RMS Strengthens Client Support in Asia-Pacific With New Office in Australia
Sydney operation will be led by Pierre Wiart, who returns to RMS after successful roles with leading brokers, reinsurers and in ILS consultancy
October 25, 2017 -
RMS, a global risk modeling and analytics firm, has opened a new office in Sydney, Australia, as part of its drive to support clients’ expansion in the Australian and New Zealand markets. The focus will be to help (re)insurers with the adoption of new models and to advise the region’s superannuation funds as they invest in insurance-linked securities (ILS).
The office’s managing director is Dr. Pierre Wiart, who will be responsible for client relationships and market development in Australia and New Zealand. Commenting on the new facility in Sydney, Dr. Wiart said: “RMS has first-rate modeling capability for this region. As well as our earthquake HD model for New Zealand, which has been offering clients the most advanced insights into seismic risk since it was released last year, next year will see updates of the cyclone and earthquake models for Australia. My task is to make clients’ adoption seamless and help them underwrite the best book of business, based upon best-in-class models.”
Wiart started his career in catastrophe risk modeling in 2000 at RMS, before working for AON, White Mountains Re in Bermuda, SCOR, QIC and IAG Re. His experience includes managing funds and providing consultancy in the ILS sector. This is an expertise he will bring to investors in Australia and New Zealand who are looking to diversify into catastrophe risk, further strengthening RMS capital markets specialism in Asia-Pacific. He is also committed to driving forward the RMS agenda to help the industry close the protection gap, focusing on resilient solutions for the public and private sectors alike.
Paul Burgess, RMS regional vice president, client development in Asia-Pacific, added: “It’s great to have Pierre back on board at RMS. Over the past decade he has gained experience across the international insurance industry, as well as with alternative capital and ILS. This insight will help RMS better support clients in the Australian and New Zealand markets, not only in property lines but in emerging classes of risk such as cyber.”
The Sydney office expands RMS presence in the Asia-Pacific region, alongside offices in Delhi, Beijing, Tokyo and Singapore. As well as new analytics for clients in Australia and New Zealand, the coming year in the Asia-Pacific region will also see updates to the RMS® Taiwan Earthquake Model, the RMS® Japan Earthquake Model and the RMS® India Earthquake Model, plus the introduction of new models for typhoon risk in the Philippines and earthquake risk in South Korea.
RMS solutions help insurers, financial markets, corporations, and public agencies evaluate and manage catastrophe risks throughout the world. RMS has over 1,200 employees across 13 offices in the US, London, Bermuda, Zurich, India, China, Japan, Singapore and Australia - our products and models covering six continents.
We lead an industry that we helped to pioneer—catastrophe risk modeling—and are delivering models, data, and risk management solutions on the RMS(one)® platform to transform the world’s understanding and quantification of risk through open, real-time exposure and risk management.
More than 400 insurers, reinsurers, trading companies, and other financial institutions trust RMS solutions to better understand and manage the risks of natural and human-made catastrophes, including hurricanes, earthquakes, floods, terrorism, and pandemics.