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The bond protects against losses in the US, Canada, Europe and Australia. -
The company also has $100mn for US hurricane events.
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The index provider revised up its return for March by 0.39 percentage points to 1.21%.
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The carrier previously raised a Finca Re cat bond in 2022.
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The company is a wholly owned subsidiary of AmTrust Financial.
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The carrier previously redeemed from a Herbie Re cat bond for California wildfire claims.
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The deals covered Euro wind and Italy quake, Florida hurricane and a retro bond.
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The ILS market has won market share at the top of programmes as buying expands.
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The bond will provide protection for Allstate’s Florida subsidiary, Castle Key.
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The Italian sponsor has $237mn of limit maturing this July.
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The cat bond limit total is an uplift of around 60% on the carrier’s 2024 bonds.
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Some assets in the Medici Fund were transferred to a new UCITS strategy.
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