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Malaysian Re licenses AIR Worldwide's platform to manage new risks
Last update: 07/05/2018

President and chief executive officer of Malaysian Re, Zainudin Ishak

KUALA LUMPUR, May 7 (Bernama) --†Malaysian Reinsurance Berhad (Malaysian Re), a wholly- owned subsidiary of MNRB† Holdings Berhad (MNRB) today announced it has licensed AIR Worldwide's (AIR) catastrophe risk modelling platform for portfolio management and† managing new risks.

Malaysian Re is deploying AIR's catastrophe modelling solution to support its reinsurance operations for a broad range of risk management solutions,†including risk pricing and portfolio management and as a tool to help expand into new markets and lines of business.

President and Chief Executive Officer of†Malaysian Re, Zainudin†Ishak†said: "As Malaysian Re continues to maintain its strong market presence in Asia, the Middle East and North Africa, we are also expanding into new markets."

"Partnering with AIR is our strategic move in line with Malaysian Re's ongoing Business Transformation 2020 Programme (T20) which was launched in April last year. The T20 programme is our† initiative towards achieving the company's vision of becoming the preferred reinsurer in the region."

"In doing so, we need to enhance ourselves with a modern and advanced risk management software that can assist us to better quantify, analyse and manage our exposure to risks. We will leverage AIR's solutions to help us meet the expanding needs of our customers and offer enhanced value added services."

Meanwhile†director of business development for†Southeast Asia at AIR, Yen Chin said, "We're pleased to be working side-by-side with Malaysian Re, the largest national reinsurer (by asset) in the Southeast Asian region."

"As part of this collaboration, we are able to provide Malaysian Re with the combined power of our risk management software platform, our advanced models, and our market-leading customer support team to price and manage the expansion of its business. We look forward to the positive impact that will yield through this strategic collaboration."

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