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Newark, Calif. - April 28, 2017  RMS, a leading risk modeling and analytics firm, today announced that Latin America reinsurer Reaseguradora Patria (Patria Re) has licensed its full range of models and analytical services for Latin America and the Caribbean.

These regions have a high exposure to natural catastrophe risk that produce a significant proportion of property segment losses for Patria Re. The firm is looking to grow in these markets by limiting losses through more sophisticated risk management practices, in which the RMS suite of catastrophe models, informed by the latest science, will play a central role. Patria Re is also seeking to compete more strongly with the established international reinsurers in these markets, by offering expanded RMS analytical services to its customers.

“We have a responsibility to work with the best risk management companies and use the best models and analytics to manage our catastrophe risk,” said Francisco Martínez, "Vicepresidente de Suscripción", underwriting at Patria Re. “By having access to the advanced science and modeling capabilities of RMS, we can offer truly customized coverage for our clients.”

RMS continues to invest heavily in researching hazard, vulnerability and exposure in Latin America to develop models, data products, and services that meet the needs of the region. Most recently, RMS developers conducted a comprehensive, 18-month hurricane vulnerability study in the Caribbean, Mexico, and Central America. A team of engineers also visited Ecuador following the April 2016 M7.8 Muisne earthquake to study the seismic performance of buildings in the country. These investments led to an improved understanding of the earthquake and hurricane risk in the region, leading to more detailed and accurate science, data, and modeling. 

“We have never been more committed to the success of our Latin America clients and their need for risk management solutions to create more differentiation and diversification opportunities for their business,” said Victor Roldán, regional head for Latin America at RMS. “To support our clients’ pursuit for competitive advantage and sustainable growth, we are continually extending and enhancing our models, risk data and analytics to reflect the diverse needs of the region’s countries, market segments, and individual firms.”

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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.

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

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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