AIR Worldwide Provides Risk Modeling for More than $25 Billion in Total Catastrophe Bond Issuance
(Thomson Reuters ONE) -
For Immediate Release:
AIR Worldwide Provides Risk Modeling for More than $25 Billion in Total
Catastrophe Bond Issuance
MONTE CARLO, Monaco & BOSTON, Sept. 9, 2013 - AIR Worldwide (AIR) today
announced it has provided risk modeling and analytical services for more than
$25 billion in total catastrophe bond issuance, encompassing more than 115
transactions since the market's inception in 1996. Since the start of 2009, AIR
has modeled more than $15 billion in catastrophe bond issuance, including 17 of
the 22 property-based bonds issued to date in 2013. AIR's strong presence in the
catastrophe bond space this year follows an equally active 2012, when AIR was
selected as the modeling agent for 24 out of 25 property catastrophe bond
issuances.
"This significant milestone is marked by the September closing of the Nakama Re
Ltd. catastrophe bond issuance, which provides $300 million of earthquake cover
for Zenkyoren in the sponsor's first ever indemnity-triggered catastrophe bond,"
said Rob Newbold, senior vice president at AIR Worldwide. "By leveraging our
vast experience working with all types of structures covering a wide variety of
perils and all regions of the world, AIR continues to be the modeler of choice
for companies pursuing securitization options."
AIR has been the modeling and calculation agent for many landmark securitization
transactions, including:
* the groundbreaking MultiCat Mexico 2009 Ltd., which represented a
partnership between the World Bank and Mexico to help manage catastrophe
risk from multiple perils;
* the "Atlas V" transaction, which was the first catastrophe bond issued after
the 2008 credit crisis and one that used a hybrid trigger combining state-
level PCS(® )industry loss estimates and AIR modeled losses by county;
* the first catastrophe bond that used the innovative Verisk Catastrophe
Index(®) as the trigger mechanism; and
* 16 consecutive years supporting the Residential Reinsurance Ltd. Series
sponsored by USAA.
In April 2009, AIR was the first risk modeling firm to have modeled more than
$10 billion in catastrophe bond limit, a figure that included the first ever
catastrophe bond. Since reaching that milestone, companies have continued to
look to AIR as the market leader in providing the risk assessment for their
securitizations. "As the catastrophe bond industry has grown, so has the need
for a trusted ally who can provide sophisticated analytics on a global scale,"
said David Lalonde, FCAS, FCIA, MAAA, senior vice president at AIR Worldwide.
"AIR is pleased to offer the modeling services necessary to help organizations
diversify their risk transfer strategies."
In addition to providing risk modeling services for catastrophe bond issuances,
AIR's CATRADER(®) is the industry standard application for analyzing and
managing the risks associated with a portfolio of catastrophe bonds and other
insurance-linked securities. CATRADER enables ILS investors to make informed
investment decisions and better understand the impact of potential new
investments on their portfolios.
Many investment firms are using CATRADER to better assess and manage the risks
associated with a portfolio of catastrophe-linked investments, including most
recently Schroders, a global asset management company with £235.7 billion
(EUR275.0 billion/$357.5 billion) under management as of June 2013.
"Diversification is an area of focus for us, and AIR's CATRADER supports the
analytics we use for constructing an optimal portfolio that may include
catastrophe-linked instruments with a range of trigger types, including
indemnity, index, and notional portfolio-based triggers," said Daniel Ineichen,
portfolio manager insurance-linked securities at Schroders. "CATRADER also makes
it easy to quantify the correlations that exist across multiple catastrophe-
linked investments within a portfolio, which allows us to fine-tune our desired
risk/return profile."
About AIR Worldwide
AIR Worldwide (AIR) is the scientific leader and most respected provider of risk
modeling software and consulting services. AIR founded the catastrophe modeling
industry in 1987 and today models the risk from natural catastrophes and
terrorism in more than 90 countries. More than 400 insurance, reinsurance,
financial, corporate, and government clients rely on AIR software and services
for catastrophe risk management, insurance-linked securities, detailed site-
specific wind and seismic engineering analyses, and agricultural risk
management. AIR is a member of the Verisk Insurance Solutions group at Verisk
Analytics (Nasdaq:VRSK) and is headquartered in Boston with additional offices
in North America, Europe, and Asia. For more information, please visit www.air-
worldwide.com.
###
For more information, contact:
Kevin Long
AIR Worldwide
617-267-6645
klong(at)air-worldwide.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: AIR Worldwide via Thomson Reuters ONE
[HUG#1727800]
Unternehmensinformation / Kurzprofil:
Datum: 09.09.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 294426
Anzahl Zeichen: 6034
contact information:
Town:
Boston
Kategorie:
Business News
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