Peak Re Selects AIR Worldwide Models
Reinsurer will tap earthquake and basin-wide typhoon models to help monitor accumulations and drive profitable growth.
Insurance Networking News, March 12, 2013
Peak Reinsurance Co., a reinsurer focusing primarily on the Asia-Pacific market, has selected a catastrophe modeling solution from AIR Worldwide to manage its catastrophe risk.
“Catastrophes are a growing concern in the Asia-Pacific region as illustrated by the series of events in 2011, and Peak Re is positioning itself to bring greater value to this underserved region by providing property and casualty treaty reinsurance solutions through the use of modern risk management tools such as catastrophe models,” says Graham Cook, head of analytics at Peak Re. “AIR provides a comprehensive suite of models for the region, including earthquake and basin-wide typhoon models, which will help us monitor our accumulations and steer a path toward continued profitable growth.”
AIR says its Asia-Pacific tropical cyclone (typhoon) models feature a catalog of simulated storms to provide a complete and scientifically rigorous view of tropical cyclone risk affecting Japan, mainland China, Hong Kong, Taiwan, the Philippines, South Korea, Australia and India. AIR’s earthquake models represent the most advanced understanding of seismic risk and building vulnerability in the region, including Japan, mainland China, Taiwan, the Philippines, Indonesia, Australia and New Zealand.
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