Hong Kong reinsurer, Peak Reinsurance (Peak Re) has selected AIR Worldwide's catastrophe modeling solutions to manage its catastrophe risk in the Asia-Pacific market.
Equipped with a comprehensive catalog of simulated storms, the Asia-Pacific tropical cyclone (typhoon) models are designed to offer a complete and scientifically rigorous view of tropical cyclone risk affecting Japan, mainland China, Hong Kong, Taiwan, Philippines, South Korea, Australia, as well as India.
The models also represent the most advanced understanding of seismic risk and building vulnerability in the region, including Japan, mainland China, Taiwan, Philippines, Indonesia, Australia, and New Zealand.
Peak Re analytics head Graham Cook said the company is positioning itself to bring greater value to catastrophes prone regions through delivery of property and casualty treaty reinsurance solutions using modern risk management tools, such as catastrophe models.
''AIR provides a comprehensive suite of models for the region, including earthquake and basinwide typhoon models, which will help us monitor our accumulations and steer a path toward continued profitable growth,'' Cook added.
