trending Market Intelligence /marketintelligence/en/news-insights/trending/68wNq7o5hERhCuWJiHRC6g2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Report: 1 tranche of Allstate-sponsored cat bond not to be issued

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February

Lemonade Growing Premiums Faster Than Esurance's Homeowners Business Did


Report: 1 tranche of Allstate-sponsored cat bond not to be issued

One of the tranches that was to be in the Sanders Re II Ltd. (Series 2019-1) catastrophe bond sponsored by Allstate Corp. will not be issued.

Pricing for the lower-risk layer of the offering may not be viable, insurance-linked securities blog Artemis reported. Allstate is reportedly looking for another source of reinsurance to replace the tranche.

The size of the remaining higher-risk layer is unchanged at $300 million; its pricing was moved to the top end of the initial guidance in the range of 11.25% to 12.25%. This tranche covers U.S. named storms, earthquakes, severe weather, fire and other perils, but will not cover any risks in Florida.

The notes would attach on an occurrence basis at $2.75 billion of losses and aggregate basis at $3.54 billion. The notes, which have an initial expected loss of just slightly under 1.57%, will cover a $400 million layer of the insurer's reinsurance tower.