Barbados reinsurer Ocean Re ties up with Moody’s RMS
Barbados reinsurer Ocean International Reinsurance Company Limited (Ocean Re) has signed a new agreement with global catastrophe risk modeling firm Moody’s RMS.
The partnership aims to help Ocean Re develop and expand client opportunities in its core LatAm markets as well as across Asia and Europe through the use of the Risk Modeler and ExposureIQ applications, both running on the Moody’s RMS Intelligent Risk Platform.
The Risk Modeler application integrates with other on-premises applications as well as other cloud applications through open application programming interfaces (APIs) and export services, giving customers greater flexibility and choice.
ExposureIQ is an exposure management application that makes organisation-wide risk exposure management and event response faster and more accurate for better informed decision-making.
Carlos Chamorro, CEO of Ocean Re, said: “As we continue to grow in our core Latin American markets, as well as increase our presence across Asia and Europe, we felt it was important to enhance the support we can offer our clients by offering strategic views of risk combined with insights and analytics to strengthen accumulation and portfolio management.”
Guillermo Eslava, incoming CEO (and current MD) of Ocean Re, added: “RMS will be the right ally to continue Ocean Re’s profitable expansion of its operations by providing additional strength to our underwriting analysis in an evolving climate environment. Building additional underwriting tools will strengthen Ocean Re’s market position while supporting the development of innovative solutions for our clients.”
Michael Richitelli, global head of sales, Moody’s RMS, said: “With more than 16 years of experience, Ocean Re has a solid reputation across Latin America and beyond. Better insights from roll-ups across both insurance and reinsurance portfolios, combined with robust financial models mean that complex reinsurance structures can be viewed and analyzed with far greater speed and accuracy. We are delighted to be working with Ocean Re at this exciting time as they embark on their future business milestones.”
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