Risk Management Solutions (RMS) has purchased the Catalyst® U.S. earthquake, hurricane, and tornado models and related software from Benfield Blanch Inc. RMS will incorporate elements of the models into its RiskLink® product line.
The companies have also entered into a license agreement that provides the Benfield Group with access to RMS’ global suite of catastrophe models for use in its brokerage and advisory services worldwide. RMS models cover earthquake, hurricane, tornado, hail, and flood hazards in over 40 countries. RMS is a provider of products and services for catastrophe, weather, and enterprise risk management. More than 400 leading insurers, reinsurers, trading companies, and other financial institutions use RMS models to quantify, manage, and transfer risk.
RMS will maintain the Catalyst® catastrophe models through a transitional period as they are incorporated into the company’s next generation of U.S. modeling capabilities. To facilitate integration of the various models, RMS will be expanding its development team in Newark, Calif., to include members of the Catalyst development staff.
Catalyst users will have the option of converting to the RMS RiskLink® catastrophe modeling software when their licenses expire.
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