Allstate Corp. is sponsoring Sanders Re Ltd. (Series 2018-1), a $400 million catastrophe bond that will shield it from named storms, earthquakes, severe weather, fires and other perils, Artemis reported. The coverage excludes Florida and New Jersey.
Sanders Re Ltd. will issue a single tranche of Series 2018-1 class A notes, which will have an initial expected loss of 0.64%. They are being offered to investors with spread guidance of 5.5% to 6.25%, according to the report.
