Allstate buys extra $500mn top layer on cat cover
The Allstate Corporation came back to market to buy an additional top layer of excess-of-loss cover of close to $500mn on its nationwide reinsurance programme, The Insurance Insider understands.
The new seventh layer on the Aon Benfield-placed cover attaches at $4.25bn, including the US insurance giant's $500mn retention.
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In a significant redesign of its reinsurance
protection last year, the insurer streamlined a number of regional
contracts into a core nationwide cover. The first five layers are
written...
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