There's at least a modicum of good news breaking for reinsurers: Despite the catastrophic beginning to 2011 due to earthquakes, tsunamis and other storms, a report released today from Aon Benfield finds that capital levels in reinsurance industry were excellent at the end of 2010.

The latest edition of the Aon Benfield Aggregate (ABA) report, which analyzed the year-end 2010 financial position of the world’s leading reinsurers and examined how 2011 catastrophe losses may affect their capital positions, estimates that total Global Reinsurer Capital reached an all-time high of $470 billion as of Dec. 31, 2010—a 17% increase from 2009 period.

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