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Barbican Holdings Group Selects AIR Catastrophe Modeling Systems to Evaluate and Manage Global Catastrophe Risk
BOSTON & LONDON-(Business Wire)-July 2, 2008 - AIR Worldwide Corporation (AIR) today announced that Barbican Insurance Group has licensed AIR's catastrophe risk management systems. Barbican trades as Lloyd's Syndicate 1955 ("Barbican") and writes a broad range of Property Direct & Facultative, Casualty Treaty, Marine Treaty and UK regional business including property. Barbican will use AIR's software to assist in the management of its global catastrophe risk.
"AIR's catastrophe risk management system helps us to control and efficiently monitor our worldwide catastrophe exposures," said Conor Finn, Divisional Manager at Barbican. "Being a start-up, we needed to build our catastrophe modelling operation very quickly. AIR's approach has helped us to do that."
"We are delighted that Barbican chose AIR as their sole provider of catastrophe risk management software," commented Milan Simic, Managing Director of AIR Worldwide Ltd. "This is yet another confirmation that AIR is increasingly regarded as the first choice provider of catastrophe modelling services."
Yen Chin, Business Development Executive at AIR Worldwide Ltd. added, "At AIR's London operation we have the local expertise and experienced staff to support Barbican with a range of professional services, from policy and schedule data processing to exposure management and risk modelling, while they build their team. This is vital for start-up companies such as Barbican who need to respond to market opportunities at short notice."
About Barbican Holdings Group
Barbican Syndicate 1955 has an initial underwriting capacity of GBP 75 million and underwrites a broad-based portfolio with a high degree of diversification, including property, casualty reinsurance, treaty business and other specialist lines. -0- *T Key people and contacts: David Reeves Chief Executive Officer Mark Harrington Chief Underwriting Officer Louis Tucker Group Financial Controller Conor Finn Divisional Manager, Property Andy Caldwell Divisional Manager, International Casualty Treaty John Pilkington Divisional Manger, North American Casualty Treaty Ian Jones Divisional Manager, UK Harvey Jacobs Underwriting Manager, Marine Reinsurance Registered address: 1 Cornhill London EC3V 3ND Telephone No: 020 3178 6764 *T
About AIR Worldwide Corporation
AIR Worldwide Corporation (AIR) is the scientific leader and most respected provider of risk modeling software and consulting services. AIR founded the catastrophe modeling industry in 1987 and today models the risk from natural catastrophes and terrorism in more than 50 countries. More than 400 insurance, reinsurance, financial, corporate and government clients rely on AIR software and services for catastrophe risk management, insurance-linked securities, site-specific wind and seismic engineering analyses, and property replacement cost valuation. AIR is a member of the ISO family of companies and is headquartered in Boston with additional offices in North America, Europe and Asia. For more information, please visit www.air-worldwide.com.
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