Aeolus and RED announce research collaboration to assess ...

Aeolus Capital Management and RED – Risk Engineering + Development (RED) have announced a collaborative research initiative focused on assessing earthquake risk.

This study will be led by Pete Dailey, Head of Research at Aeolus, renowned for his expertise in catastrophe model development and analytics.

Joining as the lead collaborator is Paolo Bazzurro, the former Head of AIR Worldwide’s earthquake modelling team and a globally-recognised expert in earthquake risk modelling.

This quantitative study will examine how a crucial aspect of earthquake risk is depicted in existing CAT models.

Expressing his enthusiasm for this research collaboration, Dailey states, “Aeolus Research is excited to launch this partnership with Prof. Bazzurro and the RED team based in Pavia, Italy.”

He continues, “Earthquakes naturally occur in sequences, some persisting for weeks, months or even years. While catastrophe models have considered temporal clustering of earthquakes explicitly in their models for regions like the New Madrid zone in the central US, recent occurrences of sequences in New Zealand, Italy and Turkey have provided additional data for the scientific community to analyse.”

“The partnership with the RED team will ensure our proprietary risk models continue to account for earthquake risk in a complete and holistic way,” Dailey concludes.

Bazzurro adds, “This is an important study into the effects of including sequences into earthquake risk estimates in California. We look forward to our partnership with Aeolus to help improve our understanding of earthquake risk.”