The special-purpose reinsurers known as side-cars are likely to become increasingly important in insurer and reinsurer business strategy, a rating service is predicting.
Moody's Investors Service in New York said in a report that such operations represent an innovative capital- and risk management development.
The firm noted that side-cars are a recent innovation in the "catastrophe-battered insurance and reinsurance industries, whose managements are seeking solutions to stabilize capital and to reduce earnings volatility."
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