RMS partners with MSIG Mingtai
Catastrophe risk management firm RMS has partnered with MSIG Mingtai Insurance to deepen its understanding of typhoon risk in Taiwan.
RMS plans to further develop a probabilistic typhoon model and provide Mingtai with an improved understanding of typhoon risk for effective risk management. Mingtain provides 50 years of experience in the Taiwan domestic insurance market.
The catastrophe risk manager is currently developing a Taiwan typhoon model which will form part of the Asia typhoon model, which is being built on a basin-wide event set.
Y Ku, senior executive vice president of MSIG Mingtai, said: “A better understanding and modelling of natural hazards, achieved through collaboration, will allow for more effective risk management. We are pleased to mutually develop a deeper understanding of Taiwan typhoon risk through this technical collaboration.”
Yasunori Araga, president, RMS Japan, said: “RMS has a history of collaboration with industry partners, including reinsurers, insurers and brokers in the United States, Europe and Asia. We are pleased to extend our technical collaboration in Asia in Taiwan through our partnership with Mingtai.”
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