Willis Re launches a new flood insurance model for the MENA region

The broker Willis Re has developed a flood insurance model for MENA region. The model quantifies flood risk using a disaster risk model.

The solution is currently in use in Morocco, the United Arab Emirates and Saudi Arabia. It will be deployed in Oman, Qatar and Egypt in the Q3 and Q4 of 2021.

The model enables the structuring and pricing of reinsurance treaties as well as the valuation and capital adequacy in accordance with regulatory solvency requirements.