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Allstate says winter storm loss to trigger Sanders Re II 2019-1 cat bond

March 18, 2021

US primary insurer Allstate has revealed a significant approximately $1.3 billion gross loss from the winter storms and severe winter freeze, primarily impacting Texas, which it warns mean its aggregate reinsurance will trigger, which is provided by its Sanders Re catastrophe bonds.

Allstate said that the $1.3 billion of gross losses from the winter storms and deep freeze are set to be significantly reduced thanks to reinsurance recoveries.

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