Bigger picture is that even if pandemic is ruled as covered in...

Bigger picture is that even if pandemic is ruled as covered in UK, QBE already announced that its exposures are largely limited by risk transfer to reinsurance. Insurance is one of those sectors in this environment that remains viable and will continue to be so. As Warren Buffett stated, in terms of cash flow, it is the best business to be in. Insurers get advance premium and are able to use the money to invest until claims eventuate. In long tail claims, such as liability, this could be many years. The rare instances where insurers go under are those where insurers get too greedy and under provide for claims or through inadequate premium pricing or take on the risks all onto themselves by keeping premiums without sufficient risks transfer to reinsurance and QBE is not one of those, it is conservative under the current management.