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Kamakura reports Swiss Re contract

12 July 2007  |  1977 views  |  0 Source: Kamakura Corporation

Kamakura Corporation announced today that Swiss Re, one of the world's leading reinsurance companies, has licensed Kamakura's KRIS default probability service.

The KRIS default probability service, which was launched in 2002, was the first commercial default probability service to include modern "reduced form" default probabilities in addition to the older Merton approach to default probability estimation.

"Swiss Re through its Credit Solutions division has been an active participant in sophisticated credit instruments for many years," said Davide Crippa, head of Portfolio Management and Analytics of Credit Solutions. "We share Kamakura's vision that a multiple models approach to credit analysis offers additional perspective on risk and facilitates stress testing. As such, we believe that KRIS default probabilities will support us in further expanding our participation in selected credit markets."

"Kamakura admires the risk management analytics at Swiss Re and we are honored to have the opportunity to add Swiss Re as a KRIS client," said Warren Sherman, Kamakura President and Chief Operating Officer. "Given current conditions in the credit markets, we believe it is critical to achieve best practice in credit analytics while avoiding reliance on market participants with an inherent conflict of interest. The partnership between Swiss Re and Kamakura achieves that objective, and we look forward to advice and suggestions from Swiss Re for many years in the future."

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