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Insurance Solutions

Formerly Moody’s RMS

NEWARK, CA – April 19, 2022 – RMS®, a world-leading risk modeling and solutions company, today announced that Michael Steel has been appointed to its top leadership position of General Manager. Steel succeeds Karen White, who has recently stepped down following the completion of the Moody’s acquisition.

With more than 30 years of experience in risk and capital management gained in the insurance industry, Steel most recently served as Global Head of Business Development at RMS and has been at the company since 2016. Steel will work directly with Steve Tulenko, President of Moody’s Analytics, along with the Moody’s and RMS senior management teams to ensure RMS continues its mission and vision.

“I’m honored to have this opportunity at RMS, and excited to achieve our vision to ‘make every risk known’ to help our customers make better decisions and be more resilient,” said Steel. “Together with Moody’s, our focus is to deliver Moody’s broader set of data and analytics to the insurance sector, expand our core offerings beyond the insurance sector, and accelerate the development of global integrated risk capabilities to address the next generation of risk assessment.”

Prior to RMS, Steel served as the Group Chief Risk Officer at AXIS Capital, following a career in reinsurance broking, including 12 years at Benfield (later Aon Benfield and now Aon Reinsurance Solutions). In addition to his role with RMS, he serves as an Independent Non-Executive Director on the board of Allianz Re Dublin dac. Previously, Steel served as an Independent Non-Executive Director on the board of Berkshire Hathaway’s international business, as an Appointed Director on the Casualty Actuarial Society, and as Chairman of the Geneva Association’s CRO Network. He holds a bachelor’s degree with honors in statistics and mathematics from Brunel University.

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About Moody's RMS

Moody’s RMS shapes the world’s view of risk for insurers, reinsurers, financial services organizations, and the public sector, with Moody’s RMS models underlying the nearly $2 trillion USD Property & Casualty industry. Moody’s RMS empowers organizations to evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics.

Moody’s RMS helped pioneer the catastrophe risk industry, and continues to lead in innovation, unmatched science, technology, and 300+ catastrophe risk models. Organizations can address the risks of tomorrow with the Intelligent Risk Platform™, the only open cloud with collaborative applications and unified analytics that can power risk management excellence.

Further supporting the industry’s transition to modern risk management, in 2020, Moody’s RMS spearheaded the Risk Data Open Standard (RDOS), a modern, open-standard data schema designed to be an extensible and flexible asset within modeling/analysis systems.

In 2021, Moody’s Corporation acquired Risk Management Solutions, Inc. and as part of Moody’s Analytics, Moody’s RMS serves the P&C insurance industry as the leading provider of expertise, science, and technology in integrated risk. A trusted solutions partner, Moody’s RMS enables 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.

© 2023 Risk Management Solutions, Inc. and/or its affiliates and licensors (“Moody’s RMS”). All rights reserved. All names, logos, and icons identifying Moody’s RMS and/or its products and services are trademarks of Risk Management Solutions, Inc. and/or its licensors or affiliates. Third-party trademarks referenced herein are the property of their respective owners.

RMS is a subsidiary of Moody’s Corporation (NYSE: MCO) and operates as part of the Moody’s Analytics business segment. Moody’s Analytics is operationally and legally separate from the Moody’s Investors Service credit rating agency.

Media Contacts

Matthew Longbottom

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

Haggie Partners

PR Lead, Americas
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