BOSTON, November 15, 2010 — AIR Worldwide (AIR) today 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. UIB Asia will leverage AIR’s CATRADER® and CLASIC/2TM software applications to manage its clients’ catastrophe risk.
“AIR’s scientifically advanced catastrophe risk models will allow us to better assess our clients’ catastrophe risk,” said Bengt Johnsen, chief executive officer, UIB Asia. “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.”
“As insurance markets continue to grow in Asia, so does the demand for catastrophe insurance,” commented Dr. Praveen Sandri, managing director of AIR Worldwide India Private Limited. “AIR’s Pacific basinwide typhoon models and advanced earthquake models will enable UIB Asia to deliver effective risk solutions to its clients.”
“Aviation, construction, energy, and treaty reinsurance are core businesses for UIB, and we believe these are also strong growth areas throughout Asia,” continued Johnsen. “UIB Asia’s treaty, actuarial, and specialist teams are looking forward to collaborating with AIR to enhance the services we provide to our clients.”
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 Verisk Insurance Solutions group at Verisk Analytics and is headquartered in Boston with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.