Dr. Anqi Liu, CFA, is senior underwriter at Fermat Capital. Anqi joined Fermat in 2011 and has over 25 years of experience in catastrophe-risk modeling and reinsurance underwriting. Prior to joining Fermat, Anqi was a managing director at Fox-Pitt Kelton Cochran Caronia Waller and a portfolio manager with Magnetar Capital's AJ Sterge insurance-linked securities division. Anqi previously worked as an underwriter for Endurance Re, a senior capital markets analyst with A.M. Best, and a vice president in Lehman's insurance-products group. Anqi started his career in 1995 as one of the first researchers at Applied Insurance Research, Inc. (AIR), where he developed risk-analysis models to quantify, optimize, and manage catastrophe risks for both capital-markets securitizations and traditional re/insurance programs. Anqi received a Ph.D. in civil engineering (loss estimation in earthquakes) from the Johns Hopkins University (1996), an M.Eng. in earthquake engineering from Tsinghua University (1988) and a B.Eng. in structural engineering from Tongji University (1985). Anqi is also a CFA charter holder.