RMS launches new office in Sydney, Australia

Risk modelling firm RMS has opened a new office in Sydney, Australia. The company said the move is part of its drive to support clients’ expansion in the Australian and New Zealand markets.

The focus of the new office will be to help re/insurers with the adoption of new models and to advise the region’s superannuation funds as they invest in insurance-linked securities (ILS).

The office’s managing director is Pierre Wiart, who will be responsible for client relationships and market development in Australia and New Zealand.

Wiart said: “RMS has first-rate modelling capability for this region. 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.

“My task is to make clients’ adoption seamless and help them underwrite the best book of business, based upon best-in-class models.”

Wiart started his career in catastrophe risk modelling in 2000 at RMS, before working for Aon, White Mountains Re in Bermuda, SCOR, QIC and IAG Re. His experience includes managing funds and providing consultancy in the ILS sector.

He will also work with investors in Australia and New Zealand who are looking to diversify into catastrophe risk, further strengthening RMS’s capital markets specialism in Asia-Pacific.

Paul Burgess, RMS regional vice president, client development in Asia-Pacific, added: “It’s great to have Pierre back on board at RMS. Over the past decade he has gained experience across the international insurance industry, as well as with alternative capital and ILS.

“This insight will help RMS better support clients in the Australian and New Zealand markets, not only in property lines but in emerging classes of risk such as cyber.”

The Sydney office complements other offices RMS has in the Asia-Pacific region including in Delhi, Beijing, Tokyo and Singapore.

Get the latest re/insurance news sent to your inbox every day -  Sign up to our free email newsletters

Other stories from the SIRC Day Two newsletter

Reinsurance growth does not reflect the evolution of the exposures in Asia

Storm losses demonstrate importance of discipline in underwriting: Lloyd’s

Indiscriminate rate hikes will open door to new entrants

AGCS forced to mull onshore branches

Alternative thinking: the historic rise of ILS

Markel targets niche products shielded from competition

RFIB launches Singapore unit to serve as hub for Asia

Insurers will seek to pass on rate hikes

UK may need to replicate Singapore’s regulatory approach

China & India ready for onshore growth

Interview: Philip Chung S&P Global Ratings

Delegates at SIRC to firm relationships

$1m insurtech has Asia in its sights

Protectionist measures harm jurisdictions

Growth opportunity in long-tail business

Japan quake model tackles earthquake occurrence probability

Digital transformation a top concern of insurers

Don't miss our insurtech email newsletter - sign up today