Exposure Management and Reinsurance

The Exposure Management and Reinsurance team, headed by Trevor Maynard, is responsible for understanding and managing market aggregation risks including those relating to reinsurance.

The team maintains and runs the Lloyd's Catastrophe Model (LCM), a core component of Lloyd's Internal Model. The team also runs the Realistic Disaster Scenario (RDS) process which provides Lloyd's with an informative view of aggregation risks within both the syndicates and the market. This includes the production of various regulatory information including Earthquake reserving for Canada.

The annual RDS process asks syndicates to estimate the losses they would incur from a variety of hypothetical disaster scenarios, using consistent and appropriate methods and assumptions.  It includes gathering comprehensive data from the market on business written, reinsurance arrantgements and detailed modelling of various risk events to detect aras of potential concern.  In the event of an actual catastrophe occurring, the information base and risk model facilitates timely estimates of Lloyd's exposure.

The team is split into four areas:

Outwards Reinsurance

Exposure management modelling

Emerging Risks

Exposure management oversight

 

Realistic disaster scenarios