RMS Opening Bermuda Office

Risk Management Solutions (RMS) announced that it will open an office in Hamilton, Bermuda, making it the only catastrophe modeling firm with a local office in this major insurance and reinsurance center. The announcement was made at an RMS market seminar in Bermuda that focused on recent technical developments in catastrophe modeling relevant to the insurance and reinsurance industry.

During the past 12 years, Bermuda has grown rapidly as a business center and market for catastrophe risk transfer and reinsurance. New capital entering the insurance and reinsurance sectors has reportedly favored the island for its well-regulated business climate and growing technical expertise in catastrophe risk management and underwriting.

RMS involvement with Bermuda’s reinsurance industry dates back to 1993 when it first licensed its catastrophe modeling products to reinsurers on the island specializing in property catastrophe risk. Today, companies representing more than 95 percent of Bermuda’s catastrophe reinsurance capacity utilize RMS models.

Chernell Campbell will lead client service activities for RMS in
Bermuda. She joins RMS from XL Re where she was a catastrophe reinsurance analyst.

The new RMS office is located in the Columbia House at 32 Reid Street, Hamilton, and will officially open for business in mid to late September.