MSIG Mingtai will use the Taiwan earthquake and typhoon risk models of Moody’s RMS to improve its analytics. Credit: SUNG YOON JO / Shutterstock.com.

Mitsui Sumitomo Insurance Group subsidiary MSIG Mingtai has forged a partnership to leverage Moody’s RMS’ Taiwan earthquake and typhoon risk models. 

The Taiwan-based insurer will leverage the solution to bolster its earthquake and typhoon risk analytics to offer informed insurance services. 

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MSIG Mingtai chairman Yosuke Matsunobu and president Calvin Chen said: “In addition to fulfilling the required evaluation standards for natural catastrophe risks as part of the wider MSI Group, using Moody’s RMS models also helps us better manage catastrophe risk accumulation, and to securely deliver our insurance services with greater peace of mind. 

“We are committed to working closely with our clients, and by sharing valuable insights using high-quality exposure data, as a business MSIG Mingtai can help our clients to better mitigate earthquake and typhoon risks.”

Moody’s RMS managing director Andrew Hare stressed the role of inclusive assessment and insights in adopting informed risk decisions in the insurance sector. 

Hare said: “Moody’s RMS is dedicated to supporting our clients’ risk management requirements across all regions and geographies. 

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“Our unique combination of scientific expertise and advanced technology allows us to consistently provide the necessary information for effective risk management decisions.”

Founded in 1961, Mingtai was acquired by Mitsui Sumitomo Insurance Group in 2005 and was subsequently named MSIG Mingtai. 

In line with MSIG’s business policies, MSIG Mingtai is exploring various insurance products for the Taiwan region. 

In April this year, MSIG entered a general insurance distribution agreement with HSBC in Singapore.

Under the exclusive bancassurance alliance for 15 years, MSIG will offer various commercial and personal insurance services to HSBC clients in Singapore.