Eleven major reinsurers have joined forces to launch an association to be known as the Global Reinsurance Forum.

Reinsurance company CEOs gathered to announce the new body during the annual Rendez-vous in Monte Carlo last week.

Forum Chairman and Scor CEO Denis Kessler says the group will promote a “stable, innovative and competitive reinsurance market environment on a worldwide basis”.

Mr Kessler says the forum was intended to complement rather than replace existing groups such as the Reinsurance Association of America.

Founding members are Swiss Re, Munich Re, Hannover Re, Lloyd’s, Reinsurance Group of America, XL Capital, Gen Re, Partner Re, Scor, Toa Re, and Transatlantic Re.