Allstate passes $305mn Ian losses to reinsurers and cat bond investors
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

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

Jairo Ibarra
19 October 2022
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
Allstate logo storm hurricane damage.jpg

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.

Subscribers, log in here:

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
      • Fuel a smarter strategy for business growth
Request a free trial Already a subscriber? Log in now

Topics

News Claims and losses Allstate Catastrophe bonds Property
jairo ibarra/jairo ibarra ii ils.png
Jairo Ibarra
Senior Reporter
Contact
Gift this article