Global catastrophe risk modelling firm, RMS, has opened a new office in Sydney, Australia, and named re/insurance and insurance-linked securities (ILS) specialist, Dr. Pierre Wiart, as Managing Director of the new operation.
The new office strengthens the firm’s client support across the Asia-Pacific, and supports expansion in the Australian and New Zealand markets. According to RMS, the new unit will focus on assisting insurers and reinsurers adopt new models, while advising regional superannuation funds on their ILS investments.
Dr. Wiart, who will lead the new office and take responsibility for both client relationships and market development in Australia and New Zealand, commented; “RMS has first-rate modeling capability for this region. As well as our earthquake HD model for New Zealand, which has been offering clients the most advanced insights into seismic risk since it was released last year, next year will see updates of the cyclone and earthquake models for Australia.
“My task is to make clients’ adoption seamless and help them underwrite the best book of business, based upon best-in-class models.”
Dr. Wiart first joined RMS in the year 2000, before working for Aon, White Mountains Re in Bermuda, SCOR, QIC, and also IAG Re. He has extensive experience managing funds providing consultancy in the ILS space, and will transfer his knowledge to his new leadership role at RMS.
RMS Regional Vice President, Client Development in Asia-Pacific, Paul Burgess, said; “It’s great to have Pierre back on board at RMS. Over the past decade he has gained experience across the international insurance industry, as well as with alternative capital and ILS. This insight will help RMS better support clients in the Australian and New Zealand markets, not only in property lines but in emerging classes of risk such as cyber.”