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Partnerships to share expertise and demonstrate responsibility

When Peak Re was launched, one of the intentions of its founders and investors, among them the International Finance Corporation with a stake of 14.9%, was to facilitate progress, both social & economic, by making insurance protection more available in developing countries. As Peak Re gathers pace, broadening its footprint in Asia and beyond, we are keen to engage in partnerships, which enhance the knowledge and expertise regarding the risks and perils in our markets. In addition, we also want to be a responsible citizen and contribute by advancing awareness and preparedness for risks that typically affect the countries in which we operate.

Sponsoring the Himalayan Consensus Summit

In early 2015, Peak Re signed an agreement with the Himalayan Consensus Institute to sponsor the upcoming Himalayan Consensus Summit, to be held in late November 2015 in Kathmandu, Nepal. The Summit will bring together stakeholders of civil society, business and finance, and government to discuss and support the creation of sustainable economic platforms such as micro-finance and social entrepreneurship. The Himalayan Consensus is focused on advancing small scale and local solutions as a way to preserve social identity and environmental protection. According to the Institute, the Nepal Earthquake from April and May 2015 has emphasized the urgent need for this process to move and the need to examine how economic systems relevant to the region can contribute to prevent future disaster and conflicts.

Franz Hahn is a member of the Institute’s Advisory Board since 2009. In addition, Peak Re will have the opportunity to gain insight into existing and future research findings, contribute to government policy making and be able to help make a difference.

Himalayan Consensus

As a Member of the United Nations Theme Group on Poverty and Inequality, the Himalayan Consensus Institute is a non-profit organization, advocating a new development paradigm for protecting ethnic diversity and local identity, empowering local communities, emphasizing environmental protection and the fight against climate change in the Himalayan region.

http://himalayanconsensus.org

Partnership with the Shanghai

Typhoon Institute In June 2015, Peak Re also announced an exclusive partnership with the Shanghai Typhoon Institute (STI) of China Meteorological Administration, a state-level institution which was founded with the approval of the Ministry of Science and Technology, the Ministry of Finance and the State Commission Office for Public Sector Reform. STI conducts basic and applied research related to tropical cyclones and has developed and maintained a database of meteorological information specific to cyclone activities in China.

Jointly, Peak Re and Shanghai Typhoon Institute will collaborate on research projects related to the tropical cyclone activities in the North West Pacific basin and South China Sea and analyze their insurance impact. As China is one of Peak Re’s core markets, the cooperation with the STI is a major step in joining forces with a high profile Chinese research institute to obtain firsthand data on tropical cyclone activities. As a result, Peak Re will be able to share with cedants the institute’s forecasts on the upcoming tropical cyclone season. The application of cutting-edge scientific research to real risks helps the insurance industry to better quantify, manage and mitigate these related risks, and ultimately, these findings will also serve society at large.