Catastrophe modelling firm AIR Worldwide has said that it ranked as the modeller of choice among newly established international insurance and reinsurance companies from the so-called ‘Class of 2020.’
Recently formed re/insurers including Conduit Re, Core Specialty, Inigo Ltd, Integral ILS Ltd, and Vantage Risk have all opted for services from AIR, which is a Verisk business.
“We’re thrilled to see such a varied group of (re)insurance companies select AIR as their preferred modelling firm,” said Rob Newbold, executive vice president, AIR Worldwide.
“It seems that one thing that pure play reinsurers, Lloyds-focused insurers, and alternative asset managers across the world have in common is that they all trust AIR to provide model results that can be reliably used as the main view of risk, and a software platform that meets the increasing needs for performance, transparency and flexibility.”
AIR provides risk modelling solutions to the global insurance industry and to-date 16 of the top 20 non-life reinsurers; 8 of the top 10 global non-life insurers; 8 of the top 10 Lloyd’s syndicates; and all of the top 5 global reinsurance brokers work with AIR.
“As a pure play global reinsurance business with an ambition to write a profitable and well-diversified book of business, it was important for us to find a modeler who understood our needs and was able to offer sophisticated yet easy to use solutions to help manage our growing reinsurance portfolio,” said Trevor Carvey, CEO of Conduit Re.
Russell Merrett, CUO of Inigo Ltd., also commented: “As a new insurer focused on the Lloyd’s market, we determined very quickly that AIR’s models and software were able to provide solutions for all of our key specialty lines, including reinsurance and property insurance, and also provide in short order a valuable portfolio roll-up capability.”
Chris McKeown, Chief Executive of Reinsurance and ILS for Vantage Group, added: “Vantage Risk’s initial launch has been very successful in Reinsurance. AIR’s Touchstone platform gives us the ability to speedily and quantitatively assess the opportunities presented to us, and to distinguish ourselves already as a new entrant in the catastrophe market.”
“We’re extremely proud to have so many innovative insurance companies from the class of 2020 select AIR over other solutions and rely on AIR model results as their preferred view of risk,” remarked Milan Simic, executive vice president and head of Global Business Development, Verisk Insurance.
