringing the carrier’s net hit to $366mn.

Allstate did not specify that its reinsurance recoveries included cat bond payouts, but it has a $37.5mn Sanders Re cat bond that is among the first layers of the Florida reinsurance tower protecting Castle Key.

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Topics

News Claims and losses Allstate Catastrophe bonds Property
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Jairo Ibarra
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