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Gallagher Re Signs Licensing Agreement For Use Of EQECAT’s WORLDCATenterprise™ Modeling Capabilities
March 9, 2006
Oakland, California
EQECAT, Inc., the leading authority on extreme-risk modeling, said today Gallagher Re, a leading reinsurance intermediary, has signed a licensing agreement to renew use of EQECAT’s USWind, USQuake and US WinterStorm models, part of the WORLDCATenterprise™ catastrophe management software suite, to better manage client portfolio exposures to these perils.
Financial terms of the agreement were not disclosed.
“We are confident EQECAT’s superior risk modeling platform will continue to provide Gallagher Re with the best tools available to assist them in better assessing client exposures,” said Rick Clinton, EQECAT President.
“Catastrophe models are one of the essential tools we must use when evaluating the risk within a portfolio whether for underwriting, risk and reinsurance assessment or capital purposes,” commented Gillian James, Gallagher Re Chief Actuary. “EQECAT’s software is an important addition to our peril modeling capabilities, enhancing our ability to construct a comprehensive picture of clients’ exposures to different natural perils.”
About Gallagher Re
Gallagher Re offers reinsurance brokerage and risk advisory services to a global client base which includes insurance and reinsurance companies and other similar entities such as Captives and Protected Cell Companies. It provides a range of Property, Casualty and Life, Accident and Health expertise, through Treaty, Program and Facultative reinsurance services. Analytical capabilities, such as peril and natural hazard modeling, Actuarial services and Dynamic Financial Analysis (DFA) are an intrinsic part of our proposition.
Gallagher Re is a wholly-owned subsidiary of Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm headquartered in Itasca, Illinois. Gallagher is traded on the New York Stock Exchange under the symbol AJG.
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.
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