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NEWARK, Calif. - August 26, 2014 RMS, the world’s leading catastrophe risk management firm, today announced that it worked with China Property and Casualty Reinsurance Company (China Re P&C) to reduce the uncertainty in the RMS China Typhoon model. The technical collaboration with China Re P&C, a leading non-life reinsurance company in China, provided RMS with deeper insight into China’s typhoon risk that has strengthened the model’s risk differentiation capability.

“China Re P&C’s extensive research into China’s catastrophe risk, which has been carried out over many years, has enabled us to create a robust historical record of catastrophe data,” said Sen Chen, vice president and chief actuary, China Re P&C. “RMS is an important risk management partner for us. We’ve been licensing RMS catastrophe models since 2010 and have established a strong and cooperative relationship.”

“We are delighted by the opportunity to collaborate with China Re P&C to advance our China Typhoon model. Working together has enabled us to provide a more robust view of China typhoon risk,” said Jason Futers, senior vice president and head of Europe and Asia sales at RMS. “Our model enables enhanced risk differentiation and pricing and portfolio-management of typhoon risk; a peril that is increasingly becoming a driver of annual losses for the industry.”

The RMS China Typhoon model enables users to deepen their understanding of China typhoon risk and better inform their capacity allocation and capital management decisions, as well as determine appropriate insurance and reinsurance structures and premium rates. The model includes coastal flood for the entire China coastline and embeds a state-of-the-art, fully dynamic storm surge model for Hong Kong that takes into account unique complexities of the coastline. It covers losses from storm-surge-driven coastal flooding, rainfall-driven flood and wind to provide a complete view of China typhoon risk – a region where flood can contribute up to 80 percent of the total typhoon risk.

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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 leads the catastrophe risk industry that we helped to pioneer by marrying data and advanced model science with leading-edge technology. Leaders across multiple industries can address the risks of tomorrow through RMS Risk Intelligence™, our open, real-time exposure and risk management platform, enabling them to tap into RMS HD models, rich data layers, intuitive applications and APIs that simply integrate into existing enterprise systems.

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

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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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