15 January 2015 News

RMS supports China Re’s expansion into Lloyd’s

Catastrophe risk management firm RMS has expanded its partnership with China Re to support the reinsurer’s investment into Lloyd’s.

Through the agreement, RMS models will support China Re’s Syndicate 2088, the first Chinese direct investment into Lloyd’s, enabling China Re to use robust in-house model coverage to write open market business in Europe for the first time.

“China Re has used RMS modeling to support our international business development since 2012 and we are pleased to use RMS technology to improve our business, bringing our relationship with RMS from Beijing to London,” said Dr. Zuo Huiqiang, head of actuary and risk management in China Re “China Re is committed to Lloyd’s, both in business locations and model convergence, as well as to our objective of building Syndicate 2088 and becoming a major player in the international reinsurance market.”

Wen Chen, director, Asia Pacific at RMS, added: “We are delighted with China Re’s decision to use RMS as the sole risk model provider supporting their international business development as they move to London. The agreement is a milestone not only for RMS’s expansion in China, but also for a more diversified and internationalized Lloyd’s.”

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