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Allstate-backed $375m cat bond listed on BSX

US insurer Allstate is behind a new $375 million cat bond to be listed on the Bermuda Stock Exchange.

The BSX announced yesterday that the Sanders Re 2017-1 cat bond had been admitted for listing.

The bond will cover Allstate and its subsidiaries against losses from a range of US perils, including named storms, earthquakes, severe thunderstorms, volcanic eruption and meteorite impacts, according to the Artemis website.

Investors will receive a coupon of 3 per cent, Artemis reported.

Allstate: the Sanders Re cat bond will provide reinsurance coverage for the US insurance giant

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Published March 31, 2017 at 9:00 am (Updated March 30, 2017 at 8:59 pm)

Allstate-backed $375m cat bond listed on BSX

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