Archive for December, 2020

Some of the earlier and larger retrocessional reinsurance programs in the market have received their firm orders or are completed, with indications that suggest rates are increasing even for some of the largest and most respected reinsurers in the market, suggesting much better returns are available for writing this business.

Global reinsurance giant Munich Re has lifted its estimate for losses from the COVID-19 pandemic to more than US $4 billion for 2020, as the reinsurer increased its estimate significantly to account for fourth-quarter losses.

Core Specialty has now launched after the private equity capitalisation and rebranding of Enstar’s StarStone U.S. operations, with Jeff Consolino and Ed Noonan at the helm, while industry veterans Dominic Addesso and Don Larson have also been added to the board.

AXA XL, the commercial property & casualty insurance and reinsurance arm of the AXA Group, is targeting a reduction in its natural catastrophe exposure over the coming years, as it looks to bring its business results to a sustainable and profitable level.