Sanders Re II cat bond to close at $300mn after dropping lower-risk layer Allstate was targeting $350mn from the US multi-peril bond, however a projected $50mn layer of Class A notes will no longer be issued.
KBW predicts mid-single-digit rate increases in Florida The state is “still a cash cow for reinsurers” as over the past decade the Florida reinsurance combined ratio has been running at 79-80 percent, according to the analysts.
Scor’s Conoscente: property cat correction expected in renewals Reinsurers anticipate a “correction” in property cat prices at Japanese and Florida renewals.
Allstate estimates February cat losses at $151mn The February total compares with $361mn of catastrophe losses for the first quarter as a whole last year.
Oxbridge Re sidecar takes $2mn cat loss hit The tiny retro vehicle supporting the Florida reinsurer was wiped out, as Oxbridge’s premium income fell significantly in 2018.
