Peak Reinsurance Company Limited has announced the completion of the sale of a 13.1% stake in Peak Re Holdings to Prudential Financial, Inc.
The deal had been planned since February 2018, and was completed via the issuance of new shares to a wholly owned subsidiary of Prudential Financial.
Before this transaction, Peak Re Holdings also sold shares previously held by International Finance Corporation (IFC), part of the World Bank Group, to Fosun International Limited.
Fosun and Prudential Financial now hold 86.9% and 13.1% of Peak Re respectively, via their stakes in Peak Re Holdings.
Headquartered in Hong Kong, Peak Re is now part of the Fosun family, a Chinese international conglomerate and investment company whose total assets exceed US $75 billion.
