Catastrophe risk modelling specialists RMS have hired Pierre Wiart, an experienced ILS sector executive, to open an office in Sydney, Australia, with the goal of helping the risk modeller strengthen its client support in Asia-Pacific and offer advise to local superannuation funds investing in ILS.
Wiart has worked at RMS before, having begun his career in catastrophe risk modeling in 2000 at the firm. He later went on to work in a variety of insurance and reinsurance roles at Aon, White Mountains Re in Bermuda, SCOR, QIC and IAG Re.
Wiart has always had a focus on the insurance-linked securities (ILS) space and has experience managing funds and consulting to investors on ILS strategies.
RMS has hired Wiart with the goal of bringing that expertise to investors in Australia and New Zealand who are looking to diversify into catastrophe risk and ILS assets, which the firm sees as strengthening its capital markets activities in Asia-Pacific.
Wiart will be managing director of the RMS office in Sydney, Australia, responsible for client relationships and market development in Australia and New Zealand.
Wiart commented on the news, “RMS has first-rate modeling capability for this region. As well as our earthquake HD model for New Zealand, which has been offering clients the most advanced insights into seismic risk since it was released last year, next year will see updates of the cyclone and earthquake models for Australia. My task is to make clients’ adoption seamless and help them underwrite the best book of business, based upon best-in-class models.”
Wiart will also help RMS to drive forward the protection gap agenda, focusing on resilient solutions for the public and private sectors alike.
Paul Burgess, RMS regional vice president, client development in Asia-Pacific, commented, “It’s great to have Pierre back on board at RMS. Over the past decade he has gained experience across the international insurance industry, as well as with alternative capital and ILS. This insight will help RMS better support clients in the Australian and New Zealand markets, not only in property lines but in emerging classes of risk such as cyber.”
In Asia-Pacific, the new Sydney office adds to RMS’ presence in the region, alongside offices in Delhi, Beijing, Tokyo and Singapore.