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International

Pandemic prompts cedents' preference for rated paper

October 30, 2020 Reprints

Kevin O'Donnell, chief executive of Bermuda-based reinsurer RenaissanceRe Holdings Ltd., said that the COVID-19 pandemic and business interruption losses will elevate cedents' preference for rated paper, Artemis reports. As it will take the insurance industry years to assess the impact of pandemic-related business interruption claims, cedents will increasingly prefer the certainty of rated balance-sheet providers over collateralized vehicles.

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Pandemic prompts cedents' preference for rated paper

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