Hong Kong-based Peak Reinsurance has appointed Li Tao, Vice President of Fosun International and Chief Executive Officer (CEO) of parent company Fosun Insurance Group, as Chairman of its Board of Directors.
Alongside Tao’s appointment, Chen Kaihong and Yuan Xi also join the Board as Executive Director and Non-Executive Director respectively; they will all serve as members of various committees of Peak Re in addition to taking their seats on the Board.
Tao has vast experience of managing financial lines, actuarial, investments and overseas insurance business. Prior to joining Fosun International, he held several senior positions at China Taiping Insurance Group.
Kaihong serves as the Chief Financial Officer of Peak Re, overseeing the company’s financial and operational management. She has more than 18 years’ accounting and financial experience in both the insurance and reinsurance industry.
Xi serves as the Chief Financial Officer of Fosun Insurance Group. She has extensive knowledge and experience in the insurance and reinsurance sectors, specialising in actuarial and risk management.
“I am glad to have Vincent (Li Tao) as Chairman of the Board and delighted to welcome Cathy (Chen Kaihong) becoming Executive Director and Cynthia (Yuan Xi) joining as Non-Executive Director,” commented Franz Josef Hahn, CEO of Peak Re.
“They are now members of our various Board Committees too. I am confident that their presence on the Board will support Peak Re in its drive to provide innovative and forward-looking reinsurance solutions for customers across the regions.”
Additional changes include the resignation of Guo Guangchang as Non-Executive Director of Peak Re as well as Wang Qunbin from the position of Chairman of the Board, who remains as Non-Executive Director and a Board Committee member of Peak Re.
“After completing the first five years of successful operations at Peak Re, it is now an appropriate time to implement a major change in the Board of Directors,” added Hahn.
“On behalf of the Board, I would like to express my sincere thanks to Mr. Guo who provided great support to Peak Re as Non-Executive Director. Since the inception of Peak Re, he has been willing to listen to new ideas with an open mind.
“I truly appreciate and am grateful for Mr. Guo’s foresight and courage to back the start of Peak Re and increasingly entrust more responsibilities to our Board of Directors and Peak Re’s management, following the success of the past few years.
“I would also like to thank Mr. Wang Qunbin, who made a great contribution to Peak Re as Chairman of the Board during his tenure of service at the Board in the past.”