Allstate adds $175mn gap limit to nationwide cat cover

Allstate has completed the placement of its core nationwide
property cat reinsurance programme as it bought a modest amount of
additional limit towards the top of the tower.
The company disclosed details of the cover as it released Q1
financials that included a near halving of operating profits driven
by previously announced cat losses in the period.
The US personal lines giant revealed that the majority of the
cat programme's structure will renew as expiring when cover
incepts on 1...