Aeolus Capital Working With RED on Earthquake Risk Data

The word from Aeolus Capital, who are working with RED on earthquake risk;

Aeolus Capital Management Ltd. (“Aeolus“) and RED – Risk Engineering + Development (“RED”) recently announced the launch of a research collaboration.

The earthquake-focused study, led by Dr. Pete Dailey, Head of Research at Aeolus and a renowned expert in catastrophe model development and analytics, will be a quantitative study looking at how a key aspect of earthquake risk is represented in currently available CAT models.

Dr. Dailey said, “Aeolus Research is excited to launch this partnership with Prof. Bazzurro and the RED team based in Pavia, Italy. Earthquakes naturally occur in sequences, some persisting for weeks, months or even years.  While catastrophe models have considered temporal clustering of earthquakes explicitly in their models for regions like the New Madrid zone in the central US, recent occurrences of sequences in New Zealand, Italy and Turkey have provided additional data for the scientific community to analyze. The partnership with the RED team will ensure our proprietary risk models continue to account for earthquake risk in a complete and holistic way.”

Lead collaborator Prof. Bazzurro is a globally-recognized expert in earthquake risk modeling, and the former Head of AIR Worldwide’s (now Verisk Analytics’) earthquake modeling team. Prof. Bazzurro added, “This is an important study into the effects of including sequences into earthquake risk estimates in California. We look forward to our partnership with Aeolus to help improve our understanding of earthquake risk.”