RMS opens Sydney office to bolster APAC client support
Risk modelling and analytics firm RMS has opened a new office in Sydney, Australia as part of its effort to grow its presence in the Australian and New Zealand markets and to increase its support for APAC-based clients.
The office will focus on insurers and reinsurers looking to adopt new models in light of a particularly active year for natural catastrophes, including Cyclone Debbie which hit the northeastern coast of Australia back in March.
It will also look to provide support for the growing interest in the insurance-linked securities (ILS) market from investors looking to diversify their portfolios via catastrophe risk, and to support efforts to close the protection gap in the region around catastrophe exposure.
The office will be led by managing director Pierre Wart, who has returned to RMS after spending the last few years at various brokers, reinsurers and an ILS consultancy, and will be responsible for client relationships and market development in Australia and New Zealand.
“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,” said Dr Wiart. “My task is to make clients’ adoption seamless and help them underwrite the best book of business, based upon best-in-class models.”
The Sydney office opening expands RMS’s presence in the region – adding to its existing offices in Delhi, Beijing, Tokyo and Singapore. It also plans to release updates to its earthquake models in Taiwan, Japan and India, and to introduce new models for typhoon risk in the Philippines and earthquake risk in South Korea.
