TRUCKEE, Calif., Aug. 1, 2016 /PRNewswire/ -- BetaZi™ is pleased to announce that it has entered into a multi-year contract with Munich Re, based in Munich, Germany. The contractual relationship establishes BetaZi™ as Munich Re's exclusive provider of physics-based predictive analytics in support of Munich Re's oil and gas reserves risk underwriting efforts.
George Carrick, President of Munich Re Reserve Risk Financing, Inc. (an indirect, wholly-owned subsidiary of Munich Re) says of the alliance: "BetaZi technology provides the cornerstone for our reserves risk quantification model. Its flexibility and tractability will allow us to offer innovative debt financing options for all classes of proved reserves with pricing based on rigorously quantified underlying risks – not solely on de-linked market return requirements."
About Munich Re
Munich Re is known internationally for its exceptional solution-based expertise, consistent risk management, financial stability and client proximity in the service of creating value for clients, shareholders and staff. In the financial year 2015, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.1bn on premium income of over €50bn. It operates in all lines of insurance, with more than 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world's leading reinsurers, sought after in particular by clients who require solutions to complex risk solutions. Munich Re's primary insurance operations are concentrated in the ERGO Group. ERGO is one of the leading insurance groups in Germany and Europe, represented in over 30 countries worldwide and offering a comprehensive range of insurances, provision products and services. In 2015, ERGO posted premium income of €17.9bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re's global investments (excluding insurance-related investments) amount to €215bn and are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group. Learn more about the company at www.munichre.com.
About BetaZi LLC
BetaZi LLC, a Delaware Limited Liability Company, creates state-of-the art production forecasting solutions for the oil and gas industry using physics-based predictive analytics. BetaZi has been providing meaningful intelligence to producers, financiers and investors since 2012. BetaZi's proprietary algorithms are the new standard for production forecasting. BetaZi's automatic results are accurate and useful for decision makers from the oil patch to the board room. Using cutting edge science, BetaZi helps clients make confident, profitable decisions for their assets in record time. BetaZi is a privately held company. For information on how we can help you solve your high value problems, contact us at info@betazi.com or phone 530.587.3858. Visit our website at www.betazi.com.
Contact
Janette Conradson, CEO
BetaZi LLC,
(530) 308-9074
jconradson@betazi.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/betazi-signs-multi-year-services-agreement-to-provide-technology-services-to-munich-res-reserve-risk-financing-business-300307168.html
SOURCE BetaZi LLC
