Elementum Advisors Leverages AIR’s Catastrophe Modeling Systems to Manage Its Portfolio of Insurance-Linked Securities

BOSTON, February 3, 2010 - AIR Worldwide Corporation (AIR) today announced that Elementum Advisors LLC, a Chicago-based alternative investment manager focused on collateralized reinsurance investments and insurance-linked securities (ILS), has licensed CATRADER®, the industry standard application for analyzing catastrophe reinsurance and insurance-linked securities. Elementum will use CATRADER and ALERTTM, AIR’s online real-time loss estimation service, to assess and manage the risks associated with its portfolio of catastrophe bonds and other insurance-linked securities.

“We selected AIR’s CATRADER because it enables us to quickly evaluate new investments and fine-tune our portfolio to obtain a more desirable risk/return profile,” said Mike France, chief operating officer, Elementum Advisors. “CATRADER also supports a wide range of ILS transaction types, which is very important for our strategies.”

CATRADER enables investors to assess the risk associated with a wide range of financial instruments, including cat bonds, industry loss warranties (ILWs), sidecars, and collateralized reinsurance investments. CATRADER is the tool of choice for investment managers specializing in insurance-linked securities.

“AIR’s catastrophe bond remodeling capabilities help us to analyze transactions as they are announced,” continued France. “As a result, we can more accurately assess the risk and make more informed investment decisions in many cases.”

ALERTTM (AIR Loss Estimates in Real Time) is an online service providing up-to-date information and loss estimates for major natural catastrophes worldwide. As the market for catastrophe bonds continues to mature and investors have become more sophisticated, AIR’s ALERT has become a key resource for companies trading these instruments in the secondary market.

“AIR provides investors like Elementum with a comprehensive and unified platform to manage their entire portfolio of ILS,” said David Lalonde, senior vice president, AIR Worldwide. “CATRADER gives investors the flexibility they need to accurately model catastrophe bonds with parametric, modeled loss, hybrid, or indemnity triggers, as well as ILWs and collateralized reinsurance investments, providing a more effective assessment of the portfolio’s risk profile.”

About AIR Worldwide
AIR Worldwide (AIR) is the scientific leader and most respected provider of risk modeling software and consulting services. AIR founded the catastrophe modeling industry in 1987 and today models the risk from natural catastrophes and terrorism in more than 50 countries. More than 400 insurance, reinsurance, financial, corporate and government clients rely on AIR software and services for catastrophe risk management, insurance-linked securities, detailed site-specific wind and seismic engineering analyses, agricultural risk management, and property replacement cost valuation. AIR is a member of the ISO family of companies and is headquartered in Boston with additional offices in North America, Europe and Asia. For more information, please visit www.air-worldwide.com.

About Elementum Advisors LLC
Elementum Advisors is an independent alternative investment manager specializing in reinsurance and risk-linked securities. Its principals possess a lengthy track record managing portfolios across a range of objectives – from liquid cat bond to high-alpha collateralized reinsurance investment strategies. Elementum’s professionals have nearly 50 years of collective experience in capital markets reinsurance and deep access to long-term established relationships within the industry. The team possesses investment expertise across the full spectrum of risk transfer products including cat bonds, collateralized reinsurance investments, exchange-traded and OTC catastrophe derivatives, Industry Loss Warranty (ILW) contracts and other structured (re)insurance portfolio investments.

Release: Immediate

Contact:
Kevin Long
AIR Worldwide
617-267-6645
rgrater@air-worldwide.com