Losses and IBNR reserves related to the COVID-19 coronavirus pandemic reported by major insurance and reinsurance companies have risen significantly during the first-quarter of 2021, with the total pandemic loss reported now nearing $38 billion, having risen by 21% during reporting for the final-quarter results of 2020.
Global reinsurance firms have been among those reporting significant increases in recent weeks, suggesting some attritional impacts have likely been seen through their quota shares, sidecars and other whole-account retro reinsurance arrangements.
