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Cat models don’t properly reflect climate change: RenRe CEO O’Donnell

In comments made this afternoon during the second-quarter earnings call of Bermuda based reinsurance and third-party capital management specialist RenaissanceRe, the companies CEO Kevin O’Donnell said the catastrophe modelling vendors are failing to robustly capture the effects of climate change.

O’Donnell’s comments suggest a lack of confidence in the commercially available vendor catastrophe models at one of the largest underwriters of property catastrophe risk.

That could be a concern for model vendors, as typically if one underwriting ethos loses confidence, others could follow.


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