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One Concern taps into CoreLogic’s data and models

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 partnered with CoreLogic to use its data and models to enhance its services. One Concern has a unique approach in using artificial intelligence to try and understand, estimate read the full article →

RMS being sold to Moody’s for US $2 billion

Moody's Corporation has agreed to acquire one of the insurance and reinsurance market’s leading catastrophe risk modelling firms, RMS, for a reported price of US $2 billion, in a deal expected to close later this year. Moody's Corporation and RMS said they have entered into a definitive agreement for Moody’s to read the full article →

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 →

Alliance of CEO’s call on G7 & world leaders to scale up climate risk transfer

With the G7 meeting in Cornwall, UK beginning tomorrow and the COP26 only five months away, CEO's of major global corporations are calling on world leaders to scale up climate risk transfer as part of the financial response to climate change. The Alliance of CEO Climate Leaders is a global community read the full article →

More & better “catastrophe-triggered” instruments needed: UN Sec-Gen Guterres

United Nations (UN) Secretary General António Guterres has again said that the world needs more catastrophe-triggered financing and better instruments to support the delivery of climate financing, to enhance disaster resilience, fund adaptation measures and finance climate risk. Speaking today at the Insurance Development Forum's (IDF) Summit 2021, UN Secretary General 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 →

ERS ILS to get climate risk insights from AbsoluteClimo & AKR Zell

ERS ILS Ltd., the dedicated insurance-linked securities (ILS) management division of specialty insurance and reinsurance player ERS, is set to benefit from climate-finance prediction modeling and risk transfer analytics services provided by AbsoluteClimo and AKR Zell. ERS Administration Services Ltd., which is a unit of ERS domiciled in Bermuda, has signed-up read the full article →

Class of 2020 reinsurers & ILS specialists sign up to AIR models

A number of the newly established Class of 2020 insurance and reinsurance companies and ILS fund specialists have signed up to use AIR Worldwide risk models to help them manage catastrophe risk. They include London-listed Bermuda re/insurer Conduit Re, excess and surplus lines (E&S) specialist underwriter Core Specialty, London headquartered and read the full article →

US hurricane insured losses could rise 24%, EU flood 59% by 2050: RMS

Catastrophe risk modelling specialist RMS has said that average annual insurance industry losses from North Atlantic hurricanes could increase by 24% by 2050, while European floods could drive 59% more in insured losses by the same year. This is according to new risk models launched by RMS yesterday, as a suite 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 →