Munich Re
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The total value of Eden Re has fallen 17% compared with 2020.
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The year was marked by record North Atlantic storms, which put the loss tally more than 40% ahead of mild 2019 experience. -
The initial $55.1mn bond is slightly above the equivalent December 2019 issuance.
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The German carrier pegs the full-year impact of the pandemic on its reinsurance operations at EUR3.4bn.
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Suncorp, IAG and QBE reinsurers could face significant recoveries after a landmark court ruling.
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“Non-Covid” claims in the quarter also came in above average, with the Beirut blast its largest man-made loss.
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The reinsurers point to falling interest rates and loss experience as the basis for further hardening.
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The European reinsurance chief says interest rates and loss experience drive the carrier’s hardening stance.
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The deal follows an earlier fronting agreement supported by Markel, Nephila and RenaissanceRe.
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Major reinsurance carriers like Munich Re, Hannover Re and MS Amlin are significant providers to some of the state's regional carriers, analysis suggests.
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Retro capital is being trapped, but cyber and other non-cat risks show promise.
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CUO Golling calls for government-backed national pools with parametric triggers and mandatory coverage.
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