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Insurance Solutions

Formerly Moody’s RMS

LONDON – July 26, 2023 – Korean Re and Moody’s RMS, the leading global catastrophe risk modeling and solutions company, has announced a new agreement to license Moody’s RMS Europe Inland Flood HD Models and Europe Severe Convective Storm (SCS) HD Models using the Risk Modeler™ application, plus the Europe Windstorm Model and earthquake models for Europe, Korea, China, Taiwan, and Israel.

As Korean Re continues to grow both domestically and internationally, this agreement enhances Korean Re’s risk analysis capabilities to help increase the support it can provide to clients with global risk portfolios.

Commenting on the announcement, Korean Re said: “Korean Re is the country’s leading reinsurer and a significant reinsurer across Asia, with a total of 12 global offices including four subsidiaries, four branches, and four liaison offices. Korean Re not only deals with the more traditional lines of reinsurance, including property, engineering, marine, casualty, motor, life, and health but also offers non-traditional reinsurance solutions.” 

“Korean Re started operations in 1963, and 2023 marks the sixtieth anniversary of the business. After six successful decades, we begin a new chapter in our corporate history to challenge ourselves and change the world by constantly seeking internal innovation in a manner that increases our positive impact on the world around us.” 

Dr. Chun Baek, the head of Catastrophe Analytics at Korean Re, commented: “It is expected that providing wider insights into risk analysis and decision making against recent changes in natural catastrophe will be available by working with Moody's RMS models.”

Andrew Hare, Managing Director, Moody’s RMS said: “Korea is an exciting and important country market for us, and we are delighted to be working with Korean Re as they continue to grow and enhance the services and support that they can offer for all their clients. As the nature and interconnectivity of risk have grown increasingly complex, it is important that companies can utilize leading science and technology to better understand and decode their risks and portfolios.”


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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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