PEMBROKE, Bermuda, September 6, 2016 — PartnerRe today announced an exciting two-pronged update to the functionality of PartnerResearch, its award-winning, free iPad® application for viewing extreme storm events.
New ENSO tagging functionality is a valuable reference for considering the potential impact of forecasted ENSO conditions on a property risk portfolio. The App identifies whether tropical cyclones occurred during an El Niño, La Niña or ENSO-neutral period, and storm events can be grouped by ENSO-state for the chosen location.
Also new in the App is the inclusion of 147 stochastic storms for the U.S., Europe and the Caribbean. These are 1-in-250-year extreme storm events that have not occurred within the historical experience period, but which are physically possible, opening the eye to new possibilities in catastrophe risk and PML events.
Commenting on the new functionalities, Greg Haft, Head of Global Catastrophe at PartnerRe, said: “Both the ENSO tagging feature and the addition of stochastic storms provide exciting new benefits for users of our App. ENSO tagging allows you to see that the majority of storms affecting Miami, for example, occurred in ENSO-neutral phases, and twice as many in La Niña as in El Niño phases. This is a thought-provoking observation when you consider the current forecast for the August 2016 – March 2017 period as an ENSO-neutral to weak La Niña phase. We have also enhanced the App by adding stochastic storms based on our proprietary catastrophe models – this is valuable knowledge that is not freely provided by anyone else in the market and which could help users to implement even more advanced PML calculations.”
Created for our clients and brokers, and based on PartnerRe’s advanced catastrophe proprietary modeling systems, the App provides instant and direct access to fully up-to-date windstorm hazard data for advanced risk assessment. The app allows the user to instantly view the path, extent and intensity of over 4,700 historical extreme storm events from Australia, Central Pacific, Easte Pacific, North West Pacific, North Atlantic and Europe, as well as 147 modeled stochastic storms for the U.S., Europe and the Caribbean. Now fully updated with 2015-2016 events and with linked ENSO tagging, all storms can be easily selected, compared and/or saved by name, location and year.
Discover the App by watching this short demo.
PartnerRe Ltd. is a leading global reinsurer that helps insurance companies reduce their earnings volatility, strengthen their capital and grow their businesses through reinsurance solutions. Risks are underwritten on a worldwide basis through PartnerRe’s three business segments: Property & Casualty, Specialty Lines and Life & Health. For the year ended December 31, 2015, total revenues were $5.4 billion. At June 30, 2016, total assets were $22.4 billion, total capital was $7.8 billion and total shareholders’ equity attributable to PartnerRe was $7.0 billion. PartnerRe enjoys strong financial strength ratings as follows: A.M. Best A / Moody’s A1 / Standard & Poor’s A+ / Fitch A+.
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Media contact: Natalia Vayner-Heyraud, Tel. + 33 01 44 01 37 31