NEWARK, CA – 21 February 2023 – Ocean Reinsurance has signed a new agreement with Moody’s RMS®, the leading global catastrophe risk modeling and solutions company, to help develop and expand client opportunities through the use of the Risk Modeler™ and ExposureIQ™ applications, both running on the Moody’s RMS Intelligent Risk Platform™.
Carlos Chamorro, CEO, 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 Managing Director) of Ocean Re, said: “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.”
Designed using our deep knowledge and understanding of customer needs, and leveraging the latest technological innovations, the Risk Modeler application easily 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 organization-wide risk exposure management and event response faster and more accurate for better-informed decision-making.
Michael Richitelli, Global Head of Sales, Moody’s RMS added: “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.”
ENDS
About Ocean Re
Ocean International Reinsurance Company Limited (Ocean Re), since 2014 has obtained and held an AM Best Financial Strength Rating of “A-” and a Long-Term Issuer Credit Rating of “a-” with a stable outlook. Ocean Re is a multi-line P&C and L&H carrier that currently serves over 137 countries and with a physical presence in five countries. It has achieved a GWP of US$414 million by the end of 2022 with a combined ratio of 88.2%.
About Moody’s
In a world shaped by increasingly interconnected risks, Moody’s data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities.
Moody’s shapes the world’s view of risk for insurers, reinsurers, financial services organizations, and the public sector, with Moody’s RMS models underlying the nearly US$2 trillion Property & Casualty industry. We empower organizations to evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics.
With a rich history of experience in global markets and a diverse workforce in more than 40 countries, Moody’s gives customers the comprehensive perspective needed to act with confidence and thrive.
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