Tropical Storm Risk (TSR) was launched in 1998 as a project within the Mullard Space Science Laboratory (MSSL) at University College London (UCL). Backed by the UK government-supported TSUNAMI initiative (1998–2000), the research team devised new methods for predicting seasonal activity for tropical cyclones. With monthly seasonal forecasts for the North Atlantic, Australian, and Northwest Pacific basins, TSR were renowned for delivering the earliest seasonal forecasts in the industry.

In 2004, TSR’s award-winning Tropical Storm Tracker gained recognition for its innovation in forecasting windfields up to five days ahead. That same year, TSR launched Storm Alert emails, dedicated to protecting communities with real-time updates. Distributed by humanitarian networks like Reuters AlertNet and the UN World Food Programme, these feeds provided critical storm updates to aid agencies supporting at-risk populations.

In 2008, with funding from Aon Benfield, TSR significantly expanded its capabilities, introducing advanced spatial data products for both storm forecasting and post-event analysis. These datasets, including deterministic and probabilistic footprints, 100-member ensembles, and historical wind footprints, became essential tools for insurers, businesses, and government agencies seeking precise risk assessment. TSR also provided probabilistic forecast and post-event datasets for U.S. market insured losses from North Atlantic storms, further supporting the insurance sector.

In 2022, EuroTempest took over TSR’s operations and licensing, ensuring continued innovation under the guidance of its original developers. The following year, TSR broadened its capabilities by adding Rainfall Accumulation data to highlight risks from secondary perils such as flooding and landslides.

In 2025, TSR advanced its commercial suite by incorporating data from the regional agencies including the Indian Meteorological Department, La Reunion, the Japan Meteorological Agency and the Bureau of Meteorology, doubling the dataset update frequency, and aligning products with regional wind scales for improved relevance to local standards.