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GEM welcomes PartnerRe as a new Private sponsor and its support to promote a better understanding of earthquake risk and an improved capability to assess and manage risk through open, transparent and collaborative seismic risk assessment at global, regional and national scales. “Our organizations are bound by common values and a shared vision for a safe and earthquake-resilient world.

Together, we are confident of developing better information on seismic risk, and delivering innovative tools and products for improved seismic risk assessment,” John Schneider – GEM Secretary General. GEM’s OpenQuake engine and its associated toolkits will enable PartnerRe to better evaluate the earthquake risk for their insurance clients worldwide. Like GEM, PartnerRe values open, transparent tools and models, which lead to a better understanding of the assumptions and sources of uncertainty that are essential in the evaluation and quantification of risks.

Paul Della-Marta, Head of Catastrophe Research at PartnerRe said, “As a world leader in reinsurance, PartnerRe helps insurers create risk transfer solutions that provide financial protection from the devastating effects of earthquakes. By combining rich seismic data with our own deep understanding of earthquake risk, we can help our clients create more relevant and impactful reinsurance solutions that enable earthquake-hit areas to recover more quickly.”

“This new partnership with GEM further strengthens our ability to fulfil that role. We are particularly impressed by GEM’s collaborative, interactive approach in working with its stakeholders, and are proud to support GEM in their goal of worldwide earthquake resilience”. GEM is set to formally welcome PartnerRe at its next Governing Board meeting in June this year.