catastrophe model

Global risk data technology and analytics firm Verisk has promoted long-standing executive Rob Newbold as the President of its Extreme Event Solutions risk modelling division, to succeed Bill Churney who retires at the end of this year.

Having spent time in Bermuda and attended the recent PwC Insurance Summit on the island, the equity analyst team at BMO Capital Markets has concluded that the insurance and reinsurance industry is suffering a lack of confidence in its risk models, which they say has been a key driver in capital flight and retrenching higher.

KatRisk, a specialist provider of catastrophe modelling solutions for a growing range of perils including flood, wind, fire, weather and climate risks, has secured a growth investment from private equity investor TA Associates.

The global insurance and reinsurance industry now faces an average annual natural catastrophe loss bill of around $133 billion, up 8% from the prior year and now, perhaps alarmingly, up 25% in just two years, according to the latest research from Verisk.

Mitiga Solutions, the risk modeller and calculation agent behind the Danish Red Cross volcano catastrophe bond, has announced a €13.25 million Series A capital raise, to fund its continued development and expansion.

Catastrophe risk modeller Moody’s RMS is integrating Nasdaq’s Risk Modelling for Catastrophes (NRMC) service into its Intelligent Risk Platform, providing consolidated access to more than 300 risk models.

Fermat Capital Management, one of the largest specialist investment managers of catastrophe bonds and insurance-linked securities (ILS) assets, has licensed the Applied Research Associates, Inc. (ARA) HurLoss hurricane model, as it seeks to add new insights from additional views of risk.

Catastrophe risk modelling specialist Karen Clark & Company (KCC) has announced the launch of complete stochastic climate-conditioned catalogs for the weather-related perils its sees as the most impacted by climate change, hurricanes, floods, and wildfires.

One Concern, a resilience-as-a-service solutions provider with a focus on providing upfront information on potential financial impacts of climate related loss events, has appointed former RMS employee Tim Kinsella as its Executive Director, Sales – P&C Insurance.

When it came to analysing hurricane Ian’s approach and potential landfall impacts, the uncertainty in modelled outputs on the storm can be helpful, but really the details and parameters of this major hurricane matter most, Aeolus Capital Management’s Pete Dailey explained yesterday.