Calibration Services
Calibration Services
Calibration is the process of choosing a set of parameters to ensure a model produces the desired results and it is a core component of Barrie & Hibbert’s services.
We provide prompt, quarterly calibration updates for all our standard models to ensure that they continue to reflect the latest market conditions and economic outlook. We currently provide Real World calibrations for 29 economies, with new economies being added regularly. Calibrations are available based on near-term views, appropriate for one-year risk and capital applications, or optimised for longer-term projection for multi-year capital models.
In addition to this standard service, Barrie & Hibbert assists its clients by providing bespoke calibration services:
- in new economies,
- with varying economic assumptions,
- to alternative asset classes and economic variables,
- at non-standard dates.
Barrie & Hibbert also provides a suite of calibration tools alongside expert consultancy and research for clients who perform these tasks in-house.
In addition, we offer a calibration specifically designed for Lloyd’s of London managing agents. This includes using Lloyd’s PIM exchange rates, and an “as-at future” date calibration, which is initialised starting from our best-estimate view of economic variables at the coming year-end, consistent with the requirement that Lloyd’s ICA and SCR submissions be based off a best-estimate year-end view of the financial position of a syndicate.