Reinsurance News

Risk Modelling

Reinsurers could be underestimating seismicity risk following megathrust events

14th June 2022

Seismic hazard models attempt to predict the long term risk of earthquakes by looking at, among other things, the slowly changing stress that builds on faults. However, there is new evidence to suggest that megathrusts and other very large earthquakes fundamentally alter the nature of the hazard. It seems that these large ... Read the full article

RMS upgrades weather & terror models to high def

20th May 2022

RMS, the Moody’s-owned risk modelling and solutions company, has announced it will release four new high definition risk models, including for Europe Windstorm, North America Winterstorm (WT), North America Severe Convective Storm (SCS), and Terrorism. The HD probabilistic models incorporate a high-fidelity, simulation-based framework for modelling event frequency and severity, which ... Read the full article

RMS launches cloud-based application, UnderwriteIQ

18th May 2022

RMS, a risk modelling and solutions company has announced that it will be launching a new application – UnderwriteIQ, which will be hosted on the cloud-based RMS Intelligent Risk Platform. The application will enable underwriters to have greater control of risks by bringing hazard, exposure, and loss data together in the ... Read the full article

Skyfora updates Tropical Storm Seasonal Forecast model

5th April 2022

Skyfora has updated its Tropical Storm Seasonal Forecast model, a solution which provides probabilistic predictions for the likelihood of various events in different categories for the upcoming tropical cyclone season. The categories consist of tropical cyclone (TC) intensity, TC genesis by region, and TC landfall by region. In addition to pre-season forecasts ... Read the full article

Xceedance enters into partnership with Ultimate Risk Solutions

21st March 2022

Re/insurance service provider Xceedance has announced a partnership with Ultimate Risk Solutions (URS) to deliver risk management, modelling and actuarial and analytics services to insurance organisations worldwide. The partnership combines URS’s expertise in risk and financial modelling with the actuarial and analytics capabilities from Xceedance, enabling insurance organisations to optimise reinsurance ... Read the full article

NN Re picks RMS for risk analysis on Orange Capital Re bond

11th February 2022

Risk modelling and solutions company RMS has been choosen by NN Re to conduct the risk analysis for its new catastrophe bond, issued through Orange Capital Re DAC. NN Re, which is the reinsurance and hedging company of NN Group, an international financial services company, issued Orange Capital Re DAC ... Read the full article

New Zealand’s Earthquake Commission to use new loss modelling platform

27th January 2022

New Zealand's Earthquake Commission (EQC) expects its new loss modelling capability will boost its ability to plan for future natural disasters and respond to them when they occur. Along with two of the country's other research institutions, EQC is now using GNS Science and NIWA’s risk tool to model damage and ... Read the full article

RMS signs consultancy agreement with Tunis Re

30th December 2021

Catastrophe risk modelling and solutions company RMS has signed a consulting agreement with Tunis Re to create an exposure and accumulation study, with a focus on Flood, Terrorism and other natural catastrophes. It's hoped the work will enable Tunis Re to increase monitoring of its exposures and further expand its risk ... Read the full article

Climate models are becoming increasingly critical: Aeolus

23rd November 2021

Insurance and reinsurance companies are naturally at the forefront of understanding climate change risk, and as the climate and resilience debate intensifies around the world, climate models are becoming more important, according to Aeolus Capital Management Ltd. Artemis, our insurance-linked securities (ILS) focused sister site, recently hosted a live ... Read the full article

Climate modeller Terrafuse AI launches platform for Cali wildfire risk

22nd October 2021

Terrafuse AI, a climate and weather risk forecasting tool developer, has launched a new platform for assessing and mitigating the growing property risk from wildfires in California, called Wildfire AI. Nearly 4.5 million U.S. homes were identified at high or extreme risk of wildfire, with more than 2 million in California ... Read the full article

RMS being offered for sale by owner DMGT

12th July 2021

RMS, one of the leading catastrophe risk modelling companies serving the insurance and reinsurance industry, is being offered for sale by its ultimate owner DMGT (Daily Mail and General Trust plc). DMGT said this morning in announcing a possible reorganisation and acquisition of all of its shares by its main holder, ... Read the full article

New Zealand’s EQC says hazard data key to reinsurance confidence

18th June 2021

New Zealand’s Earthquake Commission (EQC) has said that ongoing investment in natural hazard science, including the geological hazard monitoring service GeoNet, is key to maintaining the confidence of international reinsurance markets in providing coverage for the country. Fraser Gardiner, Chief Financial Officer at the EQC, noted that the GeoNet platform not ... Read the full article

Hurricane risk landscape is becoming more complex: RMS

3rd June 2021

RMS' latest update to its North Atlantic hurricane model continues to evolve the science of hurricane risk modelling, as the changing climate, growing exposures and changing market conditions drive an increasingly complex risk landscape, according to Jeff Waters and Ben Brookes. The latest in our sister publication Artemis' series ... Read the full article

North Atlantic Hurricane losses could increase 24% by 2050: RMS

7th May 2021

Catastrophe risk modelling and solutions company RMS has revealed that according to its new Climate Change Models, insured average annual losses (AAL) from North Atlantic Hurricane wind could potentially increase by as much as 24% by 2050. It also noted that European Flood risk AAL could increase by up to 59% ... Read the full article

RMS launches new climate change models

22nd March 2021

Catastrophe risk modeller RMS has launched new climate change models to help its customers assess the near and long-term impacts of climate change on physical assets and their businesses. The new models include RMS’s economic modelling framework which uses climate science consensus, including from the Intergovernmental Panel on Climate Change (IPCC). The ... Read the full article