RMS opens Sydney office

RMS, the US-based global risk modelling and analytics firm, has opened a new office in Sydney, Australia, as part of its drive to support clients’ expansion in the Australian and New Zealand markets.

The focus 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 Dr. Pierre Wiart, who will be responsible for client relationships and market development in Australia and New Zealand.

Discussing RMS’ modelling capability for this region, Wiart said the company’s earthquake HD model for New Zealand has been “offering clients advanced insights into seismic risk since it was released last year.”

In addition, the cyclone and earthquake models for Australia will be updated next year, he noted. “My task is to make clients’ adoption seamless and help them underwrite the best book of business, based upon best-in-class models,” Wiart continued.