Oak Reinsurance (OAK Re), a newly approved global reinsurer under Lloyd’s Syndicate 2843, has announced a partnership with Moody’s to integrate its Intelligent Risk Platform for underwriting operations beginning Jan. 1.
This collaboration will enable OAK Re to leverage Moody’s advanced risk applications, including Risk Modeler and ExposureIQ, to analyze catastrophe perils such as cyber threats, terrorism, and climate change impacts.
For its inaugural year, OAK Re has set a target of US$300 million in gross written premium (GWP), focusing on reinsurance products across property, cyber, terrorism, and innovative, transition-focused opportunities.
The partnership with Moody’s aligns with OAK Re’s strategy of using science and data-driven analytics to deliver targeted risk insights for clients across its lines of business. Moody’s open modeling framework, developed in collaboration with Nasdaq, offers OAK Re access to diverse risk perspectives through its scalable platform.
Cathal Carr (pictured above), chief executive officer at OAK Re, stated that Moody’s suite of cloud-based risk solutions and models supports the reinsurer’s underwriting strategy.
“Combined with our underwriting expertise, their extensive portfolio of respected models and analytical solutions will allow us to continually enhance and evolve our risk understanding,” Carr said. “The holistic nature of the Moody’s offering provides the flexibility and scalability to support our ambitions and facilitate growth over time.”
Daniel Flemington, managing director of insurance solutions at Moody’s, said the collaboration reflects a shared focus on sustainable and resilient underwriting practices.
“Similar to many ambitious, high-growth, innovative start-up businesses we work with, being able to quickly get up and running and access sophisticated risk modeling across a spectrum of perils, within the cloud-based IRP and its applications, and scale up, adopt new models and solutions as and when required, is ideal for businesses without the burden of legacy infrastructure,” Flemington said.
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The Moody’s Intelligent Risk Platform includes models covering a wide range of perils, from cyber and terrorism to climate change impacts.
The platform’s ability to integrate new models and solutions on demand positions OAK Re to adapt its operations as market conditions and client needs evolve.
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