Allstate, State Farm each look for $1bn more cat as surge in demand looms
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

Allstate, State Farm each look for $1bn more cat as surge in demand looms

allstate-logo.jpg

Allstate and State Farm have told reinsurers early that they will each need to buy roughly $1bn of additional cat limit at 1 June 2023, as the reinsurance market forecasts a major demand boom for cat limit resulting from inflationary pressure.

Sources told this publication that Allstate and State Farm are among a group of cedants looking to accelerate work on future reinsurance placements, as they seek to proactively manage an expected supply-demand imbalance in cat.

The

Request a free trial:

Fuel a smarter strategy with our actionable market intelligence

    • Gain a competitive edge and accelerate decision-making
    • Be empowered by insights that transform confusion to clarity
    • Uncover growth opportunities and prepare for potential threats
Gift this article