London — Munich Re is extending its risk research and quantification capabilities through a cooperation with modeling firm Risk Management Solutions (RMS), the companies report. Munich Re and RMS says they will embark on research in new and emerging areas of risk modeling and, by that, expand the frontiers of risk modelablity and insurability.

“In view of the increasing complexity of risks, it is indispensable, particularly for insurance companies, to have sophisticated risk management tools, systems and decision processes in place", says Torsten Jeworrek, a member of Munich Re’s board of management and CEO of the company’s global reinsurance business. “This initiative with RMS is part of our strategy to make use of a collaborative network to complement our insights with external knowledge, and translate these insights into intelligent risk management solutions. This will create value for our clients and shareholders and, thus, reinforce our leadership role of being a ‘think factory’ for the insurance industry.”

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