Allstate to recover $1.08bn of $1.67bn gross Q1 cat losses

April 15, 2021

Allstate took $252mn of gross cat losses in March, taking its Q1 total to $1.67bn, as it outlined expectations of a $184mn cat bond recovery amongst more than $1bn of reinsurance recoveries and subrogation benefits.

The insurer had warned it was set to trigger the deal after taking $1.3bn of gross losses from February’s winter storm Uri.

The

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