BOSTON, July 6, 2015 — Catastrophe modeling firm AIR Worldwide (AIR) today announced that Nephila Holdings Limited (“Nephila”), a leading investment management platform focused on natural catastrophe and weather risk, has licensed Touchstone® to meet its need for deeper and more detailed analytics. AIR Worldwide is a Verisk Analytics (Nasdaq:VRSK) business.
“We’re expanding our long-standing relationship with AIR in light of their proven ability to deliver scientifically advanced catastrophe models combined with cutting-edge technology — a platform that supports our growing operations,” said Simon Storey, chief technology officer, Nephila. “The instruments in which we invest have evolved and broadened over time, along with investors’ risk appetite. We currently manage multiple investment vehicles for sophisticated institutional investors, and Touchstone allows us to perform detailed loss analysis of those exposures.”
Through Touchstone, granular policy-level exposures can be analyzed to provide richer, more robust insight into the drivers of risk. In addition to catastrophe loss analytics, Nephila will license the Touchstone platform’s data quality tools, hazard analytics, and geospatial module, which offers rich GIS visualizations of hazard, exposure, and loss.
“We’re pleased that Nephila is expanding their relationship with AIR as they continue to perform more detailed analytics globally,” said Bill Churney, chief operating officer, AIR Worldwide. “We offer companies like Nephila robust tools and the latest data to assess the risk associated with the widest range of financial instruments more easily and accurately. We look forward to continuing to collaborate with them by delivering the most comprehensive catastrophe modeling solution on the market.”
Nephila Capital Ltd. is a leading investment manager specializing in reinsurance risk. Nephila offers a broad range of investment products focusing on instruments such as insurance-linked securities, catastrophe bonds, and weather derivatives.
Nephila has assets under management of approximately $9 billion as of January 1, 2015, and has been managing institutional assets in this space since it was founded in 1998. The firm has over 80 employees based in Bermuda, San Francisco, Nashville, and London. Further information can be found at www.nephila.com.
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 90 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, and agricultural risk management. AIR Worldwide, a Verisk Analytics (Nasdaq:VRSK) business, is headquartered in Boston with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.