21 June 2022Reinsurance

Chedid Re to use JBA global flood model

Reinsurance broker Chedid Re has signed a five-year partnership with JBA Risk Management to use the flood specialist’s global flood model.

The new capability will enable Chedid Re to provide flood risk analytics and catastrophe modelling services to its clients across the Middle East, Africa, and South Asia.

Chedid Re, a company of Chedid Capital, and a Lloyd’s broker since 2015 has offices in Abidjan, Beirut, Casablanca, Dubai, Limassol, London, and Riyadh. Its 300 plus employees manage a diverse portfolio across facultative and treaty reinsurance. The broker will access the global flood model via its existing relationship with Nasdaq Risk Modelling for Catastrophes.

Nikki Pilgrim, technical director at JBA Risk Management commented: “At JBA we see increasing demand from clients across the world to be able to understand their exposure to flood risk in a drive to develop robust risk management and mitigation approaches. The Chedid Re partnership is another recognition of JBA’s global flood modelling capability that not only covers the model gaps but also allows adjustment and customisation to include client-relevant views of risk”

“This latest investment will ensure that our clients are able to fully understand their flood exposure, wherever they operate in the world, and to develop appropriate risk management and mitigation strategies,” said Elie Abi Rached, chief executive of Chedid Re in the Kingdom of Saudi Arabia.