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Why was Tobias Asser awarded Noble Prize Peace in 1911?

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Why was Tobias Asser awarded Noble Prize Peace in1911?Name: Tobias Asser.
Country: Netherlands.
Date of Birth: 28 April 1838.
Died: 29 July 1913.
Education: University of Amsterdam, Leiden University.
Profession: Dutch lawyer and legal scholar.
Co-founder: Institute of International Law(1873).
Known as: Initiator of the Conferences on International Private Law at the Hague, Cabinet Minister, and Lawyer.
Noble Prize Year: Nobel Prize for Peace in 1911, for work in the field of private international law, and in particular for his achievements in establishing the Hague Conference on Private International Law.

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