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Allstate cat bond upsizes to $500M

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Allstate cat bond upsizes to $500M

Allstate Corp.'s Sanders Re Ltd. (Series 2018-1) U.S. multi-peril deal has upsized to $500 million from the initial size of $400 million, Artemis reported.

Pricing has settled at the low end of the 5.5% to 6.25% range.

The deal would protect Allstate from named storms, earthquakes, severe weather, fires and other perils. The coverage excludes Florida and New Jersey.