Aeolus Capital Management hires Dailey from RMS as Head of Research

Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) focused investment fund manager, has announced a new senior hire to its research division, with Dr. Peter Dailey set to joins as Head of Research.

Dailey was most recently at catastrophe risk modeller RMS where he held the position of Vice President of Model Development.

He will be based in the US, employed by Aeolus Services Corp., the US subsidiary of Aeolus Capital Management, and Dailey will report to Frank Fischer, Partner and Chief Analytics Officer.

Dailey is a recognised expert in climate and catastrophe model development and analytics, with over 20 years of industry experience in the field, a significant amount of which was devoted to creating solutions for the insurance and reinsurance market.

At RMS, Dailey managed the US Inland Flood Model product suite and also provided advisory across a number of areas of risk model innovation.

Dailey led RMS’ global event response teams and assisted in the development of a strategy around modeling climate change risk for the insurance and reinsurance sector.

Before he joined RMS, Dailey founded a consultancy that developed customised modeling solutions for insurance, reinsurance and capital markets clients, Urban Enterprise Partners Inc. (UEP). His work at UEP included the development of real-time hurricane forecasting tools.

Dailey also worked as a Vice President at catastrophe risk modeller AIR Worldwide, leading model development for key perils including North Atlantic hurricanes, North American winter storms, and European extra-tropical cyclones and also having responsibility for AIR’s real-time forecasting service.

Dailey is also well-published, being a contributor to peer-reviewed academic journals and global industry and academic conferences. He has focused his research on the predictive modeling of risk across all time scales, from real-time weather forecasting, to the implications for society of long-term climate change.

Fischer commented on the appointment, “We are delighted to welcome Dr. Dailey to Aeolus. His exceptional and unique experience as a leading researcher at each of the world’s most widely utilized catastrophe modeling firms is everything we’d hoped for in a candidate that will lead our new research division.

“His deep knowledge of catastrophe models and climate analytics will greatly enhance our technical ability to evaluate risk now and in the future. This appointment demonstrates Aeolus’ ability to attract market-leading talent and marks an exciting new chapter in our continued development.”

Aeolus Capital Management launching a new research division is indicative of the importance of having an in-house developed view of risk for insurance-linked securities (ILS) investment managers, as well as the importance of climate related risks to the ILS and collateralized reinsurance sector.