Captives remained resilient to COVID-19 shock

A report by ratings agency A.M. Best Co. Inc. said that European captives remained resilient to the COVID-19 shock and have maintained stable ratings so far this year, Reinsurance News reported. There has been an increase in the use of existing captives, which have also increased their retention and expanded coverage, as traditional insurance and reinsurance renewals see price hikes and tighter terms and conditions.