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Newark, Calif. - October 03, 2013 RMS, the world's leading catastrophe modeling firm, today announced that the company conducted the risk analysis for a catastrophe bond recently issued through Atlas IX Capital Ltd. The bond, Atlas IX Capital Limited (Series 2013-1), sponsored by SCOR, transfers $180 million of U.S. excess mortality risk to the capital markets and proxies exposure to high levels of mortality over a six-year period, reducing basis risk and providing SCOR effective protection. This deal has been rated by S&P and is the first public issuance of an excess mortality bond by a sponsor other than Swiss Re.

RMS used its suite of sophisticated LifeRisks models to conduct the analysis, providing robust risk quantification for factors such as longevity, infectious disease, U.S. earthquake casualty, probabilistic terrorism and residual risk.

"The RMS state-of-the-art LifeRisks models are proven and allow investors to gain intuition about the risk," said Peter Nakada, managing director, capital markets at RMS. "Our event-based model for infectious disease allows investors to see the scenarios that could cause the bond to trigger."

The bond allows SCOR to diversify its capital protection tools, providing a multi-year cover at a fixed premium. SCOR selected RMS as the risk modeling firm best positioned to help them achieve this because of reliable modeling and previous work with excess mortality.

The bond priced at the low end of guidance and upsized from $125m to $180m. The paid coupon, at 3.5% above a floating rate, provides cover against an annualized attachment probability of 1.16%.

The deal was originally launched with two tranches, but high demand allowed SCOR to place all $180m into the riskier Class B notes. Class B notes are triggered by the lowest index value, of this index type, of any current public offering.

"The Series 2013-1 note offering of Atlas IX has created tremendous interest, enabling SCOR Global Life to secure substantial protection against its increased pandemic exposure following the strong growth of its portfolio, with the acquisition of Generali U.S. being the latest example," said Gilles Meyer, chief executive officer of SCOR Global Life. "In combination with the innovation of an exceptionally low attachment point, the secured protection represents a very cost efficient risk mitigation tool."

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About RMS

Risk Management Solutions, Inc. (RMS) helps insurers, financial markets, corporations, and public agencies evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics. RMS models underlie the nearly $2 trillion Property & Casualty industry and many insurers, reinsurers, and brokers around the world rely on RMS model science.

RMS helped pioneer the catastrophe risk industry, and continues to lead in innovation by marrying data and advanced model science with leading-edge SaaS technology. Leaders across multiple industries can address the risks of tomorrow with RMS Risk Intelligence™ (RI), our open, unified cloud platform for global risk, enabling them to tap into RMS HD models, rich data layers, intuitive applications, and APIs.

Further supporting the industry's transition to modern risk management, RMS spearheaded the Risk Data Open Standard (RDOS), a new modern open standard data schema designed to be an extensible, flexible, and future-proof asset within modeling/analysis systems.

RMS is a trusted solutions partner enabling effective risk management for better business decision making across risk identification and selection, mitigation, underwriting, and portfolio management.

Visit RMS.com to learn more and follow us on LinkedIn and Twitter.

(C) 2021 Risk Management Solutions, Inc. RMS, the RMS logo, and RMS Risk Intelligence are trademarks of Risk Management Solutions, Inc. All other trademarks are property of their respective owners.

Media Contacts

Matthew Longbottom

PR Lead, EU and APAC
+44 20 7444 7706 prteam@rms.com

Devonne Cusi

PR Lead, Americas
+1 551 226 1604 prteam@rms.com
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