Hamilton, Bermuda.
Aeolus Capital Management Ltd. (“Aeolus”) and RED – Risk Engineering + Development (“RED”) today announced the launch of a research collaboration.
The earthquake-focused study, led by Dr. Pete Dailey, Head of Research at Aeolus and a renowned expert in catastrophe model development and analytics, will be a quantitative study looking at how a key aspect of earthquake risk is represented in currently available CAT models.
Dr. Dailey said, “Aeolus Research is excited to launch this partnership with Prof. Bazzurro and the RED team based in Pavia, Italy. Earthquakes naturally occur in sequences, some persisting for weeks, months or even years. While catastrophe models have considered temporal clustering of earthquakes explicitly in their models for regions like the New Madrid zone in the central US, recent occurrences of sequences in New Zealand, Italy and Turkey have provided additional data for the scientific community to analyze. The partnership with the RED team will ensure our proprietary risk models continue to account for earthquake risk in a complete and holistic way.”
Lead collaborator Prof. Bazzurro is a globally-recognized expert in earthquake risk modeling, and the former Head of AIR Worldwide’s (now Verisk Analytics’) earthquake modeling team. Prof. Bazzurro added, “This is an important study into the effects of including sequences into earthquake risk estimates in California. We look forward to our partnership with Aeolus to help improve our understanding of earthquake risk.”
About Aeolus Capital Management Ltd.
Aeolus Capital Management Ltd. is a specialist manager of reinsurance risk, focused on providing bespoke risk solutions to counterparties while seeking attractive, non-correlated returns for investors. Based in Bermuda, Aeolus is one of the world’s largest managers of natural catastrophe risk. Aeolus has over 15 years of industry leadership in providing innovative capital and risk solutions to investors, counterparties and brokers.
About RED
Natural disasters, such as earthquakes and floods, can have catastrophic consequences in susceptible areas. The accurate analysis of the levels of risk associated with such perils is therefore an activity of utmost pertinence. RED offers internationally-recognized experience in this field, with past risk consultancies at urban, regional and national scales, and for all sorts of applications.
Employing cutting edge science and technology, RED manages catastrophe loss estimation models that cover all major natural hazards, including drought, floods, excess rain, volcano, earthquakes, hurricanes, winter storms, tornadoes, and hailstorms. RED’s hydrologists, engineers and meteorologists have specific expertise in risk evaluation and disaster risk management for all of these perils, and especially for earthquake and flood.
Contacts:
Aeolus
Steve Wells, +1 441 405 4847