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RMS sale on the cards as owner cites “possible disposal”

One of the insurance and reinsurance market's leading catastrophe risk modelling firms, RMS, is being offered for sale by its owner DMGT. This morning, in announcing a reorganisation and possibly buy-out by its major shareholders, DMGT noted that any such deal would be conditional on a sale of RMS. DMGT said, "Its read the full article →

Aon launches Florida hurricane catastrophe risk model

Insurance and reinsurance broker Aon has announced the launch of a new Florida hurricane catastrophe risk model developed by its specialist Impact Forecasting unit, as it seeks to provide an alternative view of the risk to market participants. Aon said that the new Florida hurricane model brings together the latest research read the full article →

Stone Point Capital & Insight Partners complete CoreLogic acquisition

Insurance and reinsurance focused private equity firm Stone Point Capital LLC and New York venture and private equity firm Insight Partners have completed their roughly $5.9 billion acquisition of CoreLogic, the property risk modelling, data and analytics company. The acquisition deal was announced back in April, providing CoreLogic with a route read the full article →

RMS Atlantic hurricane model update may adjust cat bond risk metrics

Catastrophe risk modelling specialist RMS has announced the launch of what it calls "significant updates" to its North Atlantic Hurricane (NAHU) Models, incorporating data from recent active years, including from 2017's Harvey and Irma. RMS said that version 21.0 of its North Atlantic Hurricane risk model now includes medium-term event rates, read the full article →

CoreLogic to be acquired by Stone Point Capital & Insight Partners for $5.89bn

CoreLogic, the property risk modelling, data and analytics company, has announced that it is being acquired by reinsurance focused private equity firm Stone Point Capital LLC and New York venture and private equity firm Insight Partners for roughly $5.89bn. CoreLogic has been the subject of a number of unsolicited bids over read the full article →

Climate change could take 18% off global GDP, warns Swiss Re

Driving home the importance of climate risk mitigation, resilience building and also the role of insurance or reinsurance in providing climate risk transfer, global reinsurer Swiss Re warns that the world's economy risks a significant hit as the climate changes. If no mitigating actions are taken to prevent or build resilience read the full article →

Oasis gets industry backing for Loss Modelling Framework & open source standards

Oasis, the open source catastrophe risk modelling platform, has received significant backing from insurance and reinsurance sector leading firms for the continued development and expansion of its Oasis Oasis Loss Modelling Framework and open source standards. Among the backers are leading insurance and reinsurance brokers and underwriting companies: Aon, Allianz, AXA, read the full article →

Climate to drive massive demand for contingent risk capital: Douglas, ILS NYC 2021

The deepening of the world's understanding, measurement and valuation of climate risks is going to drive a massive demand for contingent risk capital, which parametric triggers and insurance-linked securities (ILS) will be well-suited to serve, Rowan Douglas of Willis Towers Watson explained during our ILS NYC event this week. Rowan Douglas, read the full article →

Climate change may increase hurricane damage & losses: AIR-led report

Climate change and the future state of our climate may mean increased damage and ultimately insurance and reinsurance market losses from hurricanes, as more frequent storms and sea-level rise ramp up storm surge impacts in particular. This is the conclusion of a study undertaken by risk modeller AIR Worldwide, insurance and read the full article →

“Time to act” as climate role in disaster losses increases: Jeworrek, Munich Re

It is time for the world to act on climate change as it will play an increasing role in disaster losses, Torsten Jeworrek of reinsurance company Munich Re warned today. Munich Re reported today that the global insurance and reinsurance industry faced some $82 billion of natural disaster losses in 2020, read the full article →