Allstate Insurance Company is seeking to raise $300mn from a new four-year Sanders Re cat bond in its first nationwide indemnity insurance-linked securities transaction, sister publication Trading Risk reported last week (6 March).
The indemnity per-occurrence transaction will cover named storms, earthquakes, severe thunderstorms and winter storms across the US, with the exception of Florida and New Jersey.
However, there is a provision to include New Jersey in the multi-year deal after its annual reset.
The Sanders Re 2017 deal...
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