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2 August 2023Insurance

Allstate slashes Florida reinsurance, rebuilds US core tower piecemeal

US property insurer Allstate cut way back on its reinsurance cover for Florida catastrophe at the mid-year renewals, then had to work piecemeal to build the maturing one-third of its core programme's base layers.

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Allstate falls to catastrophes: costly June events render $2.7bn Q2 bill

21 July 2023 The Q2 tally is 2.4x an already catty prior year period and well ahead of storm counts.

Allstate brings carrot & stick to California: could walk out altogether

14 July 2023 ‘Without pricing enhancements, Allstate will remain closed to new business’: CRO Schoolman.

Allstate turns Q2 cat losses into eye-popping $1.4bn net loss

2 August 2023 Regulated rate can’t catch cat losses & reserves, barely covers plain-old frequency-severity

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