Allstate, State Farm each look for $1bn more cat as surge in demand looms
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Allstate, State Farm each look for $1bn more cat as surge in demand looms

allstate-logo.jpg

Allstate and State Farm have told reinsurers early that they will each need to buy roughly $1bn of additional cat limit at 1 June 2023, as the reinsurance market forecasts a major demand boom for cat limit resulting from inflationary pressure.

Sources told this publication that Allstate and State Farm are among a group of cedants looking to accelerate work on future reinsurance placements, as they seek to proactively manage an expected supply-demand imbalance in cat.

The

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Gift this article