risk model

The insurance, reinsurance and insurance-linked securities (ILS) market faces a catastrophe risk modelling duopoly as 30 years after the commercialisation of cat risk models the industry is still dominated by just two vendors, says Simplitium.

The development of sophisticated catastrophe risk models has been integral to the growth of the insurance-linked securities (ILS) market, making it easier to understand and visualise risk exposures, roll up portfolios and identify insurance and reinsurance linked investment opportunities.

Catastrophe risk modelling firm AIR Worldwide has released an updated version of its United States wildfire risk model, a timely update given the impactful start to the California wildfire season in 2018.

AIR Worldwide has announced the launch of its awaited next-generation catastrophe risk modelling software solution, Touchstone Re which is designed for estimating the loss potential of reinsurance contracts and portfolios, industry loss warranties, and insurance-linked securities.

Catastrophe risk modelling specialists RMS have launched version 18 of their risk model suite, brining with it a raft of additions and expansions, particularly in the Asia Pacific region where new perils have been added including a focus on flood risks.

AIR Worldwide and Bermudian reinsurance firm RenaissanceRe are collaborating on the development of what they call the industry’s first probabilistic casualty catastrophe risk model, which the pair say will enhance the industry’s modeling of long-tail casualty risk.

Hemant Shah has stepped down from his role as Chief Executive Officer of catastrophe risk modelling and analytics specialist RMS, to be replaced by ex-Oracle executive Karen White.

Catastrophe risk modelling specialist RMS has announced the hiring of Adam Sandler, previously from QBE North America, to the role of Head of Underwriting, Cyber & Model Solutions, a position that will see him leading a focus on digital risks and underwriting transformation.

Praedicat, a leading casualty catastrophe risk modelling company, has secured a $6 million Series AA round of investment, from sources including existing investor catastrophe risk modelling specialist Risk Management Solutions, Inc. (RMS) and Jacques Dubois.

UK life insurer Zurich Assurance Ltd. is looking to enhance its view of longevity risk so it can better manage and transfer exposures accumulated through insurance products sold to pension funds, with the help of risk modelling firm RMS and its Longevity Risk Model.