Around the P&C insurance industry: Aug. 8, 2018

News from AIR Worldwide, American International Group Inc., Marsh and more. (Photo: Shutterstock)

Catastrophe risk modeling firm AIR Worldwide has released Touchstone Re, a new catastrophe modeling software application designed for estimating the loss potential of reinsurance contracts and portfolios, industry loss warranties and insurance-linked securities. In addition to releasing Touchstone Re, AIR updated its flagship catastrophe risk modeling platform, Touchstone, to include enhancements that enable users to perform new analytics, customize the software, and improve and simplify users’ workflows.

Carlyle Group LP, a private equity and financial services firm, is buying a stake in an American International Group Inc. (AIG)-owned firm. The Washington-based firm agreed to purchase 19.9% of DSA Reinsurance from AIG and make it into a standalone insurer, Carlyle said in a statement Wednesday. The deal comes with an agreement that gives Carlyle $6 billion from DSA to invest across its private equity, credit and real asset groups.