Boston-based AIR Worldwide announced that UIB Asia Reinsurance Brokers Pte Ltd, a subsidiary of UIB International/UIB Holdings UK Ltd, has licensed AIR’s catastrophe risk management systems.
“UIB is an independent, multilingual insurance and reinsurance broker headquartered within the London Market and at Lloyd’s,” said the bulletin. “UIB Asia will leverage AIR’s CATRADER® and CLASIC/2™ software applications to manage its clients’ catastrophe risk.”
UIB Asia’s CEO Bengt Johnsen commented: “AIR’s scientifically advanced catastrophe risk models will allow us to better assess our clients’ catastrophe risk. “In the constantly evolving insurance and reinsurance marketplace, we strive to obtain the broadest levels of coverage for our clients’ diverse risks. AIR’s advanced Asia-Pacific typhoon and earthquake models will help us achieve this goal by providing the best assessment of catastrophe risk to our growing client base in Asia.”
Dr. Praveen Sandri, managing director of AIR Worldwide India Private Limited, explained “As insurance markets continue to grow in Asia, so does the demand for catastrophe insurance. AIR’s Pacific basin wide typhoon models and advanced earthquake models will enable UIB Asia to deliver effective risk solutions to its clients.”
Johnsen added: “Aviation, construction, energy, and treaty reinsurance are core businesses for UIB, and we believe these are also strong growth areas throughout Asia. UIB Asia’s treaty, actuarial, and specialist teams are looking forward to collaborating with AIR to enhance the services we provide to our clients.”
Source: AIR Worldwide
Topics Catastrophe Agencies Reinsurance
Was this article valuable?
Here are more articles you may enjoy.
The Top 15 U.S. Metros with High Exposure to Wildfire Risk 
Fannie and Freddie Hit Pause on Replacement-Value Requirements for Home Insurance 
Everton FC Buyer Accused of Fraud, Double-Pledging Assets in Lawsuit 
Pfizer Agrees to Settle More Than 10,000 Zantac Cancer Lawsuits 
