21 February 2023Analysis

Ocean Re signs new deal with RMS

Ocean Reinsurance has signed a new agreement with Moody’s RMS 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.

“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,” said Carlos Chamorro, chief executive of Ocean Re.

Guillermo Eslava, incoming chief executive 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.”

According to Ocean Re 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 analysed with far greater speed and accuracy.”