Natural catastrophes such as hurricanes and earthquakes have existed longer than mankind itself. Property insurance as we know it today is much younger, but nevertheless can be traced back to the seventeenth century. The first stochastic natural catastrophe models, helping insurers and reinsurers better understand and price the risk, were only developed in the late 1980s.
Real estate is an attractive component of a broadly diversified investment strategy. It has stable risk/return characteristics and a low correlation to other asset classes. Multi-manager products with unlisted investment vehicles based on net asset value (NAV) offer investors access to a global real estate portfolio with a single investment.
Technological progress and social change create new requirements for residential and office spaces. To fulfill these requirements, the marketing and managing of real estate properties needs innovative concepts and new ideas.