Boston-based AIR releases new catastrophe models for Asia-Pacific

The new AIR earthquake models incorporate the seismological and tectonic information from more than 350 stations operated throughout the region. The new tropical cyclone models incorporate data on more than 1,250 historical tropical cyclones in the northwest Pacific Ocean between 1955 and 2000.

"The Asia-Pacific region is an extremely active part of the world in terms of both seismic and tropical cyclone activity," said Neil Wiseman, managing director of AIR in London. "As the primary and reinsurance markets in Asia continue to develop, managing catastrophe risk will become increasingly important.”

Indeed, the Asia-Pacific market is becoming an increasingly important area for the issuance of catastrophe bonds, and for weather derivatives. In its annual survey, the Weather Risk Management Association found that 445 weather derivatives contracts, worth $90 million, were traded in Asia last year – an increase of 304% and 100% respectively over the 2000/2001 figure. The Asian market has also been the beneficiary of weather risk innovation, market participants noted, with the launch of typhoon derivatives by Japan’s Tokio Marine & Fire Insurance earlier this year.

  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: