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Newark, Calif. – April 4, 2005 – Risk
Management Solutions (RMS), the world’s leading provider of products
and services for the management of catastrophe risk, today announced
that final values for its regional weather indexes show that
temperatures in the winter of 2004 were near the ten-year average in
all regions of the United States.
The RMS indexes track seasonal temperatures across ten regions of
the U.S. These indexes are calculated using daily temperature values
at stations that are commonly used for trading of weather
derivatives. For the winter period of November 2004 to March 2005,
the indexes show that none of the ten U.S. regions recorded a
seasonal average temperature that differed from the average of the
previous ten winters by more than 2 degrees Fahrenheit. Furthermore,
none of the U.S. regions recorded seasonal averages that ranked in
either the top or bottom 20% when compared to the past ten winters.
“For the second consecutive year, the U.S. has seen relatively
normal winter temperatures across the country,” said Steve Jewson,
director of RMS’ weather risk business. “Just like last winter,
while individual months may have been colder or warmer than normal,
when viewed as a whole, this winter season was not noteworthy in
terms of extreme values. For example, while the Mid-Atlantic region
experienced extremely cold weather in the second halves of December
and January, this abnormally cold weather was offset by unseasonably
warm weather during the second half of November and the first half
of January – yielding a winter that was just 0.18 degrees Fahrenheit
cooler than the 10-year average when viewed as a whole.”
The ten regions of the U.S. that RMS tracks are the Northeast,
Mid-Atlantic, Southeast, Midwest, Northern Plains, Plains, South
Central, Pacific Northwest, Mountain States, and Southwest. All
final index values and the record of their day-by-day progression
through the winter season can be viewed on www.climetrix.com, RMS’
weather risk web site. RMS will start tracking values of the
regional weather indexes for the May to September summer season on
May 2.
The Climetrix® application provides integrated Internet-based access
to all of the data, pricing tools, and portfolio management
capabilities necessary for successful participation in the weather
market. More information on Climetrix can be accessed at:
http://www.climetrix.com/
About RMS
Risk Management Solutions is the world’s leading provider of
products and services for catastrophe risk management. More than 400
leading insurers, reinsurers, trading companies, and other financial
institutions rely on RMS models to quantify, manage, and transfer
risk. Founded at Stanford University in 1988, RMS serves clients
today from offices in the U.S., Europe, and Japan. For more
information, visit our web site at
www.rms.com.
Climetrix and RMS are registered trademarks,
and the RMS logo is a trademark of Risk Management Solutions, Inc.
All other trademarks are property of their respective owners.
Editorial Contacts
Mark Prindle
TorranceCo, New York
1-917-517-4091
mprindle@torranceco.com
Sarah Goodall
Risk Management Solutions, London
+44 (0)20 7256 3815
sarah.goodall@rms.com
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