RMS Licenses Cat Modeling Software Programs to China Re

Risk Management Solutions (RMS) announced that China Reinsurance (Group) Corporation, the largest reinsurer in Asia, will “license its catastrophe modeling software to support the expansion of China Re’s property and casualty reinsurance business.

“China Re will use RMS’ models for Asia and Australia earthquake risk, as well as Japan typhoon, to enhance its underwriting and catastrophe risk management processes and advance its footprint in China and internationally.”

Matthew Grant, global head of client development at RMS, commented: “China Re is a major player in the domestic reinsurance market and is increasing its presence in the international arena. We’re extremely pleased to be working with China Re, and will continue to support the dynamic needs of the Chinese insurance industry as its catastrophe risk management requirements and the demand for advanced analytics increase.”

Zhao Xiaoqiang, general manager of business management department at China Re, stated: “RMS has a reputation for providing market-leading catastrophe risk models, and will be investing further to develop their modeling capabilities in the Pan-Asian region. As we continue to grow and enhance our risk management decision-making, it is essential that we have access to the best analytics.”

Source: Risk Management Solutions