After the mid-year 2025 reinsurance renewals, Allstate had a Florida catastrophe reinsurance tower that extended to cover $1.1 billion of losses. As part of the slightly smaller 2026 Florida reinsurance tower, Allstate still has the $150 million of limit from the Sanders Re II Ltd. (Series 2025-2) cat bond issuance. As a result, across the 2026 Florida catastrophe reinsurance tower, this year Allstate has $380 million of cat bond limit, up from $216 million in the 2025 Florida cat tower. Outside of the Florida reinsurance program, Allstate has also renewed its National General Lender Services standalone reinsurance program. As a result, Allstate currently has $3.73 billion of catastrophe bond coverage outstanding, according to our leaderboard of cat bond sponsors.