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Catlin Group signs multi-year license for Conning GEMS Scenario Master

Catlin Group, a Bermuda-based property/casualty insurer and reinsurer, has signed a multi-year license for Conning's GEMS Scenario Master.

Conning said GEMS Scenario Master is a general purpose Economic Scenario Generator that enables users to simulate future states of the global economy and financial markets.

Catlin Group will use GEMS Scenario Master to meet Solvency II requirements, as well as for economic capital modeling, added Conning.

Catlin Group head of market risk Eric Thorlacius said they chose Conning because we wanted a comprehensive solution that was proven from both a technology and service level perspective. They were particularly attracted to the GEMS system and service by the robustness of its models and parameterization, the standard of validation and the commitment to supporting them with Solvency II.

Conning managing director Stephen Sonlin said when evaluating risk management solutions, Catlin Group required the flexibility to balance a technical model with one that was cost effective. GEMS offers both.