Sunday, April 22, 2018

AIR Worldwide partners with PICC Re

Aiming to better measure and manage a growing portfolio of the catastrophe risk insurance business, catastrophe modelling firm AIR Worldwide has entered into a collaboration agreement with PICC Re.

The Chinese reinsurance arm of PICC has already received regulatory approval from the China Insurance Regulatory Commission (CIRC).

At present, PICC Re is looking for strategic partners that could offer comprehensive assistance with pricing and management of its fast-growing reinsurance book of business.

Given AIR’s long-standing presence in China, as well as its extensive knowledge of the wider Asia-Pacific and global (re)insurance market, PICC Re has decided to collaborate with AIR on a long-term basis, said AIR in its statement.

According to AIR, its innovative catastrophe models are state-of-the-art and incorporate advances in science and engineering to provide a broad and realistic view of risk.

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