Home |
News & Media
Caisse Centrale De Rèassurance Selects EQECAT’s WORLDCATenterprise™ Software For Worldwide Catastrophe Modeling
February 28, 2006
Oakland, California
EQECAT, Inc., the leading authority on extreme-risk modeling, said today Caisse Centrale de Rèassurance (CCR), one of the world's leading reinsurers, has chosen EQECAT’s WORLDCATenterprise™ catastrophe management software to enhance their assessment of catastrophe risks in several European countries and Japan.
Financial terms of the agreement were not disclosed.
“We are delighted CCR has chosen to incorporate EQECAT’s WORLDCATenterprise™ platform into their risk assessment process,” said Rick Clinton, president of EQECAT. “CCR has, like others, re-evaluated catastrophe models after the last two turbulent years of losses. We are delighted CCR has selected EQECAT software to manage their global exposure in European countries and Japan,” he said.
“CCR sees licensing EQECAT’s modeling technology as an important tool to help them manage their global catastrophic risk in European countries and Japan,” said Thierry Masquelier, chairman and chief executive officer of CCR. “EQECAT provides a platform capable of supporting catastrophe analysis for Japan andthe European nations, in which CCR has exposures,” he said.
About Caisse Centrale de Rèassurance
Caisse Centrale de Rèassurance is one of the world's leading reinsurers with a premium income of more than a 1,3 bn euros, it has enjoyed an “AAA” rating by Standard and Poor’s since 2001.
The company’s Head Office is in Paris, where it employs 200 staff. However, because of the worldwide scope of its activity, CCR also has branches in Canada and Lebanon, as well as consultants in Germany.
Like other players in the market, CCR offers reinsurance in the following - fire, accident, miscellaneous, marine, aviation, space and life. These represent 40% of the company’s premium income.
However, CCR distinguishes itself from its competitors by offering unlimited coverage for specific risks, such as natural disasters in France and war risks, with a State guarantee. This State-guaranteed business constitutes 60% of the company’s income.
EQECAT Serves Global Clients Through Extensive WORLDCATenterprise™
Through its user-friendly, extreme-risk modeling software, WORLDCATenterprise™, EQECAT enables clients to assess and manage potential damage and loss from wind, earthquakes, flood, wildfire, and terrorism, among other perils. WORLDCATenterprise™ includes 167 natural hazard software models for 88 countries spanning six continents.
EQECAT, and its parent ABS Consulting, serve the global property and casualty insurance industry, major multinational corporations and financial institutions. EQECAT is known as the technical leader and innovator in the development of analysis tools and methodologies to quantify insurers’ and major corporations’ exposure to natural and man-made catastrophic risk.
EQECAT was founded in 1994 and is headquartered in Oakland, California. For additional information, please log on to www.absconsulting.com, or www.EQECAT.com.
For more information, contact:
Thomas Larsen
EQECAT, Inc.
1-510-817-3100 | tlarsen@absconsulting.com
Eric R. Samansky
The Samansky Group
1-516-319-0858 | eric@samanskygroup.com
|
